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Supervisor Preston urges housing authority to pursue Faircloth-to-RAD option to create thousands of deeply subsidized units
Summary
Supervisor Ahsha Safa? (transcript lists as Preston) introduced a resolution calling on the San Francisco Housing Authority to use the federal Faircloth-to-RAD option to create up to 3,668 new deeply affordable units with permanent HUD subsidy; Preston warned the application window requires action by Sept. 30, 2024.
Supervisor Dean Preston introduced a resolution at the March 28 meeting urging the San Francisco Housing Authority and the mayor's office to pursue the federal Faircloth-to-RAD option offered by the U.S. Department of Housing and Urban Development to create permanent federally subsidized rental units.
Preston said the city could create up to 3,668 new deeply affordable rental units by leveraging the city's Faircloth authority and HUD's time-limited financial tools. He said the…
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