The ordinance calls for a special election on November 5, 2024, to let voters decide on borrowing up to $390 million for various healthcare, emergency services, and infrastructure improvements in San Francisco. It also allows landlords to pass on half of any property tax increase to tenants and establishes oversight for how the bond money is spent.
Ordinance calling and providing for a special election to be held in the City and County of San Francisco on Tuesday, November 5, 2024, for the purpose of submitting to San Francisco voters a proposition to incur bonded indebtedness of not to exceed $390,000,000 to finance the acquisition or improvement of real property, including: facilities to deliver primary healthcare services, emergency medical services, skilled nursing services, and services for persons experiencing mental health challenges or persons with substance use disorders; acquire, improve, and seismically upgrade critical medical care and mental health facilities and emergency shelter facilities; and improvements for certain transportation, pedestrian, and street safety related capital improvements, streetscape enhancements and other public space improvements, and related costs necessary or convenient for each of the foregoing purposes; authorizing landlords to pass-through 50% of the resulting property tax increase, if any, to residential tenants under Administrative Code, Chapter 37; providing for the levy and collection of taxes to pay both principal and interest on such Bonds; incorporating review of Bond expenditures under the provisions of the Administrative Code by the Citizens’ General Obligation Bond Oversight Committee; setting certain procedures and requirements for the election; adopting findings under the California Environmental Quality Act; and finding that the proposed Bonds are in conformity with the General Plan, and with the eight priority policies of Planning Code, Section 101.1(b).
How it got here
The legislation for the Healthy, Safe, and Vibrant San Francisco Bond originated from a need to address public health infrastructure and homelessness in the city.
The Board approved a 10-Year Capital Plan that included funding for public health facilities and homelessness services, setting the stage for future bond proposals.
Mayor Breed introduced the ordinance for a $390 million general obligation bond to fund improvements in healthcare, emergency services, and public safety infrastructure.
The Budget and Finance Committee reviewed the bond proposal, making amendments to the funding allocations for various projects.
The Planning Department confirmed that the bond proposal is consistent with the General Plan and the eight priority policies of the Planning Code.
The Board of Supervisors passed the ordinance calling for a special election on November 5, 2024, to approve the bond measure.
The City Controller provided a financial analysis of the bond, estimating the tax implications and ensuring compliance with fiscal policies.
The Department of Human Resources confirmed that the meet and confer requirement was not applicable for the bond proposal.
The finalized bond legislation was transmitted to the Department of Elections for inclusion on the November ballot.
Reconstructed from attached documents & the official record
This resolution authorizes the city to acquire or improve properties for healthcare, emergency services, and public safety enhancements, while allowing landlords to pass on half of any resulting property tax increase to tenants. It also confirms compliance with environmental regulations and city planning policies.
This legislation calls for a public hearing to discuss a special election on November 5, 2024, where San Francisco voters will decide on a proposition to incur up to $390 million in bonds for various healthcare, mental health, and infrastructure improvements. It also includes provisions for landlords to pass on half of any resulting property tax increase to tenants and establishes oversight for the bond expenditures.
A formal position or approval by the Board: Allow the issuance and sale of not to exceed $195,000,000 aggregate principal amount of one or more series of City and County of San Francisco General Obligation Bonds (Healthy, Safe and Vibrant San Francisco, 2024), Series 2026A (“Bonds”) on a tax-exempt or taxable basis.
This legislation calls for a public hearing to discuss a special election on November 5, 2024, where San Francisco voters will decide on a proposition to incur up to $390 million in bonds for various healthcare, mental health, and infrastructure improvements. It also includes provisions for landlords to pass on half of any resulting property tax increase to tenants and establishes oversight for the bond expenditures.
This resolution authorizes the city to acquire or improve properties for healthcare, emergency services, and public safety enhancements, while allowing landlords to pass on half of any resulting property tax increase to tenants. It also confirms compliance with environmental regulations and city planning policies.
