SF QuorumQuorum
Back to legislation
Resolution#231199Passed
In plain English

This resolution authorizes the Mayor and the Director of the Mayor’s Office of Housing and Community Development to finalize loan documents for up to $15 million to acquire property at 650 Divisadero Street and support the development of a 100% affordable rental building. It also grants city officials the authority to take necessary actions to implement the resolution and confirms that the loan aligns with the city's General Plan and planning policies.

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 650 Divisadero Street (the “Property”), and predevelopment activities for a 100% affordable multifamily rental building, in an aggregate amount not to exceed $15,000,000; approving the form of the loan agreement and ancillary documents; ratifying and approving any action heretofore taken in connection with the property, as defined herein; granting general authority to City officials to take actions necessary to implement this Resolution, as defined herein; and finding that the loan is consistent the General Plan, and the priority policies of Planning Code, Section 101.1.

Introduced: Nov 14, 2023
Final action: Dec 15, 2023
Official record ↗

How it got here

Document trail
PDF ↗
PDF ↗
PDF ↗
PDF ↗
PLN GPR 110623
SF Planning Department
PDF ↗
PDF ↗
BLA Rpt 112923
Budget and Legislative Analyst
PDF ↗
PDF ↗
PDF ↗
PDF ↗
PDF ↗
PDF ↗

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 15, 2023
APPROVED