South of Market Community Stabilization Fund

Our vision is that populations most vulnerable to displacement in the South of Market (individuals, families, businesses that serve and employ them, nonprofit organizations, community arts, and educational institutions) are able to live, work and prosper in a neighborhood that is safe and culturally and economically diverse.

• All South of Market neighborhood residents have access to information and can be involved in the decisions that affect their lives in the South of Market Community and beyond.
• All its residents, low-wage workers and small community-serving businesses can contribute to and benefit from the South of Market Community.
• Mutual respect and support is practiced by all in the South of Market Community.

In August 2005 the Rincon Hill Area Plan was approved, effectively rezoning the area (generally bounded by Folsom Street to the north, the Embarcadero to the east, Bryant Street and the north side of the Bay Bridge to the south, and Essex Street to the west) for residential development. The San Francisco Board of Supervisors approved an amendment to the Planning Code(Ordinance 217-05), establishing the SOMA Community Stabilization Fund (the Fund). This legislation imposes a SOMA community stabilization impact fee of $14 per square foot on residential development in the Rincon Hill Area Plan to provide community stabilization benefits in SOMA including affordable housing, economic development and community cohesion. In addition, approximately $6 million of the Rincon Hill Community Improvements Fund ($11 per square foot), will be transferred to the Fund.

In concert with Ordinance 217-05, monies deposited in the Fund shall be used to address the impacts of destabilization on residents and businesses in SOMA including assistance for: affordable housing and community asset building, small business rental assistance, development of new affordable homes for rental units for low income households, rental subsidies for low income households, down payment assistance for home ownership for low income households, eviction prevention, employment development and capacity building for SOMA residents, job growth and job placement, small business assistance, leadership development, community cohesion, civic participation, and community based programs and economic development.

Meetings take place virtually. For Zoom meeting details, please contact Grace Jiyun Lee at grace.j.lee@sfgov.org.

For additional information, contact Grace Jiyun Lee at grace.j.lee@sfgov.org. 

Visit our archived website pre-November 2022.