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Committee forwards two affordable-housing financing items: Turk & Eddy ground lease and Ambassador Hotel bond request
Summary
The committee forwarded an amended long-term ground lease for an 82-unit affordable project at Turk and Eddy and a conduit bond allocation request for the Ambassador Hotel rehabilitation (55 Mason Street), both to be returned to the Board for final approvals.
The Budget and Finance Committee on Jan. 29 moved two housing finance items to the full Board with positive recommendations: an amended ground lease for an 82-unit 100% affordable rental project at Turk and Eddy Streets, and a resolution to seek tax-exempt mortgage revenue bonds for rehabilitation of the Ambassador Hotel at 55 Mason Street.
MOHCD (represented in the record by Holly Faust for the ground lease and Caroline McCormack for the bond request) told the…
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