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LGBT Center Revitalization

 

Developer: LGBT Community Center of San Francisco

Type of Development: Community Center/Nonprofit Office Center

Owner: Charles Holmes LGBT Center

Cty and State: San Francisco, CA

Contact Person: Ben Golvin

Phone: 415.308.8711

Contact Email: [email protected]

Allocation Amount Requested: $20,000,000

Brief Description of Development:

The San Francisco LGBT Center, founded in 2002, provides economic development, employment, financial capacity building, and referral programs for youth and low income members of the LGBT community in its facility on a stretch of Market Street that is undergoing significant revitalization.  NMTC financing will allow the Center to reconfigure its facilities for greater efficiency, and allow the Center to offer below market office space to nonprofit organizations that are being driven out of the City by dramatically escalating rents, and to create a café to help activate Market Street and serve the community.  The investment in tenant improvements made possible by NMTC financing will stabilize the operations of the Center and ensure its long-term financial feasibility.

But-For Statement:

The City has supported the Center's operations in its current form for a number of years, but cannot commit all of the funds necessary to reconfigure the Center's operations and create space for other nonprofit organizations.  The NMTC equity is needed to catalyze this renovation.

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