City Hall
1 Dr. Carlton B. Goodlett
Place
San Francisco, CA 94102-
4689
City and County of San Francisco
Legislation Details
File #:
Version:
2
140448
Name:
Transfer Agreement, Option to Ground Lease, and
Ground Lease in the amount of $4,558,269, $0 and
$1, respectively - 1500 Page Street LLC and Mercy
Housing California 57 - 1500 Page Street
Status:
Type:
Resolution
Passed
File created:
In control:
4/29/2014
Clerk of the Board
On agenda:
Final action:
5/23/2014
Enactment date:
5/23/2014
162-14
Enactment #:
Title:
Resolution authorizing the execution and performance of a Transfer Agreement in the amount of
$4,558,269 which expires on June 30, 2014 between the City and County of San Francisco and 1500
Page Street, LLC, a California limited liability company, for the transfer of real property and
improvements located at 1500 Page Street, San Francisco, for the development of 16 units of
affordable housing for persons with developmental disabilities and one manager’s unit; authorizing the
execution and performance of an Option to Ground Lease in the amount of $0 which expires on June
30, 2015 and a Ground Lease in the amount of $1 annual base rent for so long as HUD is senior
lender and 10% of fair market value at all times thereafter bearing a 75 year term and one 24 year
extension between the City and County of San Francisco and Mercy Housing California 57, a
California limited partnership; adopting findings under the California Environmental Quality Act; and
adopting findings that the conveyance is consistent with the General Plan, and the eight priority
policies of Planning Code, Section 101.1.
Sponsors:
London N. Breed
Attachments:
1. Leg Ver1, 2. Transfer Agmt, 3. Option to Lease Agmt, 4. Form 126 - Mercy Housing., 5. Form 126 -
Mercy Housing, 6. Form 126 - 1500 Page St LLC, 7. Mercy Board, 8. Bdgt Analyst Rpt 050714, 9.
Comm Pkt 050714, 10. Response PLN Dept 050614, 11. Board Pkt 051314, 12. Leg Final
Action By
Date
Action
Result
Ver.
RECEIVED AND ASSIGNED
President
4/29/2014
1
REFERRED TO DEPARTMENT
Clerk of the Board
5/5/2014
1
RESPONSE RECEIVED
Planning Department
5/6/2014
1
RECOMMENDED AS AMENDED
Budget and Finance Sub-
Committee
5/7/2014
2
Pass
AMENDED, AN AMENDMENT OF THE
WHOLE BEARING NEW TITLE
Budget and Finance Sub-
Committee
5/7/2014
1
Pass
ADOPTED
Board of Supervisors
5/13/2014
2
Pass
APPROVED
Mayor
5/23/2014
2