Mayor Daniel Lurie and Board of Supervisors Rally for Proposition C Housing Trust Fund on November General Ballot

Executive and Legislative Leaders Champion Proposition C Charter Amendment

SAN FRANCISCO, California — Uniting to secure sustainable, long-term financing for affordable residential construction, San Francisco Mayor Daniel Lurie, District 7 Supervisor Myrna Melgar, and a broad majority of the San Francisco Board of Supervisors rallied public support in mid-October 2026 behind Proposition C on the upcoming November ballot. The charter amendment gradually elevates the city’s baseline contribution to the Housing Trust Fund from approximately $50 million up to $125 million annually by FY 2034–35.

Unlike volatile ballot revenue measures that depend on erratic real estate transfer taxes, Prop C ties yearly funding increases directly to discretionary general fund growth and property tax revenue generated from new housing developments, creating a fiscally disciplined mechanism that expands affordable homes without jeopardizing frontline public safety services.

Fiscally Responsible Safeguards Protect City Budget During Downturns

A key feature of the measure is its built-in fiscal circuit breaker. If the City and County of San Francisco project an annual operating deficit exceeding $250 million or tap into the Rainy Day Reserve, the municipal controller is authorized to pause scheduled increases. This balanced design earned the endorsement of municipal labor unions, business coalitions, and housing developers who contrasted Prop C with competing rigid ballot mandates that would force severe general fund cutbacks.

Zoning Modernizations and Development Fee Reductions Spur Construction Pipeline

Prop C complements the Lurie administration’s recently implemented Family Zoning Plan and municipal fee reforms, which slashed excessive development impact fees and eliminated onerous Below-Market-Rate (BMR) mandates on smaller residential infill projects. Housing economists noted that pairing market-rate feasibility reforms with dedicated public trust funding will unfreeze tens of thousands of entitled apartments across San Francisco.