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Title:
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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 681-687 Ellis Street (“Property”) for $19,900,000 plus an estimated $40,000 for typical closing costs, for a total anticipated amount of $19,940,000; 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 685 Ellis, 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.
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