SAN FRANCISCO - Oct. 14, 2015 - PRLog -- Posted courtesy of Wright Enterprises:
Contact: Mayor’s Office of Communications, 415-554-6131
*** PRESS RELEASE ***
MAYOR LEE CELEBRATES MILESTONE IN U.S. DEPARTMENT OF HOUSING & URBAN DEVELOPMENT PARTNERSHIP TO RE-ENVISION, REVITALIZE & REBUILD CITY’S PUBLIC HOUSING
HUD Partnership to Transform City’s Public Housing for 8,000 Low-Income San Franciscans & Provide National Model to Preserve & Rebuild Public Housing in U.S. Cities & Protect Nation’s Most Vulnerable
San Francisco, CA—Today Mayor Edwin M. Lee joined by U.S. Housing and Urban Development (HUD) Secretary Julián Castro, House Democratic Leader Nancy Pelosi and Board of Supervisors President London Breed highlighted the Phase 1 implementation of the $1.69 billion transformation plan for San Francisco’s public housing system for extremely low-income households living in distressed conditions. This HUD partnership will allow San Francisco to leverage approximately $700 million in investor equity and other new resources and allow for the rehabilitation of up to 4,584 public housing units for 8,000 low-income San Franciscans through HUD’s Rental Assistance Demonstration (RAD) program – among the biggest public housing portfolio conversions in the country.
“This innovative tool allows us to revitalize and rebuild our distressed public housing – without displacing existing tenants – for our extremely low-income families and residents,” said Mayor Lee. “Through this public-private partnership, we will finally be able to re-envision public housing for thousands of very low-income San Franciscans, and I thank HUD Secretary Castro, Leader Pelosi, President Breed and the entire Board of Supervisors for working together with our partners to ensure that San Francisco’s public housing is clean, safe and in good condition for our most in need families.”
“With the RAD initiative, we have dramatically accelerated the pace of progress for residents and families across San Francisco,” said House Democratic Leader Nancy Pelosi. “Through this innovative public-private partnership, we are unleashing new resources, protecting tenants’ rights, and preserving a strong voice for our families in the housing policy decisions that affect their communities. We are leveraging a better future for thousands of public housing families, and my thanks are with Mayor Lee and Secretary Castro for their commitment to confronting the affordable housing crisis in our city.”
For Complete News Release Click Here:
http://www.sfmayor.org/index.aspx?recordid=967&page=846
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Francis Tsang | Chief Deputy Communications Director
Office of Mayor Edwin M. Lee
415.554.6467 | francis.tsang@sfgov.org
Contact
City and County of San Francisco
***@sfgov.org
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Read Full Story - U.S. Rep. Nancy Pelosi, HUD's Castro, BOS President London Breed & Mayor Lee Announce Housing Win! | More news from this source
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