FY 2026-27 Proposed Midcycle Budget

Special Council Meeting June 12, 2026 o Council can choose to adjust/expand the program pending budget allocation in the FY 27-29 biennial budget. 3) $50 million in Measure U allocation for affordable housing. Measure U Fund 5343. o The City must continue to invest in affordable housing by funding pipeline projects. The new construction pipeline is currently 13 applications with 919 units representing $246 million in unfunded requests. o This allocation, while not enough to fund the full pipeline, will help the Housing and Community Development Department to bring much-needed units online, including units for the unhoused. As mentioned above, many issues are essential but cannot be funded at this time. I remain focused on developing meaningful programs that will improve the material conditions of our residents in District 3 and city-wide. I am also deeply committed to opening doors for revenue generating initiatives, including bringing new businesses like Costco to Oakland. These are just a few ways to address the City’s structural challenges and to end budgeting and functioning under austerity. I look forward to your support of these three amendments and the policy directives in Attachment A. Sincerely, Councilmember Carroll Fife, District 3 Attachments: Attachment A: Policy Directives