f l l. ED Be it ordained by the people of the City and County of San SU 16 Ph 3 : I 4 BUILD MORE HOUSING INITIATIVE SECTION 1. This measure stlall .be Klilbwn: and · may be cited as the "BUILD MORE HOUSING INITIATIVE" (referred to hereinafter as the "Initiative"). SECTION 2. Findings and Purpose (a) San Francisco is faced with a long-term housing shortage, which is driving up the cost of living, displacing long-term residents, and threatening our core values of inclusivity and diversity. (b) San Francisco's city government is under pressure to find policy that permits more housing development without displacement in a way that allows for inclusive economic growth. SECTION 3. The Initiative establishes a new ordinance whereby the Mayor's Office of the City of San Francisco shall create a "Housing and Inequality Task Force", (herein known as 'The Taskforce") drawn from recognized community stakeholders, industry leaders and city departments to develop a comprehensive plan to grow the affordable housing stock in San Francisco. The task force will publish a report no later than 6 months after the election day in which voters vote on this initiative, and propose for adoption appropriate legislation, policies, programs, and funding, including draft text of all laws necessary to carry out the proposals. The report shall also include an economic analysis of the impact of the policies on housing prices in San Francisco, along with the potential costs and benefits to not adopting the policies. The report shall be placed on a public website. The taskforce shall be made up of at least 5 members but no more than 20. All shall be selected by the Mayor. The report shall include any policies necessary to both maximize the total number of market-rate and subsidized "affordable" units. The report must include at least one scenario in which a new set of policies makes it possible for the construction of over 100,000 new units every 10 years for the next 50 years, where at least 25% of all new units are reserved and subsidized for residents making below a certain income ("affordable" units), including a layout of where these new units may be developed in the city. The policies in the report must consider, but are not limited to, changes in density zoning, changes in height limits, changes in discretionary or "by right" regulations, neighborhood character, protection of existing renters and communities, housing for public employees, and wages of workers on developments. This ordinance does not require the Mayor nor any government entity to endorse or submit the law for a vote. It does mandate that any policy in the task force report include complete text for a