Meeting

Citywide Affordable Housing Loan Committee Meetings

Mayor's Office of Housing and Community Development

Meeting details

Date and time

to

How to participate

Online

Microsoft Teams Call in by phone 415-906-4659 Phone Conference ID 893 812 818

Agenda

1

Request for permanent financing, grant financing, and approvals to utilize HCD funds for 629 Post Street

Swords to Plowshares ("Sponsor"), a non profit serving Veterans, requests MOHCD approval of the City's permanent loan financing and acceptance of the increased State Homekey+ Conditional Award of up to $18,684,520 an increase from the $13.2 million previously assumed and approved by the Loan Committee on March 4, 2026. As now required by HCD, all Homekey+ grant funds will need to flow through MOHCD to 629 Post, LLC.

MOHCD's staff are also proposing a structural change to the MOHCD Capitalized Operating Subsidy Reserve (COSR) from what was previously approved by the Loan Committee. Staff request approval to convert the MOHCD COSR from a long term loan to a grant, consistent with MOHCD policy and current permanent supportive housing practices. This change will be implemented through the forthcoming third amendment (the Amended and Restated Loan and Grant Agreement), which willl remove the COSR from the capital loan and establish it under a seperate COSR Grant Agreement.

Swords to Plowshares