Mission Economic Development Agency (MEDA)

Money Moves

On the Controller's Office's Tier 3 risk list; a $22.2 million city loan advanced to the full Board on Oct. 28

San Francisco's Controller's Office has given the Mission Economic Development Agency its most serious risk rating for city contractors, citing alleged self-dealing and unauthorized purchases among ten findings. The Tier 3 rating can cost MEDA city funding if the problems are not fixed, though the Controller says it can be lowered after corrective steps.

Updated 7 days ago

Money Moves

Under Tier 3 city oversight. The committee advanced the $22.2 million loan purchase Oct. 28; the full board vote is pending.

San Francisco's Budget and Finance Committee voted 3-0 on Oct. 28 to advance a $22.2 million loan deal for the Mission Economic Development Agency (MEDA). The city would buy an existing $20.3 million loan and become the lender on a Mission Street building with 35 apartments and four storefronts. The committee acted nine days after the controller placed the nonprofit on its highest-risk watch list.

Updated Nov 1