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Committee backs 15-year operating subsidy for Kelly Cullen supportive-housing project
Summary
The committee recommended a 15-year local operating subsidy agreement totaling up to $18,475,118 to support 172 units (plus two managers' units) at the Kelly Cullen Community (220 Golden Gate), including a ground-floor public health clinic to serve tenants and the Tenderloin neighborhood.
The Budget & Finance Committee recommended Board approval of a 15-year local operating subsidy program (LOSP) grant agreement for the Kelly Cullen Community at 220 Golden Gate Avenue, authorizing the Mayor's Office of Housing to execute a contract not to exceed $18,475,118.
Wilson Li of the Mayor's Office of Housing introduced the item and Lydia Ely, the project's manager, described the LOSP's purpose: to provide a local operating subsidy when other sources are not available and thereby leverage capital financing for supportive housing. Ely said the LOSP has operated since 2005 and supports projects where federal…
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