Special Notice / Hearing: None__
Vote Required: Majority
To: Honorable Board of Supervisors
From: Raymond Hodges, Director, Department of Housing
Subject: Measure K: Capitalized Operating Subsidy Reserve funding for 721 Airport South San Francisco
RECOMMENDATION:
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Measure K: Adopt a resolution:
A) Allocating $1,300,000 in Measure K reserves to fund a Capitalized Operating Subsidy Reserve to fund operating expenses and reserves of the 721 Airport permanent supportive housing project; and
B) Authorizing the Director of the Department of Housing, or designee, acting in consultation with the County Attorney, to negotiate and execute an agreement with 721 Airport LLC, to provide a Capitalized Operating Subsidy Reserve, in an amount not to exceed $1,300,000, for the 721 Airport permanent supportive housing project.
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BACKGROUND:
The Homekey Program is a State program that provides local public agencies with funding to purchase a broad range of property types, such as hotels, motels, vacant apartment buildings, and other properties, and convert them into permanent or interim housing for those experiencing homelessness, or at risk of homelessness, and disproportionately impacted by COVID-19 (the "Target Population").
This Board has authorized numerous actions in connection with the County's participation in the State Homekey Program to support the creation of permanent supportive housing for people experiencing homelessness. With this Board's authorization, the County used Homekey funds to acquire the former Ramada Inn located at 721 Airport Blvd., South San Francisco, with the intention of rehabilitating the property and converting it to permanent supportive housing (the "Project"). The Homekey program also provides operating subsidies for initial project operations.
This Board's past authorizations in connection with the Project are summarized as follows:
On June 13, 2023, the Board adopted Resolution Number 079743, which took t...
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