The Board of Supervisors finds and declares the following:
(a) San Francisco faces a severe and continuing housing crisis. This crisis is caused by a shortage of affordable rental housing as well as a shortage of affordable homeownership opportunities. The City is committed to responding to this housing crisis with a multifaceted and innovative approach.
(b) A housing innovation program can: (1) promote homeownership and housing preservation, especially for communities that are at high risk of displacement and have been historically denied equal access to capital; (2) develop and finance the construction of additional housing units that provide low-income and moderate-income homeowners the ability to leverage their assets to support multi-generational living and/or support their ability to age in place; and (3) explore creative prototypes for construction designs and financing options to provide housing for low-income and moderate-income residents.
(c) Further, a housing innovation program can create additional housing opportunities and complement the existing housing opportunities and resources administered by the Mayor’s Office of Housing and Community Development, such as homeownership programs that provide income-eligible residents with grants or loans to purchase or rehabilitate single-family homes, including for the development of additional units.
(Added by Ord. 172-22, File No. 211232, App. 8/4/2022, Eff. 9/4/2022)
(Former Sec. 85.1 added by Ord. 258-99, File No. 990624, App. 10/15/99; repealed by Ord. 171-03, File No. 030422, App. 7/3/2003)