WASHINGTON, D.C. – June 26, 2015 – (RealEstateRama) — Mayor Edwin M. Lee issued the following statement regarding the Board of Supervisors Budget and Finance Committee on voting unanimously to support a historic record of additional investments –with $25 million specifically targeted for the further production of permanently affordable housing Citywide – in the City’s two-year balanced budget for Fiscal Year 2015-16 and 2016-17:
“This is a responsible and balanced budget that makes strategic investments to grow the economy and protect and expand social safety net programs while making historic investments in housing for low and middle income families. I appreciate the hard work by the Board of Supervisors Budget Committee, especially President Breed and Budget Chair Farrell, who are moving a budget forward that invests in the people of San Francisco and uses this time of great prosperity in our City to make sure people in every neighborhood benefit.
I particularly want to acknowledge our work together over the last several weeks to aggressively invest in more affordable housing to help keep families in our City through our now $310 million Affordable Housing Bond that does not raise property taxes. This housing crisis demands our continued coordinated action and leadership.”
The Mayor’s proposed balanced budget now goes to the full Board of Supervisors for consideration in July.