SAN FRANCISCO (KCBS)— San Francisco non-profits being squeezed by rising commercial rents may soon be getting a bail out from the City. This week, two members on the Board of Supervisors introduced legislation to provide the financially-stressed organizations with $2.5 million in rent subsidies.
Last October, several non-profits packed a supervisor’s hearing to complain about rising rents in historically low-rent neighborhoods like Mid-Market and the Tenderloin. Their common complaint was that tech companies are moving in and pushing them out.
One renter claimed during a board meeting’s public-comment period that her rent was $16.40 per square foot annualized. She then said her landlord had informed her that he had a tech company coming in that would pay $32 a square foot and would not be renewing her lease.
Since then supervisors Jane Kim and David Chiu have come up with their proposal for the rent subsidies.
“This supplemental is one part of a larger collaborative effort to address the need to protect non-profit organizations,” Chiu said.
Non-profits provide health care, homeless assistance, arts, culture and education programs, child care and senior services.
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