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Resolution#260548Passed
In plain English
A formal position or approval by the Board: Approve for purposes of the Internal Revenue Code of 1986, as amended, allow the execution and delivery of a multifamily housing revenue note in one or more series in an aggregate principal amount not to exceed $18,736,700 for the purpose of providing financing for the rehabilitation of a 71-unit (plus one manager’s unit) multifamily rental housing project located at 1820 Post Street, known as “Golden Gate Apartments”. In short: a symbolic stance, not a binding law.
Resolution approving for purposes of the Internal Revenue Code of 1986, as amended, authorizing the execution and delivery of a multifamily housing revenue note in one or more series in an aggregate principal amount not to exceed $18,736,700 for the purpose of providing financing for the rehabilitation of a 71-unit (plus one manager’s unit) multifamily rental housing project located at 1820 Post Street, known as “Golden Gate Apartments”; approving the form of and authorizing the execution of a funding loan agreement, providing the terms and conditions of the loan from the funding lender to the City, and the execution and delivery of the note; approving the form of and authorizing the execution of a project loan agreement providing the terms and conditions of the loan from the City to Golden Gate Apartments, L.P. (“Borrower”); approving the form of and authorizing the execution of a regulatory agreement and declaration of restrictive covenants; authorizing the collection of certain fees; approving modifications, changes and additions to the documents, as defined herein; ratifying and approving any action heretofore taken in connection with the back-to-back loans, the note and the project, as defined herein; and granting general authority to City officials to take actions necessary to implement this Resolution and related matters, as defined herein.
How it got here
How they voted
ADOPTED
Board of Supervisors · Jun 9, 2026Pass
10-0 /1
RECOMMENDED
Budget and Finance Committee · Jun 3, 2026Pass
3-0
Legislative journey
PresidentMay 19, 2026
→RECEIVED AND ASSIGNED
Budget and Finance CommitteeJun 3, 2026
✓RECOMMENDEDPass
Board of SupervisorsJun 9, 2026
✓ADOPTEDPass
MayorJun 11, 2026
✓APPROVED