Nov 2016: YES on Prop C - Loans to Finance Acquisition and Rehabilitation of Affordable Housing

A sustainable community provides a healthy environment for its residents, and this includes safe, affordable housing. On November 3, 1992, voters of the City and County of San Francisco approved the issuance of up to $350 M of General Obligation Bonds for a Seismic Safety Loan Program to provide loans for the seismic strengthening of unreinforced masonry buildings. Since then, the City has issued approximately $95.3 M in loans, and there remains approximately $254.7 M of unused bond capacity under this loan program.

Proposition C amends the authorized use of these bond funds, by:

  1. Providing loans to finance the costs to acquire, improve, and rehabilitate and convert at-risk multi-unit residential buildings to permanent affordable housing.
  2. Performing needed seismic, fire, health, and safety upgrades and other major rehabilitation for habitability.

It comes as no surprise that Prop C has received broad support from all 11 of the District Supervisors. The San Francisco League of Conservation Voters agrees: Please vote Yes on Proposition C.