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Committee recommends bond reimbursements for two Tenderloin rehab projects that will preserve affordable units
Summary
The committee forwarded resolutions to declare intent to reimburse bond-financed rehabilitation work for Ambassador Ritz (55 Mason/216 Eddy) and Yosemite/Folsom Door (480 Eddy/75 Dorr), describing unit counts, affordability levels and projected closings in 2021.
The Budget and Finance Committee voted June 3 to recommend two MOHCD resolutions that declare the city's intent to reimburse certain project expenditures from proceeds of future bond indebtedness for two Tenderloin rehabilitation projects.
Caroline McCormack of the Mayor’s Office of Housing and Community Development described the Ambassador Ritz project (rehab of buildings at…
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