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File #: 210187    Version: 1 Name: Ground Lease - MHDC Mariposa Gardens Associates LP - 2445 Mariposa Street - $20,000 Annual Base Rent
Type: Resolution Status: Passed
Introduced: 2/23/2021 In control: Clerk of the Board
On agenda: Final action: 3/26/2021
Enactment date: 3/26/2021 Enactment #: 124-21
Title: Resolution approving and authorizing a long term amended and restated ground lease with MHDC Mariposa Gardens Associates LP, on City owned land at 2445 Mariposa Street, Assessor’s Parcel Block No. 4014, Lot No. 001, for a term of 38 years, to commence following approval by the Board of Supervisors, with one 44-year option to extend, and with an annual base rent of $20,000 in order to rehabilitate a 100% affordable, 62-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
Attachments: 1. Leg Ver1, 2. DRAFT Amended & Restated Ground Lease, 3. PLN GPR 010621, 4. Ground Lease 022304, 5. Form 126, 6. BLA Report 031021, 7. Comm Pkt 031021, 8. Board Pkt 031621, 9. Form 126 Final, 10. Leg Final
Legislation Details
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