Citywide Affordable Housing Loan Committee Meeting

Bernal Heights Housing Corporation (“BHHC” or “Sponsor”) requests approval of up to $1.2M in additional rehabilitation funding and the modification of an existing loan closing condition for the Bernal Bundle, a scattered site rehabilitation of three existing BHHC properties: Positive Match (1652 Eddy Street), Hazel Betsey (3554 17th Street), and 195 Woolsey (195 Woolsey Street).

In April 2024, the Sponsor received Citywide Affordable Housing Loan Committee approval for the Bernal Bundle’s rehabilitation funding. Since the original Loan Committee approval, Hazel Betsey was chosen as one of the properties to receive funds for elevator replacement from HSH’s Elevator Modernization Project (EMP) NOFA. Released in early 2024, the EMP NOFA was undersubscribed. Consequently, MOHCD and HSH agreed to provide a portion of the remaining funds to eligible permanent supportive housing projects requiring elevator repair in MOHCD’s portfolio. The Sponsor is requesting approval to increase the existing amount of a the previously approved loan commitment to the Bernal Bundle by $1,200,000, for a total rehabilitation loan amount of $7,481,158, with $4,114,056 in existing funds to be recast for a total MOHCD loan amount of $11,595,214.

The Sponsor is also requesting to modify the closing condition of achieving 90% occupancy across the Project to making 90% occupancy a condition of the first disbursement of the PASS loan. This modification will enable the Project to start its rehabilitation with non-PASS funds, while the lease up proceeds.

Bernal Heights Housing Corporation

McCormack Baron Salazar, representing five separate limited partnerships, requests $500,000 in loan funds to address immediate maintenance, repair, and habitability issues at Alice Griffith, a four-phase, five-project, 338-unit HOPE SF public housing revitalization project that serves very low-income households.

McCormack Baron Salazar