The resolution approves the purchase of a property at 624 Laguna Street for $13.8 million, including closing costs. It authorizes the Director of Property to finalize the purchase agreement and confirms that the acquisition aligns with city planning policies and environmental regulations.
Resolution approving and authorizing the Director of Property to acquire certain real property located at 624 Laguna Street (“Property”); approving and authorizing an Agreement of Purchase and Sale for Real Estate for the acquisition of the Property, for the purchase price of $13,780,000 plus an estimated $20,000 for typical closing costs, for a total amount of $13,800,000 from PACIFICA SFO LLC, a California limited liability company (“Purchase Agreement”); authorizing the Director of Property to execute the Purchase Agreement, make certain modifications, and take certain actions in furtherance of this Resolution and the Purchase Agreement, as defined herein; affirming the Planning Department’s determination under the California Environmental Quality Act; and adopting the Planning Department’s findings that the Purchase Agreement, and the transaction contemplated therein, is consistent with the General Plan, and the eight priority policies of Planning Code, Section 101.1.
How it got here
The legislation originated from the Department of Public Health's initiative to expand assisted living facilities in San Francisco.
The Planning Department reviewed the acquisition of 624 Laguna Street and determined it was consistent with the General Plan and CEQA requirements.
The Department of Public Health submitted a proposal to acquire 624 Laguna Street to expand assisted living services for low-income seniors and adults.
The Real Estate Division negotiated a purchase price of $13,780,000 for the property, confirmed by a third-party appraisal.
The Budget and Finance Committee reviewed the resolution for the property acquisition but continued the item to a later date.
The Budget and Finance Committee recommended the resolution for the acquisition of 624 Laguna Street.
The Board of Supervisors adopted the resolution approving the acquisition of the property for $13,800,000.
Reconstructed from attached documents & the official record