6/25/26
*Rules & Legislation
Committee
Continued to the *Rules & Legislation
Committee
Councilmember Fife Made A Motion Seconded By Councilmember Brown To
Approve The Urgency Finding On Item S6 For The Following Reasons: That
There Is A Need To Take Immediate Action Which Came To The Attention Of
The Local Body After The Agenda Was Posted, And That The Need To Take
Immediate Action Is Required To Avoid A Substantial Adverse Impact That
Would Occur If The Action Were Deferred To A Subsequent Special Or Regular
Meeting;
Motion Passed By 4 Ayes - Brown, Fife, Ramachandran, Jenkins
2 Speakers Spoke On This Item
The Committee Approved As Amended To Continue This Item To The July 2,
2026 Rules And Legislation Committee With The Following Amendments:
1) Removing The Advisory Measure And Making Associated Updates To The
Legislation
2) Adding Transfers For Affordable Housing Conversion To The Exemptions
3) Modifying Subsection F(4) By Providing Council Authority To Establish
Future Exemptions By Ordinance;
4) Exemption Community Banks And Not Just California Based Ones, And
5) Determining Value Of Consideration At Fair Market Value Drawing From
San Francisco’s Structure
Open Forum
Adjournment
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