Measure U Affordable Housing Funding

At a glance

What: Resolution allocating Measure U housing bond and other non-bond funds, up to $50,000,000 including administrative costs, for affordable housing: new multifamily rental construction, rapid response homeless housing and Homekey, acquisition and conversion, and rehabilitation. It also lets the City Administrator reallocate budgeted housing funds (impact fees, program income, loan repayments), make development loans and grants, reallocate previously authorized funds among Measure U tranches 1, 2 and 3, and adds up to $2,000,000 to the Health and Safety Rehabilitation Program (amending Resolutions 86126, 86366 and 89605 C.M.S.). File 27-0112, Housing & Community Development Department.
Where it stands: Resolved. Adopted October 20 on the consent calendar.

Committee amendments (October 13)

First resolve clause: allocation made contingent on the issuance and sale of Measure U Tranche 3 bonds in a sufficient amount and approval of final project funding authorization legislation.
Second further resolved clause: added "as consistent with Measure KK and associated resolutions approving the final project and program funding."
Fourth further resolved clause: "among" replaced by "from," adding consistency with Measure U and the resolutions approving final funding for each tranche.
Moved by Councilmember Fife, seconded by Councilmember Brown, 4 to 0. Six speakers.

Adopted on the consent calendar, 6 to 0 (Gallo and Jenkins excused). Supplemental legislation dated October 15 was posted; the minutes do not itemize it.