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 $41,162,574 including $29,000,000 disbursed by HCD as a loan to The Related Companies of California, LLC and the San Francisco Housing Development Corporation (collectively, the “Developer”) for a 100% affordable housing project at 160 Freelon Street and $12,162,574 to be disbursed as a grant to the City for public transportation improvements near 160 Freelon Street, for the period starting on the execution date of the Standard Agreements through November 30, 2044; authorizing MOHCD to accept and expend the grant of up to $12,162,574 for transportation, streetscape, and pedestrian improvements and other transit oriented programming and improvement as approved by HCD.

The California Department of Housing and Community Development issued a Notice of Funding Availability for the Affordable Housing and Sustainable Communities Program, inviting applications for funding.

The Planning Department approved the development of an 85-unit affordable housing project at 160 Freelon Street, determining it met all standards for ministerial approval under California law.

A conditional award of $41,162,574 was made to the Related Companies of California, LLC and the San Francisco Housing Development Corporation for the project at 160 Freelon Street, including a loan and grant for transportation improvements.

The Mayor’s Office of Housing and Community Development prepared a resolution to accept and expend the grant funds for the project, submitting necessary documentation to the Board of Supervisors.

The Board of Supervisors adopted the resolution authorizing the Mayor’s Office of Housing and Community Development to execute agreements with the California Department of Housing and Community Development for the project.