2015 Affordable Housing General Obligation Bond CGOBOC Update January 27, 2020 Mayor’s Office of Housing and Community Development City and County of San Francisco 1
Who We Serve Retail Clerk Restaurant Staff Healthcare Assistant Teacher Police Officer $24,000/year $30,000/year $40,000/year $60,000/year $90,000/year Program Summary (in millions) Public Housing for people earning Low-Income Housing for people earning Middle-Income $30,000 or less per year $30,000 - $70,000 per year Housing for people earning $70,000 - $120,000 per year
• Over 99% of first issuance funds encumbered Update – and over 91% 1 st Issuance spent • First bond issuance is Expenditure Details as of projected to be December 31, 2019 fully expended by early 2020 • Sunnydale Parcel Q (Public Housing) completed in December 2019 Mayor’s Office of Housing and Community Development 3
• Almost 91% of second issuance funds encumbered Update – and almost 58% 2 nd Issuance spent • Second bond Expenditure Details as of issuance is December 31, 2019 projected to be fully expended by late 2020 • 1296 Shotwell (Low-Income) completed in November 2019 Mayor’s Office of Housing and Community Development 4
• Third issuance completed in October 2019 Update – • Third bond 3 rd Issuance issuance is projected to be fully expended Expenditure Details as of by late 2023. December 31, 2019 Third issuance expenditure schedule is driven by $25M allocation to educator housing in 43 rd and Irving which will start construction late 2021 Mayor’s Office of Housing and Community Development 5
Update – Unit Production Summary as of December 31, 2019 (All Issuances) Mayor’s Office of Housing and Community Development 6
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