Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Housing Acquisition topic
No spam. Unsubscribe anytime.
Board authorizes Project Homekey funds and local matching commitment for 42 Otis Street acquisition
Summary
Supervisors approved a resolution authorizing the Department of Homelessness and Supportive Housing to accept approximately $8.2 million in Project Homekey funds for acquisition of 42 Otis Street and commit about $8.7 million in local match, to create permanent supportive housing.
The Board adopted a resolution authorizing the Department of Homelessness and Supportive Housing to accept and expend approximately $8,200,000 in Project Homekey grant funds from the California Department of Housing and Community Development for acquisition of the property at 42 Otis Street, retroactive to cover eligible costs from 03/03/2021 through 06/30/2026. The resolution also authorizes HSH to commit approximately $8,700,000 in matching city funds and a 10-year minimum of operational subsidies for permanent supportive housing at the site.
The clerk summarized the funding amounts and timeline and the board took the item same house same call; the resolution was adopted without objection.
Why this matters: Project Homekey acquisitions are intended to convert properties into permanent supportive housing. The combined state and city commitments represent a multimillion-dollar local investment in housing for people experiencing homelessness at a specific site in San Francisco.
What’s next: HSH will complete acquisition and proceed with required operations and reporting; the clerk noted the resolution affirms CEQA determinations and makes appropriate findings.
