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SDHC TAPS INTO PROPERTY EQUITY, HUD SECRETARY UPDATED
 On August 9^th, the San Diego Housing Commission submitted a status report to Secretary Shaun Donovan, regarding the  repositioning of its 1,366 public housing units, which the U.S. Department of Housing and Urban Development (HUD) approved on September 10, 2007.  

 In the report, President & CEO Richard C. Gentry states, “I believe that the San Diego Housing Commission’s accomplishments reflect an intent similar to  your proposed initiative (Preservation, Enhancement and Transformation of Rental Assistance Act) that encourages housing authorities to tap into their equity and create public-private partnerships to preserve and produce more affordable housing.”  

Gentry further comments that the Housing Commission has met and exceeded the conditions of their agreement with HUD, which require the Housing Commission to produce “at least 350 units of both low-income and workforce affordable housing” for “families with incomes not exceeding 80 percent of the median income at initial occupancy." 

The properties are required to remain affordable for at least 55 years. 

Public Meetings

• Housing Commission Meeting
  Friday, September 17th at 9:00am
  1122 Broadway, 4th Floor
  Downtown San Diego
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• Housing Authority Meeting
  Tuesday, September 7th at 2pm
  202 C Street, 12th Floor
  Downtown San Diego
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