San Francisco mayor proposes $250 million housing bond

May 12, 2015 7:13 PM by News Staff

SAN FRANCISCO (AP) - Mayor Ed Lee has introduced a $250 million affordable housing bond to put to San Francisco voters in November.

The proposal would pay to build and rehabilitate public housing and affordable housing units for low-income and middle-income families. The mayor has said he wants to construct or refurbish 30,000 housing units by 2020.

At the same board meeting on Tuesday, Supervisor John Avalos introduced a $500 million housing bond.

The competing measures are aimed at alleviating a housing crunch in San Francisco, where rental and home prices are among the highest in the country. Protesters at City Hall last week demanded a moratorium on new condos in the city's popular Mission district.

Voters approved a housing bond in 1996, but they defeated affordable housing measures in 2002 and in 2004.

Copyright 2015 The Associated Press. All rights reserved.


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