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Committee clears $76 million tax-exempt financing for Sunnydale Block 7; forwards to full board
Summary
The San Francisco Board of Supervisors' Government Audit and Oversight Committee voted 3-0 to forward a resolution authorizing up to $76 million in tax-exempt and taxable bonds to finance an 89-unit affordable housing project at Sunnydale, with 67 units reserved as replacement homes for former public housing residents.
The Government Audit and Oversight Committee of the San Francisco Board of Supervisors voted unanimously June 27 to send a resolution to the full Board recommending authorization of up to $76 million in tax-exempt and taxable bond financing for Sunnydale Hope SF Block 7.
The resolution would authorize the city to execute and deliver a multifamily housing revenue note in one or more series with an aggregate principal amount not to exceed $76,000,000 to finance construction of an 89-unit rental housing project at 65 Santo Street, known as Sunnydale Hope SF Block 7. The committee forwarded the item as a positive committee report for consideration by the full Board on July 1, 2025.
Why it matters: The Sunnydale redevelopment is part of the Hope SF initiative, a long-running, multi-phase effort led by the Mayor’s Office of Housing and Community Development to replace aging public housing with mixed-income communities.…
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