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Nonprofit Housing Leaders Advocate for Residual Receipts Support in San Francisco

October 02, 2023 | San Francisco County, California


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Nonprofit Housing Leaders Advocate for Residual Receipts Support in San Francisco
The San Francisco County government meeting held on July 4, 2025, focused on critical discussions surrounding affordable housing and the challenges faced by nonprofit developers in the region. The meeting featured multiple speakers from various nonprofit organizations, emphasizing the urgent need for resources to support affordable housing initiatives.

The session began with Rich Sorrell, the executive director of Mission Housing Development Corporation, who highlighted the significance of the Rich Sorrell Commons, the first affordable housing project in Mission Bay. Sorrell pointed out the growing disparity between the increasing demand for affordable housing and the limited resources available from government agencies, including San Francisco and HUD. He stressed the importance of residual receipts, which are funds generated from well-managed properties, to address urgent repair needs and maintain housing quality. Sorrell expressed concern over the impact of climate change, citing frequent floods and fires that threaten the integrity of affordable housing buildings.

Following Sorrell, Chris Cummings, director of housing development at the Tenderloin Neighborhood Development Corporation, voiced support for the proposal under discussion. Cummings explained how TNDC relies on residual receipts to manage deficits caused by inflation and the pandemic's impact on rent payments. He emphasized the importance of these funds for capital improvements that ensure the safety and quality of their properties.

The meeting also included remarks from Yolena Zobrosane, vice president of asset management with Mercy Housing. Zobrosane supported the delegation of authority for ground lease amendments to the Mayor's Office of Housing and Community Development (MOCD). She noted that this change would streamline processes, saving time for both affordable housing providers and city staff, ultimately enhancing the delivery of quality affordable housing. Zobrosane highlighted the financial strain on the nonprofit housing sector post-COVID, with significant outstanding tenant receivables affecting operations.

Overall, the meeting underscored the pressing challenges faced by nonprofit affordable housing developers in San Francisco, particularly in light of recent environmental and economic pressures. The discussions reflected a collective call for increased support and resources to sustain and improve affordable housing initiatives in the city.

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