File #: 180686    Version: Name: Option to Ground Lease and Ground Lease - 735 Davis Senior, L.P. - 735 Davis Street - Ground Lease $15,000 Annual Base Rent
Type: Resolution Status: Passed
Introduced: 6/26/2018 In control: Clerk of the Board
On agenda: Final action: 8/2/2018
Enactment date: 8/2/2018 Enactment #: 267-18
Title: Resolution approving and authorizing the execution of an Option to Ground Lease for a term to commence following Board approval through June 30, 2019, with a 12-month option to extend, providing 735 Davis Senior, L.P. the right to ground lease the City owned parcel located at 735 Davis Street (Assessor’s Parcel Block No. 0140, Lot No. 008 ) (“Property”) with annual base rent of $15,000 for a term of 75 years with one 24-year extension option, in order to construct a 100% affordable, 53-unit multifamily rental housing development for low-income to moderate-income seniors and formally homeless seniors; adopting findings that the Ground Lease is consistent with the General Plan, and the eight priority policies of Planning Code, Section 101.1; adopting the Mitigation Measures and Improvement Measures Monitoring and Reporting Program; and authorizing and directing the Acting Director of Property and Director of Mayor’s Office of Housing and Community Development to execute any documents, make certain modifications, and take necessary actions to implement this Resolution, as defined herein.
Sponsors: Mayor
Attachments: 1. Leg Ver1, 2. Leg Ver2, 3. DRAFT Option to Ground Lease, 4. DRAFT Ground Lease, 5. PLN Mit Neg Dec 022718, 6. Cert of Appropriateness 030918, 7. HPC Motion No. 335 040418, 8. PLN GPR 061518, 9. Form 126, 10. Comm Pkt 071218, 11. Budget Analyst Rpt 071218, 12. Board Pkt 072418, 13. Leg Final
Legislation Details
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