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Title:
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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.
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