Largest ever housing bond approved

Voters have passed San Francisco’s largest ever housing bond Tuesday.

Proposition A, which received 73.5 percent of the vote, authorizes a $310 million housing bond aimed to construct and preserve low- and middle-income homes.

The bond includes some $80 million to repair and reconstruct public housing, $100 million to develop and preserve housing for low-income residents and $50 million to develop low-income housing in the Mission district. Money will also fund a middle-income rental program, as well as homeownership down payment assistance opportunities for educators and middle-income households.

The bond, which does not raise property taxes, required two-thirds of the voters to pass.
The measure was placed on the ballot amid The City’s dire housing crisis, in which skyrocketing real estate rates have pushed out many longtime residents and triggered city officials to introduce legislation to encourage developers to build more below-market-rate housing.

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