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File #: 230380    Version: 1 Name: Loan Agreement - HV Partners 3, LP - Hunters View HOPE SF Vertical Phase III - 100% Affordable Housing - Not to Exceed $50,495,000
Type: Resolution Status: Passed
Introduced: 4/4/2023 In control: Clerk of the Board
On agenda: Final action: 5/3/2023
Enactment date: 5/3/2023 Enactment #: 204-23
Title: Resolution approving and authorizing the Director of the Mayor’s Office of Housing and Community Development (“MOHCD”) to execute an Amended and Restated Loan Agreement with HV Partners 3, LP, a California limited partnership, for a total loan amount not to exceed $50,495,000 to finance the construction of a 118-unit multifamily rental housing development for low-income households, which will be known as Hunters View HOPE SF Vertical Phase III (the "Project"); adopting findings that the loan agreement is consistent with the adopted Mitigation Monitoring and Reporting Program under the California Environmental Quality Act, the General Plan, and the eight priority policies of Planning Code, Section 101.1; and authorizing the Director of MOHCD or his or her designee to enter into any amendments or modifications to the loan agreement and any other documents or instruments necessary in connection therewith that the Director determines are in the best interest of the City, do not materially increase the obligations or liabilities for the City or materially diminish the benefits of the City, and are necessary or advisable to effectuate the purposes and intent of this Resolution.
Sponsors: Mayor, Shamann Walton, Rafael Mandelman, Ahsha Safai, Dean Preston
Attachments: 1. Leg Ver1, 2. DRAFT Amended & Restated Loan Agmt, 3. HOPE SF SFHA RFQ 101607, 4. HV3A HOPE SF Vertical Loan Evaluation 031723, 5. PLN Mot. No. 17621 061208, 6. CEQA Finding HV EIR Addendum 011620, 7. PLN Comm Mot. 20663 022020, 8. EIR Draft 030108, 9. BOS Ord. No. 180-07 080307, 10. Form 126, 11. MOHCD Presentation 041923, 12. BLA Rpt 041923, 13. Cmte Pkt 041923, 14. Board Pkt 042523, 15. Form 126 Final, 16. Leg Final, 17. Executed Loan Agrmt 050223
Legislation Details
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