Supervisors approve bond financing plan to renovate Frederick Douglass Haines Gardens

Supervisor Brown urged support for a bond-financing resolution that will allow the Mayor's Office of Housing and Community Development to seek tax-exempt mortgage revenue bonds, up to approximately $47,700,000, for multiple properties including units associated with Frederick Douglass Haines Gardens.

“Frederick Douglass Haines Gardens is a 104-unit family project that serves primarily low income African American and African residents,” Supervisor Brown said. She described the city's intervention after the development paid off a HUD loan and was put up for sale on MLS; action by the city and housing partners sought to preserve long-term affordability and to prevent displacement.

Supervisor Brown said planned renovations funded by the tax credits and bonds would provide structural repairs, new amenities and ADA-accessible units, and she emphasized that “no one will be displaced, and the project will remain affordable forever.” The resolution declares the city's intent to reimburse project expenditures from future bond proceeds and authorizes application to the California Debt Limit Allocation Committee for residential mortgage revenue bond authority for a package of addresses included in the item.

The Board adopted the resolution unanimously. The transcript records no roll-call breakdown specific to this item beyond the consent vote noted earlier. Further details about financing structure, tax credit awards, and construction schedules were not specified in the Board discussion recorded in the transcript.