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Committee backs four AHSC joint applications for affordable housing projects
Summary
Supervisors voted to forward four resolutions authorizing the City to apply jointly for AHSC (cap-and-trade) funds for four affordable-housing projects (items 4—7). MOHCD described unit counts, set-asides for families and homeless families, and that each project may seek up to $50 million (housing loan plus transportation grant) under the program.
The Budget & Finance Committee voted to forward to the full Board four resolutions (items 4—7) authorizing the Mayor—s Office of Housing and Community Development to apply, on behalf of the City and as a joint applicant, for Affordable Housing & Sustainable Communities (AHSC) grants for four 100% affordable housing developments.
Sheila Nicholas, director of policy and legislative affairs for MOHCD, told the committee each project will apply as a joint applicant and that AHSC awards combine a housing loan (up to about $35 million) and a transportation-related grant (up to about $15 million) for a total potential award of roughly $50 million per project. Nicholas said joint applications require the city to assume joint-and-several liability for completing the full project, including any transit/transportation improvements.
The projects presented were: Item 4 (Related Companies of California LLC and San Francisco Housing Development Corporation at 160 Freelon; about 85 units, including 22 units reserved for families and 5 set aside for plus housing referrals); Item 5 (MidPen Housing Corporation, 850 Turk Street; ~92 units); Item 6 (Bridge Housing Corporation, Balboa Reservoir Building A; 159 units); and Item 7 (Mercy Housing California, Transbay 2 East; 184 units including 40 reserved for homeless families). Nicholas said applications are due April 4 and that teams were preparing joint funding requests to maximize competitiveness.
Chair Chan proposed and the committee approved a technical amendment to item 7 to clarify AHSC program funding language. Vice Chair Rafael Mandelmann and Supervisor Asha Safaie expressed support and asked to be added as co-sponsors on some items. After the amendment, the committee voted to forward items 4 through 7 to the full Board with a positive recommendation (Mandelmann, Safaie and Chan voting "aye").
The AHSC program funds a mix of land-use, housing and transportation improvements intended to support infill development and greenhouse gas reductions through compact development and transit enhancements. The committee did not set conditions beyond the technical amendment to item 7; more detailed project funding requests and applications will be reviewed during the Board process.
