City Hall
1 Dr. Carlton B. Goodlett
Place
San Francisco, CA 94102-
4689
City and County of San Francisco
Legislation Details
File #:
Version:
1
161050
Name:
Multifamily Housing Revenue Notes and Variable
Rate Multifamily Housing Revenue Bonds -
Transbay Block 8 - Not to Exceed $302,390,833
Status:
Type:
Resolution
Passed
File created:
In control:
9/27/2016
Clerk of the Board
On agenda:
Final action:
11/4/2016
Enactment date:
11/4/2016
456-16
Enactment #:
Title:
Resolution authorizing the issuance and delivery of a multifamily housing revenue note in an
aggregate principal amount not to exceed $19,290,833 for the purpose of providing financing for the
acquisition and construction of an 80-unit multifamily rental housing project located in the City at 250
Fremont Street (also known as Transbay Block 8 Affordable Apartments); authorizing the issuance
and delivery of variable rate multifamily housing revenue bonds in an aggregate principal amount not
to exceed $263,100,000 and a multifamily housing revenue note in an aggregate principal amount not
to exceed $20,000,000 for the purpose of providing financing for the acquisition and construction of a
350-unit multifamily rental housing project located in the City at 450 Folsom Street (also known as
Transbay Block 8 Tower Apartments); approving, for purposes of Section 147(f) of the Internal
Revenue Code of 1986, as amended, the issuance of the tax-exempt portion of said bonds and said
notes in an aggregate principal amount not to exceed $282,359,227; approving the form of and
authorizing the execution of funding loan agreements providing the terms and conditions of the
multifamily housing revenue notes and authorizing the execution and delivery thereof; approving the
form of and authorizing the execution of one or more regulatory agreements and declarations of
restrictive covenants; approving the forms of and authorizing the execution of certain loan documents;
approving the forms of and authorizing the execution of an indenture of trust providing the terms and
conditions of the variable rate multifamily housing revenue bonds and authorizing the execution and
delivery thereof; approving the form of and authorizing the execution of a bond purchase agreement
for such bonds; approving the form of and authorizing an official statement for such bonds and
authorizing the distribution thereof; authorizing the collection of certain fees; ratifying and approving
any action heretofore taken in connection with the bonds, the notes and the projects; granting general
authority to City officials to take actions necessary to implement this Resolution, subject to the terms
of this Resolution; and related matters, as defined herein.
Sponsors:
Jane Kim
Attachments:
1. Leg Ver1, 2. MOHCD Ltr. 092316, 3. CDLAC Bond Allocation Reso TB 8 80/20 121615, 4. CDLAC
Bond Allocation Reso TB 8 Affordable Apartments 121615, 5. DRAFT Indenture of Trust (Series H), 6.
DRAFT Loan Agrmt (Series H), 7. DRAFT Official Statement (Series H) 091416, 8. DRAFT Bond
Purchase Agrmt (Series H), 9. DRAFT Regulatory Agrmt (Series H, I) 091416, 10. DRAFT Funding
Loan Agrmt (Series I), 11. DRAFT Borrower Loan Agrmt (Series I), 12. DRAFT Assignment of Loan
Docs (Series I), 13. DRAFT Funding Loan Agrmt (Series J), 14. DRAFT Borrower Loan Agrmt (Series
J), 15. DRAFT Multifamily Leasehold DoT Loan Docs (Series J), 16. DRAFT Regulatory Agrmt - DRC
091416, 17. Form 126, 18. Form 126, 19. Form 126, 20. Comm Pkt 102616, 21. Board Pkt 110116,
22. Leg Final
Action By
Date
Action
Result
Ver.
RECEIVED AND ASSIGNED
President
9/27/2016
1
RECOMMENDED
Budget and Finance Committee
10/26/2016
1
Pass
ADOPTED
Board of Supervisors
11/1/2016
1
Pass
APPROVED
Mayor
11/4/2016
1