City Hall
1 Dr. Carlton B. Goodlett
Place
San Francisco, CA 94102-
4689
City and County of San Francisco
Legislation Details
File #:
Version:
2
231198
Name:
Loan Agreement - 1234 Great Highway LLC - 1234
Great Highway - 100% Affordable Housing - Not to
Exceed $24,000,000
Status:
Type:
Resolution
Passed
File created:
In control:
11/14/2023
Clerk of the Board
On agenda:
Final action:
12/11/2023
Enactment date:
12/11/2023
551-23
Enactment #:
Title:
Resolution approving and authorizing the Mayor and the Director of the Mayor’s Office of Housing and
Community Development to execute loan documents relating to a loan to provide financing for the
acquisition of real property located at 1234, 1270, and 1280 Great Highway (the “Property”), and
predevelopment activities for a 100% affordable multifamily rental building for seniors, in an aggregate
amount not to exceed $24,000,000; approving the form of the loan agreement and ancillary
documents; ratifying and approving any action heretofore taken in connection with the property;
granting general authority to City officials to take actions necessary to implement this Resolution; as
defined herein; and finding that the loan is consistent with the General Plan, and the priority policies of
Planning Code, Section 101.1.
Sponsors:
Mayor, Joel Engardio
Attachments:
1. Leg Ver1, 2. DRAFT Loan Agreement, 3. DRAFT Declaration of Restrictions, 4. DRAFT Promissory
Note - Acquisition, 5. DRAFT Promissory Note - Predevelopment, 6. DRAFT Deed of Trust -
Assignment of Rents, 7. NOFA 012723, 8. PLN GPR 110723, 9. Form 126, 10. MOHCD Presentation
112923, 11. BLA Rpt 112923, 12. Cmte Pkt 112923, 13. Pub Correspondence, 14. Leg Ver2, 15.
Board Pkt 120523, 16. Leg Final, 17. Form 126 Final
Action By
Date
Action
Result
Ver.
RECEIVED AND ASSIGNED
President
11/14/2023
1
AMENDED, AN AMENDMENT OF THE
WHOLE BEARING SAME TITLE
Budget and Finance Committee
11/29/2023
1
Pass
RECOMMENDED AS AMENDED
Budget and Finance Committee
11/29/2023
2
Pass
ADOPTED
Board of Supervisors
12/5/2023
2
Pass
APPROVED
Mayor
12/11/2023
2