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Committee advances bond and ground‑lease for 67‑unit affordable housing project
Summary
The Budget & Finance Committee advanced a resolution to issue up to $25 million in multifamily housing revenue bonds and approved conveyance and a long‑term ground lease to Mercy Housing California for a 67‑unit development at 1009 Howard Street; the project includes units targeted at households with incomes at or below 50% AMI and 14 units under HUD Section 811.
The San Francisco Board of Supervisors’ Budget & Finance Committee voted to advance a bond issuance and property conveyance this week to support construction of a 9‑story, 67‑unit affordable rental housing development identified in the meeting record as the "Bill Soro" community.
Kevin Kitchen, identified in the record as the Mayor’s Office of Housing and Community Development project manager for the site, told the committee the resolution would authorize issuance of up to $25,000,000 in multifamily housing revenue bonds to help the developer, Mercy Housing, secure construction financing at an…
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