Citywide Affordable Housing Loan Committee Meeting

Mercy Housing California, on behalf of 1100 Ocean Avenue Associates, LP, requests a first amendment to an existing LOSP agreement, in order to increase and extend the existing contract by an additional 5 years through December 31, 2034. 1100 Ocean Avenue Apartments is a 71-unit affordable housing development that has 19 units supported by LOSP.

Mercy Housing California, on behalf of 1100 Ocean Avenue Associates, LP

San Francisco Community Land Trust requests up to $3,055,000 in Small Sites Program (SSP) funding and $950,000 in Preservation and Seismic Safety Program (PASS) funding from the Mayor’s Office of Housing and Community Development for the permanent financing of the property at 3975 24th Street in the Noe Valley neighborhood of San Francisco. MOHCD permanent financing will directly fund the acquisition, rehabilitation, and permanent conversion of the building to an affordable housing Small Site. The Project has three existing residential units, consisting of two one-bedroom units and one studio unit, which are occupied by vulnerable and low-income tenants. It also has two occupied commercial spaces. The Project will add one accessory dwelling unit (ADU) as a part of the construction scope. The Project will seek an exception from PASS regulations from the MOHCD Director, in consultation with the Loan Committee, to allow the PASS loan to be structured as interest-only until the Project has completed construction and is fully leased up.

San Francisco Community Land Trust

San Cristina L.P. (HomeRise) requests up to $1,993,694 in MOHCD loans as a 55 year residual receipt loan with 3% simple interest to complete the rehabilitation of 58 units of housing for homeless households due to unforeseen additional costs that occurred during construction.

HomeRise