According to a mandate from the state, San Francisco is supposed to create more than 46,000 affordable units by 2031 – that’s a little less than 6,000 units a year. For a number of reasons, including lack of funding, the city is far behind on this goal.
However, a federal program called the “Faircloth-to-RAD” option could create or designate, and permanently subsidize 3,668 deeply affordable rental units in SF. But that’s only if the San Francisco Housing Authority — or SFHA — applies for the funding.
According to Supervisor Dean Preston, SFHA has been slow to initiate the application process which is why, last week, he introduced a resolution calling on them to get started.
“They have for the first time shared that they intend to do feasibility analysis to identify potential sites and initiate Faircloth-to RAD applications this calendar year.”
However, Preston isn’t entirely satisfied with the Housing Authority’s agreement.
“Even what they're currently proposing does still fall a bit short of what other cities, most notably Boston, are doing, which includes broadly publicizing an invitation for all potential development partners to propose sites and projects within San Francisco.”
On Tuesday evening, the Board of Supervisors unanimously approved the resolution.
Now, it’s up to SFHA and the Mayor’s Office of Housing and Community Development to complete a feasibility analysis and begin the application process.
However, in an email to KALW, SFHA refuted the claim that the program will create deeply affordable units. They said “The program only provides low level rent subsidies [...] which cannot support the operations of a typical affordable housing unit. Equally important, the Faircloth-to-RAD program does not provide construction financing, which must be leveraged/augmented by other funds to cover costs of development.”
They have 30 days to report their findings back to the Board.
