On September 4th, the City’s Land Use and Housing Committee reviewed a proposal to create an Affordable Housing Preservation Fund and various paths to establish one. In partnership with the San Diego Housing Commission, the proposed fund would position the City to address deed restricted units losing their affordability status. The end result of the committee hearing was a unanimous approval to send the following to full Council for review: direct the Commission to create the fund to serve families up to 150 AMI; transfer $5M from the Neighborhood Enhancement Fee fund into the preservation fund; and to pursue additional funding to supplement. Staff report can be found here. Presentation to Committee here.
