Tuesday, January 12, 2016
News Credit Rating

Mayor Edwin M. Lee today announced major bond rating agencies have upgraded and affirmed San Francisco’s strong credit after the City met with Moody’s Investors Service (Moody’s), Standard & Poor’s (S&P) and Fitch Ratings (Fitch) in December 2015 in connection with the proposed sale of approximately $52.1 million in general obligation bonds to finance the construction, reconstruction, purchase and/or improvement of park and recreation facilities located within the City under the jurisdiction of the Recreation and Park or the Port of San Francisco.

“Because of our strong, diverse economy and fiscally responsible budgetary and financial controls, San Francisco’s credit rating has never been higher,” said Mayor Lee. “San Francisco is creating investor confidence with strategic investments and economic policies that are working. Although our revenue growth is strong and outpaces the State and the Nation, we will continue our long term financial management and reduce volatility to weather the challenges of a potential economic downturn.”

Friday, January 8, 2016
News - Development Funds

Mayor Edwin M. Lee today announced over the next five years, more than $250 million of development impact fee revenue is expected to be invested in several neighborhoods, including Rincon Hill, Market Octavia, Eastern Neighborhoods (comprised of East SoMa, Western SoMa, the Mission District, Showplace Square/Potrero, and Central Waterfront), Transit Center District, Balboa Park and Visitacion Valley, including the Schlage Lock Master Development.

“The success of our new and growing neighborhoods depends on serious investments in infrastructure, like streets, transportation, open space and other long lasting improvements,” said Mayor Lee. “These development impact fees are necessary to build stronger communities and result in strengthening the City as a whole.”

Thursday, January 7, 2016
SF Inauguration

Mayor Edwin M. Lee today announced plans for the Mayoral Inauguration Ceremony for his second term as Mayor of San Francisco on Friday, January 8, 2016 in City Hall.

“This is a celebration of the people of San Francisco that make our City great,” said Mayor Lee. “With a strong, diverse economy as the foundation for San Francisco’s continuing progress, we will tackle longstanding challenges like affordable housing and homelessness while making historic investments in our schools, transportation system and public safety network. I have dedicated 26 years of service to our City to make sure everyone has a chance to succeed, and I am humbled to be sworn in as Mayor of the ‘greatest City in the world’ for a second term.”

Thursday, December 24, 2015
Housing Funding

Mayor Edwin M. Lee today issued the following statement regarding the nearly $9 million award from the California Strategic Growth Council’s Affordable Housing and Sustainable Communities Program Fall 2015 Funding Round funded by the State’s cap-and-trade auction proceeds for two affordable housing projects in San Francisco – approximately $2.3 million for the Tenderloin Neighborhood Development Corporation Eddy and Taylor Family Housing project, which will develop 103 affordable housing units, and $6.5 million for the Mercy Housing 222 Beale Street project at Transbay Block 7 that will provide 120 affordable residential units:

“This nearly $9 million investment in affordable housing in San Francisco is an investment in our City’s low income families and residents. I thank Governor Jerry Brown, the Strategic Growth Council’s Acting Executive Director Randall Winston and Chair Ken Alex, and other State legislative representatives for their continued leadership on housing and the environment.  This partnership and investment will help us build more affordable housing to for low-income San Franciscans, as well as strengthen our neighborhoods. At the same time, it will help California meet its climate action goals."

Friday, December 4, 2015
Homeless Program

Mayor Edwin M. Lee today announced a goal for his second term of helping at least 8,000 people out of homelessness forever through strategies that stabilize people’s lives through the City’s nationally recognized housing and services and building a system that ends a person’s homelessness before it becomes chronic. Mayor Lee is creating a new Department to help homeless residents permanently exit the streets and move into housing and services and has committed to maintaining and enhancing funding for homeless prevention and solutions of at least $250 million per year.

“Despite decades of best efforts, we haven’t eliminated homelessness, and as we house and serve thousands, they’re replaced by new thousands. And they all deserve our compassion and care,” said Mayor Lee. “Building on the work that came before us, we can solve street homelessness, but it will require cooperation like never before. With a goal of helping at least 8,000 people off our streets in the next four years, we can make a difference if we leverage the passion and energy from our service providers, advocates, national experts and our City departments and work together. All of the ingredients for success on ending homelessness for thousands of our fellow citizens are already here in the City of Saint Francis. Moving forward with progressive approaches on mental health, expanding the successful navigation center program, creating a Department to coordinate these and other efforts, with the nation’s best minds working with us, we can make homelessness rare, brief and one-time.”