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Committee forwards transfer of ‘Upper Yard’ to Mayor’s Office for roughly $6.15M to create affordable housing
Summary
The committee forwarded a jurisdictional transfer of city property at Geneva Avenue and San Jose Avenue (the 'Upper Yard') from SFMTA to the Mayor’s Office of Housing and Community Development to enable roughly 130 affordable units; funding was described as a mix of city affordable housing funds and federal CDBG dollars.
The Government Audit & Oversight Committee on July 18 voted to forward to the full Board a resolution authorizing the transfer of city-owned property known as the Upper Yard (intersection of Geneva Avenue and San Jose Avenue; assessor block 6973, lot 309) from the San Francisco Municipal Transportation Agency (SFMTA) to the Mayor’s Office of Housing and Community Development (MOHCD) for approximately $6,150,000 to enable construction of about 130 affordable housing units.
Real estate staff described the parcel’s history, the interagency memoranda of understanding and ongoing negotiations with nearby BART on a 30-foot no-build easement needed for construction. Staff said the MOU process began in 2012 and negotiations and appraisals continued into 2014 and later; agencies now wish to transfer jurisdiction because the developer MOE (MOE/MOHCD) is clearer about what it can build and funding partners are in place.
The Budget Legislative Analyst reported the proposed transfer fee would be funded by roughly $3.7 million from the city's affordable housing fund and about $2.5 million in federal community development block grant (CDBG) funds, and recommended approving the proposed resolution. The committee moved the transfer forward to the full Board with a positive recommendation.
