Resolution approving the grant agreement between Abode Property Management and the Department of Homelessness and Supportive Housing (“HSH”) for property management services for permanent supportive housing at 1174-1178 Folsom Street; approving a term of January 7, 2025, through June 30, 2029, and a total not to exceed amount of $14,177,264; and authorizing HSH to enter into any amendments or other modifications to the agreement that do not materially increase the obligations or liabilities, or materially decrease the benefits to the City and are necessary or advisable to effectuate the purposes of the agreement.

The Board approved the acquisition of the property at 1174-1178 Folsom Street and 663 Clementina Street for $27,225,000 to provide up to 42 units of permanent supportive housing for young adults.

The City officially acquired the property for use as permanent supportive housing.

HSH issued RFQ #142 for property management and supportive services at the new site.

Abode Property Management was selected to provide property management services after no responses were received for RFQ #142.

The Budget and Finance Committee reviewed the grant agreement and continued the item to a later date.

The committee amended the grant agreement and recommended it for adoption by the Board.

The Board adopted the resolution approving the grant agreement with Abode Property Management for property management services at the Folsom Street site.

The grant agreement officially takes effect, allowing Abode to manage the property for the next four years and six months.