MEETING
Citywide Affordable Housing Loan Committee Meeting
Meeting details
Date and time
How to participate
Online
Agenda
Request for PASS financing for 3434 18th Street
Mission Housing Development Corporation (MHDC) requests $1,500,000 in PASS financing to partially reimburse the costs of a recent rehabilitation of the existing 8 units and the addition of 3 Accessory Dwelling Units (ADUs) at a scattered site located at 3434 18th st. in the Mission District. The $4.8M rehabilitation significantly upgraded the interiors of existing units and façade, in addition to adding the ADUs. Providing the PASS financing would permanently restrict the 3 new ADUs at the building as affordable, and the new Declaration of Restrictions would limit all units to 50-60% MOHCD AMI. It would also enable Mission Housing to conduct further rehabilitation at other properties in their portfolio, because it reimburses funds used from a previously-approved cash-out refinance from Mariposa Gardens, approved in 2021.
Mission Housing Development Corporation
Partner agencies
Meeting details
Date and time
How to participate
Online
Agenda
Request for PASS financing for 3434 18th Street
Mission Housing Development Corporation (MHDC) requests $1,500,000 in PASS financing to partially reimburse the costs of a recent rehabilitation of the existing 8 units and the addition of 3 Accessory Dwelling Units (ADUs) at a scattered site located at 3434 18th st. in the Mission District. The $4.8M rehabilitation significantly upgraded the interiors of existing units and façade, in addition to adding the ADUs. Providing the PASS financing would permanently restrict the 3 new ADUs at the building as affordable, and the new Declaration of Restrictions would limit all units to 50-60% MOHCD AMI. It would also enable Mission Housing to conduct further rehabilitation at other properties in their portfolio, because it reimburses funds used from a previously-approved cash-out refinance from Mariposa Gardens, approved in 2021.
Mission Housing Development Corporation