Why is this a Good Way to Spend $100 Million in Tax Dollars?

The Mayor’s public housing proposal, “HOPE SF,” (PDF) has cleared committee and goes to the full Board of Supervisors next week. Bean counters say it’s likely to pass, with the only objection coming from Supervisor Chris Daly, whose objections really can’t be called “principled” by now.

The plan will commit $100 million dollars over about 20 years (starting with $5 million next year) to recreating two large public housing projects, one in Bayview Hunters Point and one to be determined, from top to bottom. They’ll be turned into desirable housing units and divided evenly between low-income housing and market rate housing — about 900 units each — so that rich and poor will live side by side.

This will, in the end, reduce violence and help lift families out of poverty, right?

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