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Title:
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Resolution authorizing the execution and performance of a Transfer Agreement in the amount of $4,558,269 which expires on June 30, 2014 between the City and County of San Francisco and 1500 Page Street, LLC, a California limited liability company, for the transfer of real property and improvements located at 1500 Page Street, San Francisco, for the development of 16 units of affordable housing for persons with developmental disabilities and one manager’s unit; authorizing the execution and performance of an Option to Ground Lease in the amount of $0 which expires on June 30, 2015 and a Ground Lease in the amount of $1 annual base rent for so long as HUD is senior lender and 10% of fair market value at all times thereafter bearing a 75 year term and one 24 year extension between the City and County of San Francisco and Mercy Housing California 57, a California limited partnership; adopting findings under the California Environmental Quality Act; and adopting findings that the conveyance is consistent with the General Plan, and the eight priority policies of Planning Code, Section 101.1.
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