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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.
How it got here
Document trail
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PLN GPR 110723
PDF ↗SF Planning Department
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BLA Rpt 112923
PDF ↗Budget and Legislative Analyst
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How they voted
ADOPTED
Board of Supervisors · Dec 5, 2023Pass
5-0
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