Citywide Affordable Housing Loan Committee Meeting

2530 18th Street Acquisition Request - $2,000,000.  Homeless Prenatal Program and Mercy Housing California (Sponsors) request additional acquisition funding in the amount of $2,000,000 in Our City Our Homes funds to take out an acquisition loan from Common Spirit Health Operating Investment Pool LLC, a Delaware limited liability company, to reduce holding costs while the Sponsors redesign the Project to make it more competitive for state financing.   The proposed additional acquisition loan will be made to 2530 18th, LLC, a California limited liability company, an affiliate of Homeless Prenatal Program, and will increase the existing acquisition loan to $6,900,000.  

Homeless Prenatal Program and Mercy Housing California

The Multifamily Affordable Housing Operating Fees Policy sets forth the maximum fees related to the operations of an affordable housing project funded by the City and County of San Francisco, and was last updated in April 2016. MOHCD Staff is recommending the Committee approve the proposed revisions to the Operating Fees Policy, which seek to keep in line with industry standards for certain operating costs and address the current challenges associated with managing affordable housing assets in San Francisco.

Mayor’s Office of Housing and Community Development