Resolution approving the Director of Property, on behalf of the Department of Homelessness and Supportive Housing, to execute a purchase and sale agreement for the purchase of real property located at 888 Post Street, for $29,000,000 plus typical closing costs, from TC II 888 Post, LLC; and authorizing the Director of Property to execute documents, make certain modifications and take certain actions in furtherance of the Purchase Agreement, the Purchase Option, the Lease and this Resolution, as defined herein.

The Board unanimously passed a resolution urging the Real Estate Division to pursue leasing or purchasing 888 Post Street for use as a Navigation Center for homeless individuals.

The Board approved a 20-year master lease for 888 Post Street with TC II 888 Post, LLC, allowing the City to use the property as a Navigation Center.

The City sent a notice to the landlord exercising its option to purchase the property for $29 million, as stipulated in the lease agreement.

The Board enacted Ordinance No. 082-21, appropriating $29.1 million from Health and Recovery General Obligation Bonds for the purchase of 888 Post Street.

The Committee recommended the resolution to approve the purchase agreement for 888 Post Street, which was subsequently adopted by the Board.

The Board adopted the resolution approving the purchase agreement for the property, allowing the Director of Property to execute necessary documents.

The Mayor approved the resolution, finalizing the City's authority to purchase the property.