Citywide Affordable Housing Loan Committee Meeting

Mission Economic Development Agency requests up to $2,900,000 in Small Sites Program (“SSP”) funding and up to $1,075,000 in Preservation and Seismic Safety (“PASS”) Program funding from the Mayor’s Office of Housing and Community Development for the permanent financing of the property located at 566 Natoma Street in the South of Market neighborhood of San Francisco. The Project recently completed its acquisition and rehabilitation through the San Francisco Housing Accelerator Fund, completing a residential rehabilitation of four one-bedroom units, a soft story retrofit, and the expansion of a one-bedroom unit into a two-bedroom unit.

Mission Economic Development Agency

Mission Economic Development Agency requests up to $2,920,000 in Small Sites Program funding and $950,000 in Preservation and Seismic Safety Program funding from the Mayor’s Office of Housing and Community Development for the permanent financing of the property located at 40 Sycamore Street in the Mission neighborhood of San Francisco. MOHCD permanent financing will directly fund the acquisition, rehabilitation, and permanent conversion of the building to a 100% affordable housing Small Site. The Project has two existing occupied two-bedroom residential units and one vacant one-bedroom cottage and houses vulnerable and long-time San Francisco residents that are at risk of displacement due to a no-fault Ellis Act eviction. In addition, the Project proposes to construct two new accessory dwelling units (ADUs) in the area currently used as basement storage.

Mission Economic Development Agency

Mission Economic Development Agency requests up to $4,260,000 in soft debt, with up to $360,000 in AHF Inclusionary Small Sites funding and up to $4,420,000 in Housing Stability Funding, and up to $1,700,000 in 2016 GO Bond PASS (Series 2019A) funds. Located in District 5, 239 Clayton Street is a three-story, eight-unit building. The Project completed its acquisition and rehabilitation through the San Francisco Housing Accelerator Fund, completing a residential rehabilitation of the six existing units, a soft story retrofit, and the addition of two accessory dwelling units (ADUs).

Mission Economic Development Agency

Episcopal Community Services (ECS) is requesting approval of a commitment to increase the City permanent loan for the Homekey Granada development, located at 1000 Sutter Street, by $26,005,887, as unforeseen conditions pertaining to the seismic condition and deteriorated plumbing have increased the development cost and delayed construction during the ongoing rehabilitation.  This increase would be funded using Our City Our Home (OCOH) funds.

 

Episcopal Community Services