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OCII approves $200,000 increase to Legacy Foundation down-payment assistance MOU
Summary
OCII authorized an amendment to its MOU with MOHCD to add $200,000 to the Legacy Foundation homeownership down-payment assistance program (raising the total to not to exceed $380,000), prioritizing certificate of preference holders for the first four years and estimating five forgivable loans (~$38,000 each).
The OCII Commission voted May 21 to authorize an amended and restated memorandum of understanding with the Mayor’s Office of Housing and Community Development (MOHCD) to administer Phase 2 of the Legacy Foundation down‑payment assistance program. The amendment increases the MOU amount by $200,000, bringing the total from $180,000 to an aggregate not to exceed $380,000 from the Phase 1 community benefits contribution for Hunters Point Shipyard Phase 1 DDA…
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