We are proud to support SB 593, which will allow the City and County of San Francisco to replace all of the housing units demolished prior to 1976 as well as preserve the affordability of the replacement housing built in the 1970s. This legislation will right the wrongs of the past by funding the preservation and rebuilding of affordable housing in San Francisco while also sparking the economic revitalization needed to create an equitable and sustainable future for our current and future residents of color. The letter is excerpted below:
Beginning in the 1950s, the former San Francisco Redevelopment Agency (SFRA) used a significant amount of federal urban renewal funds to implement locally adopted redevelopment plans. Though the goal of these plans was to create vibrant, mixed-income communities, the result was the authorization of widespread clearance, mass demolition, and relocation of communities, particularly lower income communities and communities of color. The urban renewal process resulted in a net loss of 6,709 affordable housing units. In 1976, the state amended the Community Redevelopment Law (CRL) to require the replacement of affordable housing lost through redevelopment activities. The CRL mandates a one-for-one replacement of the total number of units, as well as an equal or greater number of bedrooms.
San Francisco’s Successor Agency to the Former Redevelopment Agency has taken seriously its charge to replace the remaining 5,842 affordable units and has documented both the scope of the obligation and the need to allocate property tax revenues over time in order to fund the necessary construction. Tax increment financing will cover approximately one-half of construction costs and will leverage other public and private sources to complete affordable housing funding needs.
Read the full letter.
Learn more:
- Read about SFF All in on Housing Approach
