COUNCIL AGENDA: 5/23/23
FILE: 23-749
ITEM: 8.2
TO: HONORABLE MAYOR FROM: Jacky Morales-Ferrand
AND CITY COUNCIL
SUBJECT: SEE BELOW DATE: May 23, 2023
Approved Date
5/23/2023
SUPPLEMENTAL
SUBJECT:
ISSUANCE OF MULTIFAMILY HOUSING REVENUE NOTES AND THE
LOAN OF THE PROCEEDS THEREOF FOR 777 WEST SAN CARLOS
PROJECT
REASON FOR THE SUPPLEMENTAL
The purpose of this memorandum is to provide an update regarding the commitments for Round 1 and 2 2021 NOFA Summary of Selected Developments. These developments will provide much- needed permanent supportive housing for residents who are experiencing homelessness, as well as for individuals and families who earn extremely low, very low, and low incomes in the range between 30% to 60% of area median income. Eleven NOFA-awarded developments will offer 1,211 homes, comprising 535 two- and three-bedrooms to approximately 2,000 people within the next 2-3 years.
HONORABLE MAYOR AND CITY COUNCIL
May 23, 2023
Subject: Supplemental - Issuance of Multifamily Housing Revenue Notes and the Loan of the Proceeds Thereof for 777 West San Carlos Project
HONORABLE MAYOR AND CITY COUNCIL
May 23, 2023
Subject: Supplemental - Issuance of Multifamily Housing Revenue Notes and the Loan of the Proceeds Thereof for 777 West San Carlos Project
/s/
JACKY MORALES-FERRAND
Director, Housing Department
For questions, please contact Rachel VanderVeen, Assistant Director of Housing, at (408) 535- 8231.