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Resolution#220764Passed
In plain English
This resolution allows the Mayor’s Office of Housing and Community Development to enter into agreements with the California Department of Housing and Community Development for nearly $30 million, which includes a loan for a 100% affordable housing project and a grant for transportation improvements near that site. The funding will support the project and enhancements to public transit and infrastructure until June 30, 2041.
Resolution authorizing the Mayor’s Office of Housing and Community Development (“MOHCD”) to execute the Standard Agreements with the California Department of Housing and Community Development (“HCD” or “Department”) under the Affordable Housing and Sustainable Communities Program for a total award of $29,829,178 including $20,000,000 disbursed by HCD as a loan to the Potrero Housing Associates II, L.P. for a 100% affordable housing project at 1801-25th Street and $9,829,178 to be disbursed as a grant to the City for public transportation improvements near 1801-25th Street, for the period starting on the execution date of the Standard Agreements to June 30, 2041; authorizing MOHCD to accept and expend the grant of up to $9,829,178 for transportation, streetscape and pedestrian improvements and other transit oriented programming and improvement as approved by HCD, to commence following Board approval.
How it got here
Related / predecessor legislation
↑ predecessor#161308— not yet in database
↑ predecessor#191292— not yet in database
Document trail
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How they voted
ADOPTED
Board of Supervisors · Jul 19, 2022Pass
5-0
Legislative journey
PresidentJun 28, 2022
→RECEIVED AND ASSIGNED
Budget and Finance CommitteeJul 13, 2022
✓RECOMMENDEDPass
Board of SupervisorsJul 19, 2022
✓ADOPTEDPass
MayorJul 22, 2022
✓APPROVED