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File #: 180688    Version: Name: Ground Lease - 490 South Van Ness Avenue - 490 SVN Housing Associates, LP - $15,000 Annual Base Rent
Type: Resolution Status: Passed
Introduced: 6/26/2018 In control: Clerk of the Board
On agenda: Final action: 9/14/2018
Enactment date: 9/14/2018 Enactment #: 290-18
Title: Resolution approving and authorizing a long term Ground Lease with 490 SVN Housing Associates, LP, on City owned land at 490 South Van Ness Avenue (“Property”) for a term of 75 years, to commence following Board approval, with one 24-year extension option, and with an annual base rent of $15,000 in order to construct a 100% affordable, 80-unit multifamily rental housing development (plus one manager unit) for low-income persons (“Project”); adopting findings that the Ground Lease is consistent with the California Environmental Quality Act, the General Plan, and the priority policies of Planning Code, Section 101.1; and authorizing the Acting 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, Hillary Ronen
Attachments: 1. Leg Ver1, 2. DRAFT Ground Lease, 3. PLN General Plan Referral 063015, 4. PLN Comm Motion No. 19250 100214, 5. PLN Ltr 062718, 6. Form 126, 7. Budget Analyst Rpt 071918, 8. Comm Pkt 071918, 9. Comm Pkt 072618, 10. Leg Ver2, 11. Board Pkt 090418, 12. Leg Final
Legislation Details
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