SF leaders warn affordable housing supply is running out, push to double Housing Trust Fund

San Francisco Mayor Daniel Lurie and District 7 Supervisor Myrna Melgar held a rally on the steps of City Hall Tuesday morning to announce a new charter amendment proposal that would double the city’s Housing Trust Fund, with the money earmarked for affordable housing programs.

The amendment, which would be on the November ballot for San Francisco voters, would grow the yearly city contribution of $52 million to over $125 million by allocating a portion of revenue from future property tax growth — up to $3 billion over the next 30 years.