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Committee recommends three bond‑intent resolutions to support 423 affordable units across three projects
Summary
MOHCD presented three TEFRA/CDLAC bond‑intention resolutions to support affordable housing projects (600 Seventh St., Sunnydale Block 3B, Hunters Point Shipyard Blocks 52 & 54). The committee moved all three to the full Board with positive recommendations.
The Budget and Finance Committee recommended that the full Board consider three resolutions authorizing the Mayor’s Office of Housing and Community Development to seek tax‑exempt bond allocations for three affordable housing projects.
Joyce Len explained the purpose of the TEFRA hearings and described each project: 600 Seventh Street (221 units, Mercy Housing California, 54% of units for formerly homeless households); Sunnydale Block 3B (90 units, Related Companies & Mercy Housing, part of the HOPE SF Sunnydale revitalization); and Hunters Point Shipyard Blocks 52 & 54 (112 units, Jonathan Rose Companies, serving households at 30–50% AMI). MOHCD said the bond issuance would be conduit financing that does not pledge city funds, and that the city would return for final bond issuance approvals if CDLAC allocations are received this winter.
Committee members had no substantive objections and moved the items together to the full Board with a positive recommendation.
