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Resolution#241134Passed
In plain English

This resolution approves a 75-year lease for city-owned property at 1515 South Van Ness Avenue to Casa Adelante SVN Housing, L.P. for the construction of a 168-unit affordable housing development, along with a loan of up to $45.2 million to finance the project. It also declares the property as "exempt surplus land" and confirms that the lease terms will benefit low-income households.

Resolution 1) approving and authorizing the Director of Property and the Director of the Mayor’s Office of Housing and Community Development (“MOHCD”) to enter into an Amended and Restated Ground Lease for real property owned by the City, located at 1515 South Van Ness Avenue (“Property”), with Casa Adelante SVN Housing, L.P. for a lease term of 75 years and one 24-year option to extend and an annual base rent of $15,000 (“Ground Lease”), in order to construct a 168-unit (including one manager’s unit) multifamily rental housing development affordable to low-income households and including a community-serving commercial space (the “Project”); 2) approving and authorizing an Amended and Restated Loan Agreement in an amount not to exceed $45,233,623 for a minimum loan term of 57 years (“Loan Agreement”) with Casa Adelante SVN Housing, L.P. to finance the development and construction of the Project; 3) adopting findings declaring that the Property is “exempt surplus land” pursuant to the California Surplus Lands Act; 4) determining that the less than market rent payable under the Ground Lease will serve a public purpose by providing affordable housing for low-income households in need, in accordance with Section 23.30 of the Administrative Code; 5) adopting findings that the Project and proposed transactions are consistent with the General Plan, and the eight priority policies of Planning Code, Section 101.1; and 6) authorizing the Director of Property and/or the Director of MOHCD to execute the Amended and Restated Ground Lease and the Loan Agreement, and make certain modifications to such agreements, as defined herein, and take certain actions in furtherance of this Resolution, as defined herein.

Introduced: Nov 19, 2024
Final action: Dec 12, 2024
Official record ↗

How it got here

The legislation originated from the need to develop affordable housing at 1515 South Van Ness Avenue, prompted by the City’s acquisition of the property and subsequent planning efforts.

1
Acquisition of PropertyJune 2019
City of San Francisco

The City acquired the property at 1515 South Van Ness Avenue for $19 million to develop affordable housing.

MOHCD Presentation 120424
2
Request for Qualifications IssuedNovember 30, 2020
Mayor's Office of Housing and Community Development (MOHCD)

MOHCD issued a RFQ to solicit qualified developers for the affordable housing project on the property.

NOFA Multisite RFQ
3
Planning ApprovalApril 2023
Planning Department

The Planning Department approved the project under California AB 2162, allowing for ministerial approval of the housing development.

PLN Ntc Fnl Approval AB 2162 041924
4
General Plan ReferralApril 19, 2024
Planning Department

The Planning Department determined that the project is consistent with the General Plan and the eight priority policies of the Planning Code.

PLN Gen Plan Ref. 051624
5
Loan RecommendationNovember 1, 2024
Citywide Affordable Housing Loan Committee

The committee recommended approval of a loan to Casa Adelante SVN Housing, L.P. for the project, amounting to $45,233,623.

Leg Final
6
Resolution ApprovalDecember 10, 2024
Board of Supervisors

The Board adopted the resolution approving the Amended and Restated Ground Lease and Loan Agreement for the project.

Leg Final
7
Final ApprovalDecember 12, 2024
Mayor of San Francisco

The Mayor approved the resolution, allowing the project to move forward.

Leg Final

Reconstructed from attached documents & the official record

Related / predecessor legislation
↑ predecessor#190733— not yet in database
↑ predecessor#230813— not yet in database
↑ predecessor#240704— not yet in database

How they voted

RECOMMENDED
Budget and Finance Committee · Dec 4, 2024Pass
3-0

Legislative journey

PresidentNov 19, 2024
RECEIVED AND ASSIGNED
Budget and Finance CommitteeDec 4, 2024
RECOMMENDEDPass
Board of SupervisorsDec 10, 2024
ADOPTEDPass
MayorDec 12, 2024
APPROVED