Prop I Funding Victory!
Voters demanded it, and we delivered: The Board of Supervisors approved last week the first round of Prop I funding — more than $20 million — to go to rent relief and permanently affordable, social housing. This is a huge win. Thank you everyone who voted for the ballot measure and helped us make sure the money is going to the programs we intended with the Fair Recovery Act.
This time last year, we were sketching out an idea to tax wealthy real estate investors to pay for emergency rent relief and social housing. The opposition mounted a well-funded, fact-free campaign to stop us, outspending us 20-1, but they failed. With your help, we beat big money at the ballot, and now we have successfully ensured that as mega real estate deals continue to come in, the revenue from Prop I will be directed as the voters intended.
And while we are celebrating this initial win, the fight will go on to make sure the Prop I funds continue to go to rent relief and social housing.
