Proposition G would reduce rent in hundreds of units serving extremely low-income seniors, families and people with disabilities who struggle to afford even subsidized rentals in San Francisco.
The measure would create an Affordable Housing Opportunity Fund and require the city to set aside at least $4 million for the fund in 2026, and $8.25 million each year after that, through 2047.
Supporters hope the fund will act as a model to other municipalities trying to support low income households, and that it will grow in the coming years with support from the state or federal government.
Board of Supervisors President and mayoral candidate Aaron Peskin discussed the urgent need to get the fund up and running during a supervisors meeting in July.
“This is the only way that we will get the opportunity to create a program as a starting point, Let me be clear, the need is so great that we’ll never get at closing this gap..”
The fund would subsidize 600 units for extremely low income households. That includes seniors and those with disabilities earning up to 25% of the area median income, which is about $30,000 a year for two people, as well as families earning up to 35% of the area median income, or about $52,000 for a family of four.
Prop G is supported by the entire board of supervisors and Mayor London Breed, as well as diverse community groups like Faith in Action Bay Area, the Community Tenants Association and Senior and Disability Action.
Opponents include GrowSF and TogetherSF Action, who oppose yearly budget set-asides in favor of funding programs during the quote “regular budgeting process.”
Prop G needs a simple majority to pass.
This election brief was reported by San Francisco Public Press reporter Madison Alvarado, read the full analysis of Prop G here.