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Committee backs bond applications to finance three affordable‑housing projects including teacher housing
Summary
The Budget and Finance Committee voted Jan. 27 to forward three MOHCD resolutions seeking tax‑exempt bond allocations for Hunters View Phase 3, Potrero Block B and Shirley Chisholm Village; staff said allocations would enable construction financing but would not pledge city funds.
The Budget and Finance Committee on Jan. 27 recommended that the full Board of Supervisors support three applications to the California Debt Limit Allocation Committee (CDLAC) to permit tax‑exempt bond financing for three affordable‑housing developments in San Francisco.
Jonathan Gagan, a project manager at the Mayor’s Office of Housing and Community Development, told the committee the requests would permit conduit bond financing that does not require the city to pledge its general fund. He said Hunters View Phase 3 would be a 118‑unit development at 1151 Fairfax Avenue and 112 Middlepoint Road, with 82 units serving households earning less than 50% of area median income. Potrero Block B is a 157‑unit project at 1801/20 Fifth Street with units targeted to 30–60% AMI and 75% set aside as replacement units for households with a right to return. Shirley Chisholm Village, developed in collaboration with SFUSD, is a proposed 135‑unit project at 1360/40 Third Avenue that would reserve units for paraeducators and educators at incomes ranging from 40% to 120% AMI.
Supervisors voiced support for the projects’ goals and local benefits. Supervisor Marr highlighted Shirley Chisholm Village as the city’s first purpose‑built educator housing, calling it “extremely important” for teacher retention in his district. Vice Chair Safaei noted the projects advance the city’s HOPE SF redevelopment objectives and asked that his name be added as a co‑sponsor on the bond items.
Chair Matt Haney moved the three items to the full Board with a positive recommendation; the committee recorded three ayes and the items will be calendared for the Board of Supervisors. MOHCD said it will return to the Board for bond issuance approvals if the projects receive CDLAC allocations and anticipated construction financing closings in fall 2021 if awards are made.
