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Board approves financing and acquisition for 137‑unit 100% affordable 4840 Mission Apartments
Summary
Supervisors unanimously approved acquisition, loan and multifamily revenue note authorizations to finance the 137‑unit 100% affordable 4840 Mission Apartments, including funds to support formerly homeless families and working households.
The Board of Supervisors on May 4 approved two resolutions to finance and acquire property for the 4840 Mission Apartments, a 137‑unit, 100 percent affordable multifamily rental project currently under construction.
Item 17 authorized acquisition of the real property and approved a loan not to exceed $28,700,000; the board file described an exchange that includes approximately $8,100,000 in credits and a ground lease with…
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