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Committee backs small‑sites refinancing and a Homekey bid to convert a SoMa building into young‑adult housing
Summary
The committee approved forwarding a bundled refinancing for four small‑sites properties (reduced to $18.7M per BLA) and authorized the department to apply for up to $14.7M in Homekey funds to acquire 1174 Folsom for 42 units of permanent housing for young adults.
The Mayor’s Office of Housing and Community Development asked the committee to approve Item 5: a permanent refinancing package for four small‑sites buildings owned by the San Francisco Community Land Trust (36 units across four properties) using bundled SSP/PASS financing to recapitalize loans, increase reserves and fund capital repairs. MOHCD staff explained bundling lowers finance and administrative costs and requested amendment to align the…
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