The San Francisco Board of Supervisors approved resolutions for loan agreements to finance the Golden Gate Avenue Phase I projects. This includes a $12.5 million loan for a 55-unit low-income housing development with a preference for SFUSD and SFCCD employees, a $10.2 million loan for a 20-unit moderate-income housing project, and a $1.25 million loan for a parking garage project for State employees using IIG funds. These loans, totaling up to $22,747,350, will enable the creation of affordable housing and community infrastructure.
This financing supports critical affordable housing for low- and moderate-income households and essential infrastructure, addressing housing needs and strengthening community development in San Francisco.