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Committee forwards $2 million SoMA stabilization fund awards to nonprofits with accountability measures
Summary
MOHCD asked the committee to expend $2 million from the SoMA Community Stabilization Fund on capital projects for local nonprofits; the BLA supported conditional approval requiring updated appraisals, renovation budgets and recorded use restrictions.
The Budget & Finance Committee voted to forward a resolution authorizing the Mayor—s Office of Housing and Community Development to expend $2,000,000 from the SoMA Community Stabilization Fund for capital projects, including acquisition and renovations intended to stabilize community‑based organizations in the South of Market neighborhood.
Claudine Rosario, grant coordinator at MOHCD, said the funds come…
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