By Rick Girling : 48hills – excerpt
Historic proposal that could transform municipal and nonprofit financing will present preliminary plans.
On Thursday/19 at 3pm, newly-hired public banking consultant HR&A Advisors will join the Reinvest in San Francisco Working Group in formulating a plan to establish San Francisco’s first public bank since the city was founded more than 200 years ago.
Last June, the Board of Supervisors took an important step towards setting up a public bank for the city by unanimously passing the Reinvest in San Francisco ordinance introduced by Supervisor Dean Preston. Another dramatic step came on April 15, 2022, with the first official meeting of the Working Group, composed of financial professionals and community representatives charged with preparing a business plan for the bank. After being approved by the Board of Supervisors, the plan will be submitted to the California Department of Financial Protection and Innovation in Sacramento…(more)