{"id":22543,"date":"2022-05-27T12:51:55","date_gmt":"2022-05-27T19:51:55","guid":{"rendered":"http:\/\/occupysf.net\/?p=22543"},"modified":"2022-05-27T12:51:57","modified_gmt":"2022-05-27T19:51:57","slug":"san-franciscos-public-bank-moves-forward","status":"publish","type":"post","link":"https:\/\/occupysf.net\/index.php\/2022\/05\/27\/san-franciscos-public-bank-moves-forward\/","title":{"rendered":"San Francisco’s public bank moves forward"},"content":{"rendered":"\n
SF Reinvestment Working Group met with a City Commission to present a timeline for deliverables<\/strong>

At two meetings in San Francisco last week, the\u00a0SF Reinvestment Working Group<\/a>\u00a0discussed a plan and estimated timeline for establishing a public bank for the City and County of San Francisco. On Thursday, May 19, newly-hired public banking consultant HR&A Advisors met with the Reinvestment\u00a0Working Group [agenda<\/a>] [updates on CA efforts<\/a>]. On Friday, May 20, both teams along with public banking scholar and PBI Advisory Board member Thomas Marois presented to San Francisco’s\u00a0Local Agency Formation Commission<\/a>\u00a0[agenda<\/a>] [Thomas Marois’ presentation<\/a>] [HR&A presentation: scope of work, timeline<\/a>].

The Reinvestment Working Group, composed of financial professionals and community representatives, was created by the Reinvest in San Francisco ordinance\u00a0and charged with preparing a business plan for the public bank. The Board of Supervisors unanimously passed that ordinance last June. The resulting plan must be approved by the Board of Supervisors, then submitted to the California Department of Financial Protection and Innovation in Sacramento.

The timeline outlined on Friday indicates that by\u00a0October 2022<\/strong>\u00a0the team will deliver a governance plan, business plan, and viability study for a San Francisco non-depository municipal financial corporation (MFC) and that by\u00a0March 2023<\/strong>\u00a0the team will deliver a governance plan, business plan, and viability study for a San Francisco Public Bank. Video of the meeting is\u00a0posted here<\/a>.<\/td><\/tr><\/tbody><\/table>\n\n\n\n
<\/td>
City and County<\/strong>
of San Francisco<\/strong>
<\/em>
Friday, May 20, 2022<\/em>
<\/td><\/tr><\/tbody><\/table>\n\n\n\n

1.\u00a0 Call to Order and Roll Call2.\u00a0 Findings to allow Teleconferenced Meetings Under California Government Code, Section 54953(e)3.\u00a0 Approval of the LAFCo Minutes from the April 15, 2022, Regular Meeting8.\u00a0 Final Budget and Work Plan for Fiscal Year 2022-20234.\u00a0 Introduction of Reinvestment Working Group and Public Banking Consultant5.\u00a0 Presentation on Public Banking6.\u00a0 Community Choice Aggregation (CCA) Activities Report7.\u00a0 Report on Electric Bike Program for App-Based Delivery Workers9.\u00a0 Executive Officer\u2019s Report10.\u00a0 Public Comment11.\u00a0 Future Agenda Items12.\u00a0 Adjournment<\/a><\/p>\n\n\n\n

Link to video: https:\/\/sanfrancisco.granicus.com\/player\/clip\/41337<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

SF Reinvestment Working Group met with a City Commission to present a timeline for deliverables At two meetings in San Francisco last week, the\u00a0SF Reinvestment Working Group\u00a0discussed a plan and estimated timeline for establishing a public bank for the City and County of San Francisco. On Thursday, May 19, newly-hired… Continue reading → <\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/occupysf.net\/index.php\/wp-json\/wp\/v2\/posts\/22543"}],"collection":[{"href":"https:\/\/occupysf.net\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/occupysf.net\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/occupysf.net\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/occupysf.net\/index.php\/wp-json\/wp\/v2\/comments?post=22543"}],"version-history":[{"count":1,"href":"https:\/\/occupysf.net\/index.php\/wp-json\/wp\/v2\/posts\/22543\/revisions"}],"predecessor-version":[{"id":22544,"href":"https:\/\/occupysf.net\/index.php\/wp-json\/wp\/v2\/posts\/22543\/revisions\/22544"}],"wp:attachment":[{"href":"https:\/\/occupysf.net\/index.php\/wp-json\/wp\/v2\/media?parent=22543"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/occupysf.net\/index.php\/wp-json\/wp\/v2\/categories?post=22543"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/occupysf.net\/index.php\/wp-json\/wp\/v2\/tags?post=22543"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}