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City approves loan to preserve three Bernal Heights affordable buildings
Summary
The Budget and Finance Committee forwarded to the full board a MOHCD loan package to preserve three nonprofit‑owned affordable buildings in the Bernal Heights portfolio, funding seismic retrofits and other urgent rehabilitation for 26 residential units.
The Budget and Finance Committee on March 26 moved forward a resolution authorizing the Mayor’s Office of Housing and Community Development (MOHCD) to provide a loan package of up to $11,595,214 to support rehabilitation and permanent financing for three existing nonprofit‑owned affordable buildings (a 26‑unit bundle known as the Bernal bundle).
Amanda Fukatomi Lopez, MOHCD preservation project manager, told the committee the loan package combines up to…
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