Olson lee, Mayors Office of Housing Community development. ~ director of [speaker not understood]. [speaker not understood] and to work with lowincome communities to support them. Our housing budget reflects sort of the change that the mayor discussed in terms of increasing the amount of Affordable Housing funding through the use of the bonding the Housing Trust fund. It grows substantially from this current fiscal year to the next, an increase of nearly 34 million to allow this office to initiate request for proposals for Affordable Housing throughout the city. In the subsequent years there is relatively stable. The shortfall is primarily related to onetime sources of revenue in the 1415 budget overall. The voters approved the Housing Trust fund which provides the Mayors Office of housing and Community Development approximately 1. 5 billion over the next 30 years. In the initial allocation of the Housing Trust fund, that allocation was with 20 million which increases he by 2. 8 millio
Work with lowincome communities to support them. Our housing budget reflects sort of the change that the mayor discussed in terms of increasing the amount of Affordable Housing funding through the use of the bonding the Housing Trust fund. It grows substantially from this current fiscal year to the next, an increase of nearly 34 million to allow this office to initiate request for proposals for Affordable Housing throughout the city. In the subsequent years there is relatively stable. The shortfall is primarily related to onetime sources of revenue in the 1415 budget overall. The voters approved the Housing Trust fund which provides the Mayors Office of housing and Community Development approximately 1. 5 billion over the next 30 years. In the initial allocation of the Housing Trust fund, that allocation was with 20 million which increases he by 2. 8 million annually until it reaches about approximately 50. 8 Million Dollars in 2024 ~. At that point the allocation rises up and down wit
~ from the Housing Authority. Thank you. Hi, mr. Lee. Good morning, supervisors. Olson lee, Mayors Office of Housing Community development. ~ director of [speaker not understood]. [speaker not understood] and to work with lowincome communities to support them. Our housing budget reflects sort of the change that the mayor discussed in terms of increasing the amount of Affordable Housing funding through the use of the bonding the Housing Trust fund. It grows substantially from this current fiscal year to the next, an increase of nearly 34 million to allow this office to initiate request for proposals for Affordable Housing throughout the city. In the subsequent years there is relatively stable. The shortfall is primarily related to onetime sources of revenue in the 1415 budget overall. The voters approved the Housing Trust fund which provides the Mayors Office of housing and Community Development approximately 1. 5 billion over the next 30 years. In the initial allocation of the Housing
And thats focused on an initiative called the pay for success initiative. Its a onetime grant which is why it appears in the first year and is not budgeted in the second year. We also have an additional 150,000 committed by partnership of foundations led by the haase foundation for 150,000 to be matched by 150,000 of general fund. Great, thank you. Item number 5 is an ordinance amending the administrative code to eliminate the Mayors Office of housing and Community Development Escrow Account Administration fee. Item number 10, resolution approving a waiver of the payment in lieu of taxes for fiscal years 20142015 and 20152016 from the Housing Authority of the city and county of San Francisco. ~ from the Housing Authority. Thank you. Hi, mr. Lee. Good morning, supervisors. Olson lee, Mayors Office of Housing Community development. ~ director of [speaker not understood]. [speaker not understood] and to work with lowincome communities to support them. Our housing budget reflects sort of t
Affordable housing, with another 7 spent on Community Investment and Community Development. So, nearly 90 on the budget of mohcd. This slide shows you what is going on with the [speaker not understood] spending on Affordable Housing [speaker not understood], being the largest portion of our budget and about 7 on salaries and 3 on fringe benefits. Overall the Mayors Office budget increased by 37 34. 7 million to 86. 8 million in fiscal 1415. 81 of that total budget focusing on housing and Community Development grants and loans. And as i think ive shared with you and as the mayor talked about in his budget speech, much of that growth is related to our initiative to leverage the Housing Trust fund by bonding growth in that trust fund to generate new resources for Affordable Housing production. The mayor and his administration excluding [speaker not understood] by about 8 25,000 and thats about 30 from salary and fringe benefit changes and about 70 from the new office of Strategic Partners