Citywide Affordable Housing Loan Committee meeting November 4, 2022

Swords to Plowshares: Veterans Rights requests a commitment of up to $30,385,225 in Small Sites Program funding from the Mayor’s Office of Housing and Community Development to finance the acquisition and rehabilitation 629 Post Street, a 64-unit building with 62 single residential occupancy (SRO) units with private bathrooms and 2 commercial units. The Project has five existing residential tenants and one existing commercial tenant. Upon full rehabilitation, the Project will also provide 57 units of housing for unhoused and formerly unhoused veterans and will utilize Safe Haven, CoC, and HUD-VASH subsidies.

Swords to Plowshares: Veteran Rights

MOHCD Staff is requesting approval of additional revisions to the Small Sites Program Guidelines originally approved by the San Francisco Citywide Affordable Housing Loan Committee on September 9, 2022.

The Underwriting Guidelines, which governs MOHCD's policies for lending to LIHTC-funded projects, was last updated and approved by the San Francisco Citywide Affordable Housing Loan Committee in fall of 2019. MOHCD Staff is recommending the Committee approve the proposed revisions to the Guidelines, which seek to make program updates to improve and streamline the loan making process.

Maceo May Apt, L.P., a partnership formed by Chinatown Community Development Center (“CCDC”) and Swords to Plowshares (“Swords’), requests additional gap loan funds in the amount of up to $14,983,000 for a revised loan totaling $39,238,000 for Treasure Island Parcel C3.2 (“Maceo May”), a 105-unit new affordable housing development that will include 39 replacement units available for current Treasure Island residents and 65 new units for formerly homeless veterans, plus one manager’s unit and 19 parking spaces.

Maceo May Apt, L.P.