Luis Granados

Money Moves

Leading MEDA as it works to lift its Tier 3 rating and answers an audit alleging a former employee made unauthorized purchases

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

Leads MEDA through city financial scrutiny. Says MEDA has paid off its operating line of credit and gets finance coaching from BDO. Was set to meet the controller's office Oct. 30; no outcome reported.

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