Goal 1: Mission Housing is a recognized, successful, and excellent real estate developer with a proven track record of utilizing our properties to provide requisite resident and community services.

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Goal 2: Mission Housing is prioritized for local, regional, and national funding opportunities.

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Strategies:

● Asset Management and Resident Services teams coordinate regularly and proactively with our property management partners to manage our buildings

● Develop direct links and strong relationships with housing funders outside of San Francisco (e.g., Bay Area Housing Finance Agency, California Housing and Community Development Department, Tipping Point, private corporations like Google, etc.)

● Diversify funding sources and revenue while also promoting community benefits, including by developing a fundraising plan with a list of prospective funders and private/public partners to engage

● Hire and train additional staff in housing development, asset management, and accounting based on business needs

● Recruit a Mission Housing board member to serve as a liaison on the Caritas Board of Directors

● Hire an external financial advisor and/or an internal Chief Financial Officer

● Explore partnering with market rate developers

● Recapitalize at least one building every one to two years

● Explore partnering with pension funds as a method of creative financing

● Develop new housing typologies to convert existing underutilized properties with higher density, mixed-use developments into existing residential properties

● Support small business enterprise (SBE) and local business enterprise (LBE) contractors when possible

● Uplift and partner with smaller developers

● Identify landlord partners to provide multiple building options for relocation purposes

● Build and lease new and existing buildings on the west side of San Francisco

 

Success Indicators:

● Competitive finance terms are offered to us from the beginning of negotiations

● We win Notices of Funding Availability (NOFAs) & Requests for Qualifications (RFQs)

● We are solicited to apply to projects before and after they become publicly known

● We are “in the room” as opportunities are being created

● There is a reduction in vacancies and aging receivables

● Mission Housing has developed strong relationships with housing funders outside of San Francisco

● A plan has been developed for fundraising outreach

● Our CFO has been hired and finances and projections are strong for multiple years ahead

● We regularly chart funds and sources

● We have a robust system to gather and track data to create monthly and annual reports