File #: 230928    Version: 1 Name: Purchase of Real Property - Costanoan LLC - 42 Otis Street - Homelessness and Supportive Housing - Not to Exceed $14,240,000
Type: Resolution Status: Passed
Introduced: 9/5/2023 In control: Clerk of the Board
On agenda: Final action: 9/28/2023
Enactment date: 9/28/2023 Enactment #: 443-23
Title: Resolution 1) approving and authorizing the Director of Property, on behalf of the Department of Homelessness and Supportive Housing, to acquire certain property located at 42 Otis Street (“Property”) for $14,200,000 plus an estimated $40,000 for typical closing costs, for a total anticipated amount of $14,240,000; 2) approving and authorizing an Agreement of Purchase and Sale for Real Estate for the acquisition of the Property from Costanoan LLC (“Purchase Agreement”), which includes a liquidated damages clause of up to $420,000 in case of default by the City; 3) 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; effective upon approval of this Resolution; 4) affirming the Planning Department’s determination under the California Environmental Quality Act; and 5) 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, Hillary Ronen, Shamann Walton, Rafael Mandelman
Attachments: 1. Leg Ver1, 2. DRAFT Purchase and Sale Agmt, 3. NOFA Round 3 032923, 4. PLN Gen Pln Ref 072023, 5. RED Ltr 082923, 6. Form 126, 7. Comm Rpt request signed 091423, 8. HSH PPT 092223, 9. Comm Pkt 092223, 10. Board Pkt 092623, 11. Leg Final, 12. Form 126 Final, 13. Purchase and Sale Agreement 100123, 14. Grant Deed 052924
Legislation Details
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