The Board of Supervisors Budget and Finance Committee (Supervisors Mar, Haney and Safei) will meet Wednesday, July 14, to consider recommending to the  Board of Supervisors, a predevelopment loan for 2550 Irving of $14 million to purchase the property. 

 

This is a critical juncture for TNDC in moving the project forward but there are many unresolved questions / concerns.  The hearing starts at 10:30 am, but the discussion around 2550 Irving St is the last one on the agenda. 
 

MSNA does NOT recommend approval of the loan at this time without getting better information from the City of SF agencies, the developer TNDC and the Police Credit Union.

 

We encourage you to participate in the Public Comment portion of the meeting. You will have 1-2 minutes to call-in and express why you are opposed to the approval of this loan.  Details on how to do so are below.

Make your voice heard! This may be the only option for public comment so please dial in. 

 

What: Budget and Finance Committee Hearing to recommend approval of the Loan 
 

When: Wed., July 14th, 10:30 AM
 

Link to watch: follow the meeting on Cable TV Ch 26,78, or 99 or at: www.sfgovtv.org
 

Phone Number to call for public comment: 415-655-0001, Meeting ID 146-161-0659
 

The agenda item (file) # is: 210763

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Additional public call-in comment instructions can be found here.

 

Some unresolved issues / concerns:
 

- Site Toxicity - who will be responsible for the remediation of the toxic substances at 2550 Irving St? If the loan is funded, the existing owner, the Police Credit Union, will be absolved of any responsibility to the neighbors who have been exposed to the toxic substances. How will future residents of the building as well as the neighbors be protected from the health risks?
 

- Fiduciary Obligations - why is the City of SF providing a $14 million loan to buy a $9 million +  property without any independent and third party validation? Our requests for an appraisal to validate the costs have been ignored. Do the Board of Supervisors have an obligation to judiciously spend the taxpayers money?
 

- No Market Rate Study - why was there no market rate study completed to independently validate the costs of this project? The MOHCD has indicated they have validated the developer's proposed costs but there was no competitive bid for this project? The MOHCD has not provided any analysis to validate this use of taxpayer monies.
 

- Poor Community Outreach - despite multiple assurances that the developer would conduct robust community outreach, the virtual only sessions offered very little information and no opportunity for feedback. The developer has not even released a proposed design for the project to capture community feedback but will be granted $14 million to acquire the property and initiate pre-development (if this loan is approved). The attendance for the "community" sessions was capped so not all neighbors could attend and participation was muted. There was no option for in person community discussions which has alienated residents who are less comfortable with technological solutions or cannot afford high speed internet. 
 

- Alternative solutions for Affordable Housing - the MOHCD indicated they have not sought any alternative solution to creating Affordable Housing in the D4 outside of recommending public funding of $94 million or ~$1 million per unit to fund this project. Alternative solutions to redeploy vacant housing / commercial spaces into Affordable Housing at a much lower cost and with an expedited timeline, have not been considered. 
 

- No Investment in the Community - this project is proposing spending $94 million + (~$1 million per unit) but there are no funds allocated to invest in improving the community infrastructure - no specific funding for public transportation, sewage, hygiene, or other community amenities.
 

Thank you!
 

Mid-Sunset Neighborhood Association

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