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Committee approves amended loan terms for 936 Geary under Small Sites program
Summary
The committee forwarded a resolution approving up to $11.6 million in permanent financing for 936 Geary through the Small Sites program, preserving 31 units at below-market rates and preserving affordability via a deed restriction for up to 99 years.
The Budget and Finance Committee voted March 20 to forward to the Board of Supervisors a resolution approving permanent financing for the 936 Geary small sites project, reducing the requested not-to-exceed amount from $11.8 million to $11.6 million to match the project budget.
Sophie Rubin of the Mayor’s Office of Housing and Community Development…
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