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Resolution#251008Passed
In plain English

This resolution allows the Mayor’s Office of Housing and Community Development to finalize a loan of up to $18,502,271 for a 68-unit affordable housing project at 1303 Larkin Street. It confirms that the project aligns with city planning policies and environmental regulations.

Resolution approving and authorizing the Director of the Mayor’s Office of Housing and Community Development (“MOHCD”) to execute documents relating to a loan with 1303 Larkin Street, L.P., a California limited partnership, for an aggregate loan amount not to exceed $18,502,271 to finance the acquisition, rehabilitation, and permanent financing of a 100% affordable, 68-unit multifamily rental housing development for low-income households located at 1303 Larkin Street (the “Project”); 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; affirming the Planning Department’s determination under the California Environmental Quality Act; authorizing the Director of MOHCD or their designee to execute the loan documents for the Project and make certain modifications to such loan documents, as defined herein, and take certain actions in furtherance of this Resolution, as defined herein.

Introduced: Oct 7, 2025
Final action: Oct 31, 2025
Sponsors: Danny Sauter
Official record ↗

How it got here

The legislation originated from a Notice of Funding Availability issued by the Mayor's Office of Housing and Community Development to support the rehabilitation of affordable housing.

1
Notice of Funding Availability IssuedFebruary 17, 2023
Mayor's Office of Housing and Community Development (MOHCD)

MOHCD issued a Notice of Funding Availability for Existing Nonprofit Owned Rental Housing Capital Repairs to solicit qualified affordable housing developers for capital improvements and repairs.

NOFA 021723
2
Loan Committee RecommendationMay 16, 2025
Citywide Affordable Housing Loan Committee

The committee recommended approval to the Mayor for a loan to finance the acquisition, rehabilitation, and permanent financing of the Project.

Leg Final
3
CEQA Exemption DeterminationFebruary 28, 2025
Planning Department

The Planning Department determined that the Project is exempt from the California Environmental Quality Act as a Class 1 exemption.

PLN CEQA Exemption Det 022825
4
Resolution Submitted to BoardOctober 7, 2025
Mayor's Office

The Mayor's Office submitted a resolution to the Board of Supervisors to approve a loan agreement with 1303 Larkin Street, L.P. for the Project.

MYR Cover Ltr 100725
5
Committee RecommendationOctober 22, 2025
Budget and Finance Committee

The Budget and Finance Committee recommended the resolution for approval to the Board of Supervisors.

Leg Final
6
Resolution AdoptedOctober 28, 2025
Board of Supervisors

The Board of Supervisors adopted the resolution approving the loan agreement for the Project.

Leg Final
7
Mayor's ApprovalOctober 31, 2025
Mayor

The Mayor approved the resolution, finalizing the loan agreement for the Project.

Leg Final

Reconstructed from attached documents & the official record

How they voted

Legislative journey

PresidentOct 7, 2025
RECEIVED AND ASSIGNED
Budget and Finance CommitteeOct 22, 2025
RECOMMENDEDPass
Board of SupervisorsOct 28, 2025
ADOPTEDPass
MayorOct 31, 2025
APPROVED