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Committee backs $2.7 million SoMA subsidy for 49 deep-affordability units at 333 Harrison
Summary
The committee recommended the Mayor's Office of Housing expend approximately $2.7 million from the SoMA Community Stabilization Fund to support 49 on-site rental units at 30% AMI at 333 Harrison Street, subject to developer commitments on local hiring, deposits to a community credit union and quarterly reporting to the SoMA CAC.
The Budget and Finance Committee recommended that the Board of Supervisors approve a resolution authorizing the Mayor’s Office of Housing to expend approximately $2,762,000 from the SoMA Community Stabilization Fund to subsidize on-site affordable rental housing for a developer-led project at 333 Harrison Street.
Claudine Bridal Rosario, presenting for the Mayor’s Office of Housing, said the proposal would support 49 rental units targeting households at 30% of area median income (AMI), representing roughly 15% of units at the site. Rosario said the SoMA Community Stabilization Fund—established by a 2005 planning-code amendment—must be used to mitigate development impacts and the SoMA CAC voted unanimously to recommend directing approximately $2.7 million of fees toward deeper affordability at the site.
Rosario read revisions to the resolution that condition the funding on developer commitments including: exempting the funded affordable units from the Costa Hawkins Rent Control Act as noted in the revisions; employment and local-hire commitments (including an objective to hire 50% of entry-level construction/non-construction jobs from the local community and at least 30% summer residents for initial employment); hiring a contractor able to meet local-hire reporting; depositing $100,000 within seven days and $150,000 within seven months to a Northeast Credit Union to support SoMA residents and small businesses; quarterly meetings with the SoMA CAC; notice of job opportunities and quarterly reporting on local-hire outcomes.
Connie Ford, vice chair of the SoMA CAC, said the seven-person committee unanimously supported the conditions and emphasized the fund’s accountability requirements. Supervisor David Campos, sponsor of the resolution, asked for committee support; public comment was opened and closed with no speakers and the committee advanced the amended resolution without objection.
