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Committee forwards $20 million AHSC award for 100% affordable housing and transit improvements on Treasure Island
Summary
The committee approved forwarding a $20 million Affordable Housing and Sustainable Communities (AHSC) award to support a 138-unit, 100% affordable project on Treasure Island and transportation improvements; approximately $13.75 million will go to Mercy Housing for housing development.
The Budget & Finance Committee voted to forward to the full Board of Supervisors an "accept and expand" resolution to accept a $20,000,000 award from the California Department of Housing and Community Development (HCD) under the Affordable Housing and Sustainable Communities (AHSC) program.
Bob Beck of the Treasure Island Development Authority (TIDA) said the award includes approximately $13,750,000 directed to Mercy Housing to support a 138-unit, 100% affordable housing project on Treasure Island that will include 71 replacement units, 23 transitional units and 44 new affordable units. Beck also detailed transportation components: funding for bike-and-ped improvements connecting to the East Span bike path, AC Transit service, an intermodal hub serving bus and ferry, transit pass subsidies for new residents, and a small grant to the San Francisco Bicycle Coalition for education and advocacy.
Beck said the AHSC grant was applied for jointly with Mercy Housing following a 2018 NOFA and a 2019 Board authorization to apply. The committee heard that HCD issued an award in July 2019, and the resolution before the committee authorizes TIDA to execute the standard agreement and accept the funds. With no public comment, the committee moved the item to the full board with a positive recommendation.
