City Hall
1 Dr. Carlton B. Goodlett
Place
San Francisco, CA 94102-
4689
City and County of San Francisco
Legislation Details
File #:
Version:
1
150299
Name:
Multifamily Housing Revenue Bonds - 1150 Scott
Street - Not to Exceed $60,000,000
Status:
Type:
Resolution
Passed
File created:
In control:
3/24/2015
Clerk of the Board
On agenda:
Final action:
4/24/2015
Enactment date:
4/24/2015
124-15
Enactment #:
Title:
Resolution declaring the intent of the City and County of San Francisco (City) to reimburse certain
expenditures from proceeds of future bonded indebtedness; authorizing the Director of the Mayor’s
Office of Housing and Community Development (Director) to submit an application and related
documents to the California Debt Limit Allocation Committee (CDLAC) to permit the issuance of
residential mortgage revenue bonds in an aggregate principal amount not to exceed $60,000,000 for
the project known as Robert B. Pitts located at 1150 Scott Street; authorizing and directing the
Controller’s Office to hold in trust an amount not to exceed $100,000 in accordance with CDLAC
procedures; authorizing the Director to certify to the CDLAC that the City has on deposit the required
amount; authorizing the Director to pay an amount equal to such deposit to the State of California if
the City fails to issue the residential mortgage revenue bonds; approving, solely for purposes of the
Internal Revenue Code of 1986, as amended, the issuance and sale of residential mortgage revenue
bonds by the City in an aggregate principal amount not to exceed $60,000,000; and authorizing and
directing the execution of any documents necessary to implement this Resolution, as defined herein.
Sponsors:
Mayor, London N. Breed
Attachments:
1. Leg Ver1, 2. Pub Hearing Notice, 3. Comm Pkt 040815, 4. Ppt Presentation 040815, 5. Board Pkt
041415, 6. Leg Final
Action By
Date
Action
Result
Ver.
RECEIVED AND ASSIGNED
President
3/24/2015
1
RECOMMENDED
Budget and Finance Sub-
Committee
4/8/2015
1
Pass
ADOPTED
Board of Supervisors
4/14/2015
1
Pass
APPROVED
Mayor
4/24/2015
1