Citywide Affordable Housing Loan Committee Meeting

On July 8, 2019, the San Francisco Board of Supervisors (BOS) amended the Administrative Code to establish the Senior Operating Subsidies Program Fund to be used to lower rents in housing developments occupied by extremely low-income seniors. On September 14, 2021, the BOS authorized and delegated authority to MOHCD to accept and expend a grant award in an amount of up to $52,308,210 under the California Department of Housing and Community Development’s Permanent Local Housing Allocation Program (PLHA Program), which provides funding for counties to fund affordable multifamily housing. Under the PLHA Program, MOHCD is authorized to provide a 15-year, project-based operating subsidy for households at 15% AMI and 25% AMI, including transition reserves and administrative fees. In order to meet PLHA requirements, staff is seeking approval from Loan Committee for a contract modification for 1296 Shotwell, as well as new contracts for 4200 Geary, Transbay Block 2 West, and 1005 Powell, totaling $37.8M to support 165 units over the next 15 years.

Mercy Housing California, on behalf of Mercy Housing California XXII, L.P. requests $2,942,275 in rehabilitation funding for The Dudley Apartments as awarded through the 2023 Existing Nonprofit Notice of Funding Availability (ENP NOFA). The investment of City funds from this request will address urgent life/safety issues and ensure that the extremely low-income tenants at the Dudley are safely housed.  

Mercy Housing California, on behalf of Mercy Housing California XXII, L.P. 

Mercy Housing requests $4,000,000 in rehabilitation funding for The Rose Hotel as awarded through the 2023 Existing Non-profit Notice of Funding Availability (ENP NOFA). The project consists of 75 Single Occupancy units (SRO) and 1 manager’s unit. Project provides permanent supportive housing for 75 single adults who were previously homeless. All units have Section 8 Project-Based Vouchers (PBVs). Nearly all residents are below the 20% AMI income level. Property operates with a positive cash flow, however, there are significant safety, habitability and maintenance issues that must be addressed.

Mercy Housing California X, L.P.