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Planning Code Amendment for Inclusionary Housing Ordinance Regarding Tax-Exempt Bond Financing

  • When: 2025/03/04
  • Address: Citywide, San Francisco, CA
  • City: San Francisco
  • State: CA
  • Category: Zoning Code Modification
  • Asset Class: Multifamily
  • Planning Department: True

This ordinance amends the Planning Code to allow affordable housing projects to utilize California Debt Limit Allocation Committee (CDLAC) tax-exempt bond financing and Tax Credit Allocation Committee (TCAC) tax credits. This is permissible if the projects provide additional affordable units or deeper affordability levels than currently required by the Inclusionary Housing Ordinance. Specifically, it permits projects that provide the same number of on-site affordable units as required, plus an additional 10% of applicable on-site affordable units at or below 80% of Area Median Income. The previous regulations restricted the use of these financing mechanisms unless projects met specific, deeper affordability thresholds (20% at 50% AMI or 10% at 50% AMI and 30% at 60% AMI). The amendment aims to increase the flexibility for affordable housing developers to secure financing for projects that contribute additional or more deeply affordable housing units.

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