MEETING
Citywide Affordable Housing Loan Committee Meeting
Meeting details
Date and time
How to participate
Online
Agenda
Request for losp contract funding for 383 6th avenue (formerly 4200 Geary)
4200 Geary Associates, L.P., a California limited partnership, an affiliate of the Sponsor, Tenderloin Neighborhood Development Center (“TNDC”), requests up to $4,335,548 in General Funds from the Local Operating Subsidy Program (“LOSP”) to subsidize the operation of 10 permanent supportive housing units for seniors experiencing homelessness or at risk of homelessness, out of a total of 98 units that serve extremely low- and low-income senior households, for a period of 15 years. Located at 383 6thAvenue in the Inner Richmond neighborhood, the Project is a seven-story building with a ground-floor community-serving commercial space, community rooms, and services spaces.
4200 Geary Associates, L.P., a California limited partnership, is an affiliate of the Sponsor, Tenderloin Neighborhood Development Center
Request for an amendment to losp agreement for Vera Haile senior housing
Mercy Housing California, on behalf of Mercy Housing California 50, LP, requests a first amendment to the existing LOSP agreement to increase and extend the contract by an additional 10 years through December 31, 2039. Vera Haile Senior Housing, located at 129 Golden Gate Avenue, is a 90-unit affordable housing development with 3 units supported by LOSP, though the project serves a total of 18 Permanent Supportive Housing units.
Mercy Housing California
Request to modify senior operating subsidy grant agreement amount for 1005 Powell street
Chinatown Community Development Center (CCDC) request modification to the existing Senior Operating Subsidy (SOS) grant agreement for 1005 Powell Street, executed April 17, 2024. At the time that CCDC requested their first annual disbursement of funds under the agreement in September 2024, it was discovered that the final year’s disbursement was omitted from the total grant amount. The requested modification to the SOS Agreement will increase the total contract amount by $572,765 and correct the not-to-exceed amount for the contract to $6,781,969.
Chinatown Community Development Center
1939 Market - $52,360,000 preliminary gap funding request inclusive of $3,620,528 additional predevelopment request
Mercy Housing California requests up to $52.36 million in preliminary gap funding, including $3.62 million in additional predevelopment funds, in support of their HCD application for 1939 Market Street. The LGBTQ+ affirming development, utilizing a Design-Build contract with Swinerton, will provide housing for low-income seniors, formerly homeless individuals through LOSP, and veterans through VASH. The project increased density by expanding from an originally planned 111-unit, 9 story mid-rise to a 187-unit, 15 story high-rise. Financing will include tax credits, bonds, and state and local subsidies. Pending award of State funds and subsequent CDLAC / TCAC award, construction is expected to begin in 2026.
Mercy Housing California
Partner agencies
Meeting details
Date and time
How to participate
Online
Agenda
Request for losp contract funding for 383 6th avenue (formerly 4200 Geary)
4200 Geary Associates, L.P., a California limited partnership, an affiliate of the Sponsor, Tenderloin Neighborhood Development Center (“TNDC”), requests up to $4,335,548 in General Funds from the Local Operating Subsidy Program (“LOSP”) to subsidize the operation of 10 permanent supportive housing units for seniors experiencing homelessness or at risk of homelessness, out of a total of 98 units that serve extremely low- and low-income senior households, for a period of 15 years. Located at 383 6thAvenue in the Inner Richmond neighborhood, the Project is a seven-story building with a ground-floor community-serving commercial space, community rooms, and services spaces.
4200 Geary Associates, L.P., a California limited partnership, is an affiliate of the Sponsor, Tenderloin Neighborhood Development Center
Request for an amendment to losp agreement for Vera Haile senior housing
Mercy Housing California, on behalf of Mercy Housing California 50, LP, requests a first amendment to the existing LOSP agreement to increase and extend the contract by an additional 10 years through December 31, 2039. Vera Haile Senior Housing, located at 129 Golden Gate Avenue, is a 90-unit affordable housing development with 3 units supported by LOSP, though the project serves a total of 18 Permanent Supportive Housing units.
Mercy Housing California
Request to modify senior operating subsidy grant agreement amount for 1005 Powell street
Chinatown Community Development Center (CCDC) request modification to the existing Senior Operating Subsidy (SOS) grant agreement for 1005 Powell Street, executed April 17, 2024. At the time that CCDC requested their first annual disbursement of funds under the agreement in September 2024, it was discovered that the final year’s disbursement was omitted from the total grant amount. The requested modification to the SOS Agreement will increase the total contract amount by $572,765 and correct the not-to-exceed amount for the contract to $6,781,969.
Chinatown Community Development Center
1939 Market - $52,360,000 preliminary gap funding request inclusive of $3,620,528 additional predevelopment request
Mercy Housing California requests up to $52.36 million in preliminary gap funding, including $3.62 million in additional predevelopment funds, in support of their HCD application for 1939 Market Street. The LGBTQ+ affirming development, utilizing a Design-Build contract with Swinerton, will provide housing for low-income seniors, formerly homeless individuals through LOSP, and veterans through VASH. The project increased density by expanding from an originally planned 111-unit, 9 story mid-rise to a 187-unit, 15 story high-rise. Financing will include tax credits, bonds, and state and local subsidies. Pending award of State funds and subsequent CDLAC / TCAC award, construction is expected to begin in 2026.
Mercy Housing California