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File #: 210941    Version: 1 Name: Purchase of Real Property - Jamna Investments, LLC - 5630-5638 Mission Street - Homelessness and Supportive Housing - $17,340,000
Type: Resolution Status: Pending Committee Action
Introduced: 9/7/2021 In control: Budget and Finance Committee
On agenda: Final action:
Enactment date: Enactment #:
Title: Resolution 1) approving and authorizing the Director of Property, on behalf of the Department of Homelessness and Supportive Housing (“HSH”), to acquire certain property located at 5630-5638 Mission Street (“Property”); 2) approving and authorizing HSH, on behalf of the City, to apply to the California Department of Housing and Community Development (“HCD”) for its 2021 Homekey Grant Program (“Project Homekey”) to purchase the Property; 3) approving and authorizing an Agreement of Purchase and Sale for Real Estate for the acquisition of the Property, for $17,000,000 plus an estimated $340,000 for typical closing costs for a total amount of $17,340,000 from Jamna Investments, LLC (“Purchase Agreement”); 4) authorizing the Director of Property to execute the Purchase Agreement, make certain modifications, and take certain actions in furtherance of this Resolution and the Purchase Agreement, as defined herein; 5) affirming the Planning Department’s determination under the California Environmental Quality Act; and 6) adopting the Planning Department’s findings that the Purchase Agreement, and the transaction contemplated therein, is consistent with the General Plan, and the eight priority policies of Planning Code, Section 101.1.
Sponsors: Mayor, Ahsha Safai
Attachments: 1. Leg Ver1, 2. Executed Purchase and Sale Agrmt, 3. PLN Gen Pln Ref 090121, 4. RED Ltr 090321, 5. Form 126
Legislation Details
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