ULI San Francisco is pleased to announce the publication of the Technical Assistance Panel (TAP) memo for the San Francisco Workforce Housing Bonds. TAPs are an ongoing ULI initiative, designed to offer strategic, multidisciplinary advice on complex land use and real estate challenges for municipalities, public agencies, and non-profit organizations.

On December 2 and 3, 2024, a panel of seven volunteer ULI SF experts convened to provide insights on the Workforce Housing and Affordable Middle-Income (WHAMI) legislation. The TAP aimed to assess the challenges and financial feasibility of the WHAMI legislation, which seeks to expand housing for households earning 120% of the Area Median Income (AMI) or below in San Francisco.

The TAP panel of subject matter experts represented diverse disciplines, including land use, architecture, real estate, and public policy. The panel members were:

• Kate Collignon, Managing Partner, HR&A Advisors (Co-Chair)
• Eric Tao, Partner, L37 Development (Co-Chair)
• Holly Arnold, AIA, LEED AP, Residential Practice, Northwest Leader and Architect, Gensler
• Jonathan Fearn, Sr. Vice President, Development, Signature Development Group
• Brynn McKiernan, Vice President, Development, Emerald Fund, Inc.
• Andrea Osgood, Chief of Real Estate Development, Eden Housing
• Michelle Pernicek, Partner, Kutak Rock LLP
• Mariana Ricker, Associate Principal, SWA Group (TAP Memo Writer)

The panel centered their recommendations on three questions posed by the the City and County of San Francisco’s Mayor’s Office of Housing and Community Development (SF MOHCD):

1. What are the legal issues that must be addressed in order to make the program functional around contracting, lease-up processes, property taxes, bond issuance, and program administration?
2. How much financial subsidy (e.g., tax abatements, public land, loans) is needed to make these projects feasible? What changes in market conditions would be necessary?
3. What legal entities or structures would enable local public entities to own and develop real estate, and what legislative action is needed? What are the pros and cons of these structures compared to direct City ownership and bond issuance?

Before the in-person workshop, panelists reviewed a comprehensive briefing book prepared by SF MOHCD. During the workshop, the panelists met with MOHCD staff for a presentation, conducted interviews with key stakeholders from the city and community, and participated in a brainstorming and analysis exercise. The panelists presented their findings and recommendations to those who had briefed them on the first day, and the final memo captures their insights.

The key takeaways presented in the final memo are as follows:

• Establish a financially sustainable structure for public/private owned and managed workforce housing (social housing) by expanding on the Housing Trust Fund.
• Enable public ownership and increase management capacity by empowering the Housing Authority.
• Communicate clear and predictable requirements by resolving the possessory interest question and by defining rent-setting requirements.

The memo lays out actionable steps to increase the potential for WHAMI legislation to facilitate the creation of new moderate-and middle-income housing, and can be found here. ULI SF’s TAP archive contains this memo, along with reports for all other TAPs conducted by our district council.