Share to Facebook Share to Twitter Bookmark and Share
File #: 160795    Version: Name: Agreements - Purchase and Sale for Real Estate and Ground Lease - 1036 Mission Associates, L.P - 1036 Mission Street - $5,476,250 and $15,000 Respectively
Type: Resolution Status: Passed
Introduced: 7/12/2016 In control: Clerk of the Board
On agenda: Final action: 8/11/2016
Enactment date: 8/11/2016 Enactment #: 354-16
Title: Resolution approving and authorizing the execution and performance of an Agreement of Purchase and Sale of Real Estate in connection with the acquisition of the parcel located at 1036 Mission Street (Assessor’s Parcel Block No. 3703, Lot No. 162) (“the Property”), for $5,476,250, and a long term, 85-years with a 14-year extension option, Ground Lease of the Property for $15,000 annual base rent, with 1036 Mission Associates, L.P., to construct a 100% affordable, 83-unit multifamily rental housing development for low-income households and formally homeless families and a commercial shell for a 1,061 square foot commercial space; adopting findings that the project was properly analyzed in the Mitigated Negative Declaration prepared under the California Environmental Quality Act, and that the conveyance and lease are consistent with the City’s General Plan, and the priority policies of Planning Code Section 101.1; and authorizing and directing the Director of Property and Director of Mayor's Office of Housing and Community Development to execute documents, make certain modifications, and take certain actions in furtherance of this Resolution, as defined herein.
Sponsors: Mayor, Jane Kim
Attachments: 1. Leg Ver1, 2. DRAFT Agrmt, 3. DRAFT Ground Lease, 4. Appraisal Rpt 061516, 5. Planning General Plan Referral 042116, 6. Preliminary Rpt 031716, 7. Form 126, 8. Bdgt Analyst Rpt 072716, 9. CEQA Review, 10. Comm Pkt 072716, 11. Leg Ver2, 12. Board Pkt 080216, 13. Leg Ver3, 14. Form 126 Final, 15. Leg Final
Related files: 160794
Date Ver.Action ByActionResultAction DetailsMeeting DetailsVideo
8/11/20163 Mayor APPROVED  Action details Meeting details Not available
8/2/20162 Board of Supervisors AMENDED, AN AMENDMENT OF THE WHOLE BEARING NEW TITLEPass Action details Meeting details Not available
8/2/20163 Board of Supervisors ADOPTED AS AMENDEDPass Action details Meeting details Not available
7/27/20161 Budget and Finance Sub-Committee AMENDED, AN AMENDMENT OF THE WHOLE BEARING NEW TITLEPass Action details Meeting details Video Video
7/27/20162 Budget and Finance Sub-Committee RECOMMENDED AS AMENDEDPass Action details Meeting details Not available
7/12/20161 President RECEIVED AND ASSIGNED  Action details Meeting details Not available
Legislation Details
 *NOTE: These reports are produced in HTML format and are accessible to screen readers.