The City Council approved a grant agreement with 180 Jones Associates, L.P. for $5,980,012 to provide operating subsidies for a 100% affordable housing project. This project, located at 180 Jones Street, consists of 70 multifamily residential units for low-income and formerly homeless households. The grant will be provided for a 25-year term. This operating subsidy is intended to increase the affordability and lower rents for the residents. The project had previously received a ground lease and a loan of $13,950,000 through Resolution No. 175-22 on May 13, 2022, for its construction and permanent financing. The grant agreement was recommended for approval by the Citywide Affordable Housing Loan Committee on June 20, 2025.