Two years after San Francisco officially endorsed its intent to stand up a city owned and operated public bank, one supervisor is urging it to follow through.
On Tuesday, District 9 Supervisor Jackie Fielder will introduce a non-binding resolution asking Mayor Daniel Lurie and city departments to explore and fund a “green bank.” Like a public bank, a green bank would be controlled by city officials to provide low-interest loans for renewable energy projects, small businesses, and new affordable housing .
City officials already approved a plan to do just that in 2023. At the time, the Board of Supervisors unanimously approved a plan to create a public bank that would, among other things, leverage funding from the Inflation Reduction Act and other sources to provide low-cost loans for