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Supervisors advance five inducement resolutions to seek CDLAC bonds for housing projects
Summary
The Budget & Finance Committee advanced five inducement resolutions authorizing sponsors to apply to the California Debt Limit Allocation Committee for residential mortgage revenue bonds to fund two new developments and three rehabilitation projects across San Francisco. Sponsors said the financing is conduit debt and does not pledge city funds.
The San Francisco Board of Supervisors Budget & Finance Committee advanced five inducement resolutions on Wednesday that would allow project sponsors to apply to the California Debt Limit Allocation Committee (CDLAC) for residential mortgage revenue bonds to finance two new developments and three rehabilitation projects.
Sophie Hayward, director of policy and legislative affairs at the Mayor’s Office of Housing and Community Development, presented the items and said the proposals use conduit financing, which will not obligate the city’s general fund.…
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