On July 8, 2025, the San Francisco Board of Supervisors approved the issuance of up to $76 million in multifamily housing revenue notes to fund construction of the Sunnydale HOPE SF Block 7 project at 65 Santos Street. The financing comprises a tax-exempt series of up to $53.305 million and a taxable series of up to $19.801 million, with permanent financing provided by Citibank, N.A. through a forward purchase agreement. The City authorized back-to-back loans under the Funding Loan Agreement and Borrower Loan Agreement, approved related security instruments, and rescinded Resolution No. 162-25. The financing is secured by construction leasehold deeds of trust, assignments of rents, and borrower and guarantor commitments, and preserves the project’s tax-exempt status through compliance with IRS arbitrage rebate and private activity bond requirements.