Findings. | |
Definitions. | |
Establishment of the Program. | |
Eligibility. | |
Program Implementation and Management; Regulations. | |
Loan Terms. | |
Administration of Loans. | |
Severability. | |
(a) The economic and social disparities associated with homeownership access and housing instability in San Francisco are well-established and well-documented, as reflected in the Planning Department’s General Plan demographic data on persons experiencing homelessness, rent burdens, evictions, and exposure to environmental pollutants, and low homeownership rates.
(b) The history of disparate access to homeownership in San Francisco generally mirrors that of the United States. Discriminatory practices of limiting access to wealth accumulation through home purchasing have greatly contributed to wealth gaps. These practices were sustained primarily through residential redlining and restrictive covenants.
(c) Residential redlining refers to the discriminatory real estate practices of public and private institutions that identified non-white communities as financially high-risk areas of investment, leading to the withholding of financial services necessary to acquire real estate in communities of color. Racially restrictive covenants were included in property deeds to restrict the racial composition of potential homebuyers. These practices were pervasive and longstanding in San Francisco as well as other areas of the country.
(d) The Planning Department’s 2023 General Plan, in Objective 2.B, identifies access to homeownership for communities that have been harmed through targeted economic disruption, displacement, and manufactured barriers to accumulating intergenerational wealth.
(e) This ordinance intends to provide down payment assistance to communities that have been harmed through targeted economic disruption, displacement, and manufactured barriers to accumulating intergenerational wealth so that San Francisco can address multigenerational inequities in access to homeownership and to narrow and ultimately close homeownership wealth gaps.
(Added by Ord. 56-24, File No. 230864, App. 3/22/2024, Eff. 4/22/2024, Oper. 5/22/2024)
For purposes of this Chapter 110, the following terms shall have the following meanings:
“Borrower” means a recipient of a Loan.
“Eligible Person” means a person who HRC has determined in accordance with Administrative Code Section 110.4 to be a low-, moderate-, or middle-income first-time homebuyer who would not be able to purchase a primary residence in San Francisco without loan assistance from the City.
“Fund” means the Forgivable Loan for First-Time Homebuyers Fund administered by HRC under Administrative Code Chapter 10, Article XIII, Section 10.100-13.
“Household” means all persons occupying a housing unit. The occupants may be a family living together; two or more families living together; or any other group of related or unrelated persons living together.
“HRC” means the Human Rights Commission.
“HRC Director” means the Director of the Human Rights Commission, or the HRC Director’s designee.
“Loan” means a loan of funds made under the Program, including the modification, refinancing, or restructuring of such loan.
“MOHCD” means the Mayor’s Office of Housing and Community Development, or any successor agency.
“MOHCD Director” means the Director of the Mayor’s Office of Housing and Community Development, or the MOHCD Director’s designee.
“Primary Residence” means a residential dwelling where Household members on the Loan and title live at least 10 out of 12 months of each calendar year for the entire term of the loan.
“Program” means the Forgivable Loan for First-Time Homebuyers Program established in Administrative Code Section 110.3.
“Program Regulations” means policies, procedures, rules, guidelines, manuals, or forms published by HRC, in consultation with MOHCD, to implement the Program as described in Administrative Code Section 110.5(b).
“Property” means an owner-occupied, single-family residential property in San Francisco financed by a Loan made under the Program and used to secure a Loan and obligations under the Program.
“SFHA” means the Housing Authority of the City and County of San Francisco.
(Added by Ord. 56-24, File No. 230864, App. 3/22/2024, Eff. 4/22/2024, Oper. 5/22/2024)
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