https://sfgov.legistar.com/Gateway.aspx?M=LD&From=RSS&ID=6862362&GUID=FA9EE1C7-255A-4496-AC46-8216AE2709C8Legistar15https://sfgov.legistar.com/Gateway.aspx?M=LD&From=RSS&ID=6862362&GUID=FA9EE1C7-255A-4496-AC46-8216AE2709C8FA9EE1C7-255A-4496-AC46-8216AE2709C8-2024-10-21-23-43-31Title: Resolution 1) approving and authorizing the Director of Property, on behalf of the San Francisco Mayor’s Office of Housing and Community Development (“MOHCD”), to acquire real property located at 3300, 3306, and 3308 Mission Street (“Property") from 3300 Mission Partners L.P. (“Borrower”) for $4,151,000 under an Agreement for Purchase and Sale (“Purchase Agreement”); 2) placing the Property under the jurisdiction of MOHCD for use in constructing affordable housing; 3) approving and authorizing the Director of Property and the Director of MOHCD to enter into a Ground Lease to lease the Property back to the Borrower for a term of 75 years and one 24-year option to extend and an annual base rent of $1 (“Ground Lease”) in order to construct a 100% affordable, 35-unit multifamily rental housing development affordable to low-income households, including one manager unit, and ground floor commercial space (the “Project”); 4) approving and authorizing an Amended and Restated Loan Agreement in an amount not to exceed (NTE) $12,440,242 for a minimum loan term of 57 years (“Loan Agreement”) to Mon, 21 Oct 2024 23:43:31 GMT