2015 Affordable Housing General Obligation Bond CGOBOC Update - - PowerPoint PPT Presentation

2015 Affordable Housing General Obligation Bond CGOBOC Update

January 27, 2020

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Mayor’s Office of Housing and Community Development City and County of San Francisco

Program Summary (in millions)

Who We Serve

Police Officer $90,000/year Restaurant Staff $30,000/year Healthcare Assistant $40,000/year Retail Clerk $24,000/year Teacher $60,000/year Public Housing for people earning $30,000 or less per year Low-Income Housing for people earning $30,000 - $70,000 per year Middle-Income Housing for people earning $70,000 - $120,000 per year

Update – 1st Issuance

• Over 99% of

first issuance funds encumbered and over 91% spent

• First bond

issuance is projected to be fully expended by early 2020

• Sunnydale

Parcel Q (Public Housing) completed in December 2019

Mayor’s Office of Housing and Community Development 3

Expenditure Details as of December 31, 2019

Update – 2nd Issuance

Expenditure Details as of December 31, 2019

Mayor’s Office of Housing and Community Development 4

• Almost 91% of

second issuance funds encumbered and almost 58% spent

• Second bond

issuance is projected to be fully expended by late 2020

• 1296 Shotwell

(Low-Income) completed in November 2019

Update – 3rd Issuance

Expenditure Details as of December 31, 2019

Mayor’s Office of Housing and Community Development 5

• Third issuance

completed in October 2019

• Third bond

issuance is projected to be fully expended by late 2023. Third issuance expenditure schedule is driven by $25M allocation to educator housing in 43rd and Irving which will start construction late 2021

Update –

Unit Production Summary as of December 31, 2019 (All Issuances)

Mayor’s Office of Housing and Community Development 6