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Committee backs $8.1 million bond assistance for Fell Street Apartments to preserve 55 years of affordability
Summary
Supervisors advanced authorization for up to $8.1 million in multifamily housing revenue bonds to finance acquisition and rehab of the 82-unit Fell Street Apartments targeting families at 50–60% AMI; Bridge Housing and the Mayor's Office of Housing said the project required no new city financing and preserves long-term affordability.
The Budget and Finance Committee advanced a resolution authorizing issuance of up to $8.1 million in multifamily housing revenue bonds to finance acquisition and rehabilitation of the 82-unit Fell Street Apartments, a project intended to preserve housing for families at 50–60% of area median income for another 55 years.
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