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Affordable housing bond worth $300 million headed to ballot

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San Francisco voters could decide on a $300 million affordable housing bond as well as one for earthquake safety and emergency response during upcoming elections, Mayor London Breed announced Monday.

The housing bond put forth by Breed would be used to build and preserve reasonably priced housing in the city while the earthquake safety bond would pay for seismic retrofitting and resiliency projects in addition to seismic emergency response needs.

Breed said in a statement:

“We need to build more housing in San Francisco, especially badly needed affordable housing to help keep our communities stable. This requires us to invest in solutions to build homes for people who need them. … An affordable housing bond is a key part of this strategy, an we are working now to move this effort forward so we can invest in more housing production to serve the people of San Francisco. We also know that our public safety infrastructure must be able to withstand any upcoming earthquakes.”

Breed added:

“These are both key priorities for our city, and we will work in the upcoming weeks to bring people together and determine what elections makes the most sense for these bonds to be successful.”

According to the city’s draft Capital Plan, which lays out the General Obligation Bond Schedule for the next 10 years, the earthquake safety bond would be for 2019 and the housing bond would be for 2020.

The Capital Plan is published every odd year and lays out infrastructure investments over the next decade.

The current draft version of the plan was introduced Monday at the Capital Planning Committee meeting and will be discussed and possibly modified over the next two months.

Afterward, the proposed plan will go to the Board of Supervisors and then would need to be approved by the mayor no later than May, 1, according to Breed’s office.

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