The Board of Supervisors authorized the issuance of up to $64 million in multifamily housing revenue notes to finance MP Turk Street Associates’ construction of a new eight-story, 92-unit rental building at 850 Turk Street. The development, led by MidPen Housing Corporation, will deliver affordable studio through three-bedroom apartments restricted at 40%–60% AMI. The City’s conduit financing through tax-exempt bonds supports a broader capital stack including low-income housing tax credits, Mayor’s Office gap funding, and state grants. The resolution also approved related loan and regulatory agreements, setting long-term rent restrictions and ensuring compliance with state CDLAC and federal tax requirements.