Citywide Affordable Housing Loan Committee Meeting

Mission Economic Development Agency requests up to $3,850,000 in soft debt, with up to $370,000 in AHF Inclusionary Small Sites funding and up to $3,480,000 in Housing Stability Funding, and up to $2,650,000 in 2016 GO Bond PASS (Series 2020C) funds. Located in District 9, 2676 Folsom Street is two 2-story buildings comprising 10 units. The Project completed its acquisition and rehabilitation through the San Francisco Housing Accelerator Fund in 2020, completing a residential rehabilitation of the eight existing units, a soft story retrofit, and the addition of two accessory dwelling units (ADUs).

 

Mission Economic Development Agency

Tenants and Owners Development Corporation (TODCO) requests commitment of a State funded pass-through loan in the amount of $6,798,810 in California Department of Housing and Community Development (HCD) San Francisco-awarded Housing for Healthy California (HHC) funds to support their long-delayed rehabilitation of the Knox SRO (Project), a proposed occupied rehabilitation of the 140-unit affordable housing development located at 241 6th Street.  In addition, TODCO requests that the existing $2,100,000 MOHCD (former SFRA) loan be extended from the maturity date of 8/4/2023 to a 55-year maturity date of 2078 to match the term of the HHC funded loan to facilitate the transaction.

Knox Partners Limited Partnership, a California Limited Partnership/TODCO-A, a California nonprofit benefit corporation, TODCO Group LLC