# Board of Supervisors Minutes: October 28, 2025 - Meeting date: 2025-10-28 - Document type: minutes - Source format: PDF - Extracted pages: 32 - [Canonical HTML transcript](https://sfbos.info/documents/1118/2025-10-28-minutes) - [Authoritative City source](https://sfgov.legistar.com/View.ashx?M=M&ID=1348574&GUID=0D173574-509E-4C04-A1A1-9D32ED530E95) > This text was extracted for search and accessibility. The linked City source is the authoritative public record. ## Structured legislative records ### File 250890: Business and Tax Regulations Code - Transfer Tax Exemption for Affordable Housing - Pages: 5-6 - Sponsors: Mayor; Mahmood, Dorsey, Chan and Mandelman - Vote 1: final-passage, likely final - Action: 250890 [Business and Tax Regulations Code - Transfer Tax Exemption for Affordable Housing] Sponsors: Mayor; Mahmood, Dorsey, Chan and Mandelman Ordinance amending the Business and Tax Regulations Code to temporarily exempt transfers of certain rent-restricted affordable housing from the real property transfer tax, retroactive to transfers on or after April 12, 2024; and affirming the Planning Department’s determination under the California Environmental Quality Act. (Fiscal Impact) (Supervisors Fielder and Walton voted No on First Reading.) Ordinance No. 208-25 FINALLY PASSED by the following vote: - Ayes: Chan, Chen, Dorsey, Mahmood, Mandelman, Melgar, Sauter, Sherrill - Noes: Fielder, Walton ### File 250891: Business and Tax Regulations Code - Tax Exclusion for Low-Income Housing Partnerships; Commercial Vacancy Tax Exemption - Pages: 6 - Sponsors: Mayor; Dorsey and Chan - Vote 1: final-passage, likely final - Action: sing Partnerships; Commercial Vacancy Tax Exemption] Sponsors: Mayor; Dorsey and Chan Ordinance amending the Business and Tax Regulations Code to exclude from gross receipts tax the gross receipts of low-income housing partnerships received from the lease of residential real estate beginning with the 2026 tax year; suspend the business registration certificate and fee requirements for those partnerships beginning with the registration year commencing April 1, 2026; exempt the City from the commercial vacancy tax retroactive to January 1, 2025; and exempt persons holding property to be used for City-sponsored affordable housing projects from the commercial vacancy tax retroactive to January 1, 2022, and refund commercial vacancy taxes paid by exempt persons. (In accordance with Section 2811 of Article 28 of the Business and Tax Regulations Code and Section 2909 of Article 29 of the Business and Tax Regulations Code, passage of this ordinance by the Board of Supervisors requires an affirmative vote of two-thirds (8 votes) of the Board of Supervisors.) (Fiscal Impact) (Supervisors Fielder and Walton voted No on First Reading.) Ordinance No. 209-25 FINALLY PASSED by the following vote: - Ayes: Chan, Chen, Dorsey, Mahmood, Mandelman, Melgar, Sauter, Sherrill - Noes: Fielder, Walton ### File 250946: Appropriation - Treasure Island Infrastructure and Revitalization Financing District Tax Increment Revenue Bond Proceeds and Bond Proceed Interest Earnings - MOHCD - $5,769,288 - FY2025-2026 - Pages: 6-7 - Sponsors: Mayor; Dorsey - Vote 1: first-reading - Action: 250946 [Appropriation - Treasure Island Infrastructure and Revitalization Financing District Tax Increment Revenue Bond Proceeds and Bond Proceed Interest Earnings - MOHCD - $5,769,288 - FY2025-2026] Sponsors: Mayor; Dorsey Ordinance appropriating $5,769,288 consisting of $5,500,000 from the issuance of Treasure Island Infrastructure and Revitalization Financing District (IRFD) No. 1 Tax Increment Revenue Bonds and $269,288 accumulated interest earnings from the Series 2022B and Series 2023B Treasure Island IRFD Bond to fund affordable housing projects to the Mayor’s Office of Housing and Community Development (MOHCD), and placing these funds on Controller’s Reserve pending the sale of the Tax Increment Revenue Bonds and receipt of proceeds in Fiscal Year (FY) 2025-2026. (Fiscal Impact) PASSED ON FIRST READING by the following vote: - Ayes: Chan, Chen, Dorsey, Fielder, Mahmood, Mandelman, Melgar, Sauter, Sherrill, Walton ## Extracted text ### [Page 6](https://sfbos.info/documents/1118/2025-10-28-minutes#page-6) Board of Supervisors Meeting Minutes 10/28/2025 250891 [Business and Tax Regulations Code - Tax Exclusion for Low-Income Housing Partnerships; Commercial Vacancy Tax Exemption] Sponsors: Mayor; Dorsey and Chan Ordinance amending the Business and Tax Regulations Code to exclude from gross receipts tax the gross receipts of low-income housing partnerships received from the lease of residential real estate beginning with the 2026 tax year; suspend the business registration certificate and fee requirements for those partnerships beginning with the registration year commencing April 1, 2026; exempt the City from the commercial vacancy tax retroactive to January 1, 2025; and exempt persons holding property to be used for City-sponsored affordable housing projects from the commercial vacancy tax retroactive to January 1, 2022, and refund commercial vacancy taxes paid by exempt persons. (In accordance with Section 2811 of Article 28 of the Business and Tax Regulations Code and Section 2909 of Article 29 of the Business and Tax Regulations Code, passage of this ordinance by the Board of Supervisors requires an affirmative vote of two-thirds (8 votes) of the Board of Supervisors.) (Fiscal Impact) (Supervisors Fielder and Walton voted No on First Reading.) Ordinance No. 209-25 FINALLY PASSED by the following vote: Ayes: 8 - Chan, Chen, Dorsey, Mahmood, Mandelman, Melgar, Sauter, Sherrill Noes: 2 - Fielder, Walton NEW BUSINESS Recommendations of the Budget and Finance Committee President Mandelman requested File Nos. 250946 and 250948 be called together. 250946 [Appropriation - Treasure Island Infrastructure and Revitalization Financing District Tax Increment Revenue Bond Proceeds and Bond Proceed Interest Earnings - MOHCD - $5,769,288 - FY2025-2026] Sponsors: Mayor; Dorsey Ordinance appropriating $5,769,288 consisting of $5,500,000 from the issuance of Treasure Island Infrastructure and Revitalization Financing District (IRFD) No. 1 Tax Increment Revenue Bonds and $269,288 accumulated interest earnings from the Series 2022B and Series 2023B Treasure Island IRFD Bond to fund affordable housing projects to the Mayor’s Office of Housing and Community Development (MOHCD), and placing these funds on Controller’s Reserve pending the sale of the Tax Increment Revenue Bonds and receipt of proceeds in Fiscal Year (FY) 2025-2026. (Fiscal Impact) PASSED ON FIRST READING by the following vote: Ayes: 10 - Chan, Chen, Dorsey, Fielder, Mahmood, Mandelman, Melgar, Sauter, Sherrill, Walton City and County of San Francisco Page 891 Printed at 5:43 pm on 12/15/25