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File #: 181160    Version: 1 Name: Ground Lease Amendment - Market Heights 2, LP - 211-291 Putnam Street - $15,000 Annual Base Rent
Type: Resolution Status: Mayors Office
Introduced: 11/27/2018 In control: Budget and Finance Committee
On agenda: Final action: 12/11/2018
Enactment date: Enactment #:
Title: Resolution approving and authorizing a long term amended and restated ground lease with Market Heights 2, LP, on City owned land at 211-291 Putnam Street, Assessor’s Parcel Block No. 5731, Lot 002, for a term of 75 years, to commence following approval by the Board of Supervisors, with one 24-year option to extend, and with an annual base rent of $15,000 in order to rehabilitate a 100% affordable, 45-unit multifamily rental housing development (plus one staff unit) for low-income persons; adopting findings that the amended and restated ground lease is consistent with the California Environmental Quality Act, the General Plan, and the eight priority policies of Planning Code, Section 101.1; and authorizing the Director of Property and Director of the 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 GRP 110918, 4. Project Overview, 5. Form 126, 6. BLA Report 120618, 7. Comm Pkt 120618, 8. Bd Pkt 121118
Legislation Details
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