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Resolution#231198Passed
In plain English

This resolution allows the Mayor and the Director of the Mayor’s Office of Housing and Community Development to secure a loan of up to $24 million for purchasing properties on the Great Highway and developing a 100% affordable rental building for seniors. It also approves the necessary loan documents and authorizes city officials to take actions needed to implement the project.

Resolution approving and authorizing the Mayor and the Director of the Mayor’s Office of Housing and Community Development to execute loan documents relating to a loan to provide financing for the acquisition of real property located at 1234, 1270, and 1280 Great Highway (the “Property”), and predevelopment activities for a 100% affordable multifamily rental building for seniors, in an aggregate amount not to exceed $24,000,000; approving the form of the loan agreement and ancillary documents; ratifying and approving any action heretofore taken in connection with the property; granting general authority to City officials to take actions necessary to implement this Resolution; as defined herein; and finding that the loan is consistent with the General Plan, and the priority policies of Planning Code, Section 101.1.

Introduced: Nov 14, 2023
Final action: Dec 11, 2023
Official record ↗

How it got here

How they voted

AMENDED, AN AMENDMENT OF THE WHOLE BEARING SAME TITLE
Budget and Finance Committee · Nov 29, 2023Pass
1-0 /1
RECOMMENDED AS AMENDED
Budget and Finance Committee · Nov 29, 2023Pass
1-0 /1

Legislative journey

PresidentNov 14, 2023
RECEIVED AND ASSIGNED
Budget and Finance CommitteeNov 29, 2023
RECOMMENDED AS AMENDEDPass
AMENDED, AN AMENDMENT OF THE WHOLE BEARING SAME TITLEPass
Board of SupervisorsDec 5, 2023
ADOPTEDPass
MayorDec 11, 2023
APPROVED