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Resolution#220768Passed
In plain English
This resolution allows the Mayor’s Office of Housing and Community Development to enter into an agreement with the State of California to secure a $94.8 million loan for the construction of affordable housing at Potrero Block B for low- and moderate-income families. The loan will be provided to Potrero Housing Associates II, L.P. and will last for five years.
Resolution authorizing the Mayor’s Office of Housing and Community Development on behalf of the City and County of San Francisco to execute a Standard Agreement and other related documents, as defined herein, with the State of California Department of Housing and Community Development (“HCD”) under the California Housing Accelerator Program which Standard Agreement includes an award of $94,836,486 as a loan to Potrero Housing Associates II, L.P. (“Developer”), as sole borrower, for construction of a development affordable to low- and moderate-income families at Potrero Block B, located at 1801-25th Street for a term of five years to commence upon execution of the Standard Agreement by HCD.
How it got here
Related / predecessor legislation
↑ predecessor#161161— not yet in database
↑ predecessor#161308— not yet in database
Document trail
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How they voted
ADOPTED
Board of Supervisors · Jul 19, 2022Pass
5-0
Legislative journey
PresidentJun 28, 2022
→RECEIVED AND ASSIGNED
Budget and Finance CommitteeJul 13, 2022
✓RECOMMENDEDPass
Board of SupervisorsJul 19, 2022
✓ADOPTEDPass
MayorJul 22, 2022
✓APPROVED