Description:
On February 20, 2015 Olson Lee, director of the San Francisco Mayor's Office of Housing and Community Development wrote to Michael Johnson of UrbanCore, LLC notifying the developer of their continuing default on loan payments totaling approximately $2 million. The letter concludes:"Borrower's failure to pay amounts due under the Loan results in a direct loss of CDBG funds that the City's nonprofit community relies on to serve low-income communities. The City has an obligation to protect and garner its CDBG funds for this critical work."
