File #: 220015    Version: 1 Name: Purchase of Real Property - Apply for Grant Application - VSSF Associates, LLC - 835 Turk Street - Homelessness and Supportive Housing - Homekey Grant Program - $25,701,300
Type: Resolution Status: Passed
Introduced: 1/4/2022 In control: Clerk of the Board
On agenda: Final action: 2/11/2022
Enactment date: 2/11/2022 Enactment #: 036-22
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 835 Turk Street (“Property”) for $25,650,000 plus an estimated $51,300 for typical closing costs, for a total anticipated amount of $25,701,300; 2) approving and authorizing HSH, on behalf of the City, to apply to the California Department of Housing and Community Development for its Homekey Grant Program to purchase the Property; 3) approving and authorizing an Agreement of Purchase and Sale for Real Estate for the acquisition of the Property from VSSF Associates, LLC (“Purchase Agreement”), which includes a liquidated damages clause of up to $250,000 in case of default by the City, and an interim property management fee not to exceed $5,000 per month, plus reasonable operating expenses for the Property, to be paid to VSSF Associates, LLC until the City selects an operator for the Property; 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, Dean Preston, Ahsha Safai, Matt Haney
Attachments: 1. Leg Ver1, 2. DRAFT Purchase Sale Agmt, 3. NOFA 090921, 4. PLN GPR Ltr 120821, 5. RED Ltr 123021, 6. Form 126, 7. Public Correspondence, 8. BLA Rpt 012622, 9. Cmte Pkt 012622, 10. HSH Presentation 012622, 11. Board Pkt 020122, 12. Form 126 Final, 13. Leg Final, 14. Final Executed Purchase and Sale Agmt 021722, 15. Grant Deed Recorded 0322
Legislation Details
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