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Committee backs package of housing financings, bond and grant applications
Summary
The committee recommended forwarding multiple affordable housing financing items to the Board, including conduit bond and loan actions for Fillmore Marketplace, 500 Turk/555 Larkin, Maseo May (401 Avenue of the Palms), CalHome grant applications, and a set of ASEC/IIG joint applications for several infill projects and Treasure Island infrastructure.
The Budget and Finance Committee forwarded a cluster of housing financing, bond and grant application items to the Board with positive recommendations after MOHCD and project teams presented project scopes, funding sources and timelines.
Fillmore Marketplace (1223 Webster Street): Christina Moon (MOHCD) explained item 4 would permit the mayor’s office to seek an allocation of residential mortgage revenue bonds (up to $24,000,000) to fund rehabilitation of this existing 120‑unit affordable complex. MOHCD said the bonds are conduit financing that would not pledge the city’s general fund and that renovations (windows, boilers, water system repairs and fire‑alarm upgrades) would not displace residents.
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