City Hall
1 Dr. Carlton B. Goodlett
Place
San Francisco, CA 94102-
4689
City and County of San Francisco
Legislation Details
File #:
Version:
2
170213
Name:
Purchase and Sale Agreement - SF Prosperity 2,
LLC - 1660 Mission Street and 1680 Mission Street
- $52,000,000
Status:
Type:
Resolution
Passed
File created:
In control:
2/28/2017
Clerk of the Board
On agenda:
Final action:
3/30/2017
Enactment date:
3/30/2017
094-17
Enactment #:
Title:
Resolution approving a purchase and sale agreement by and between the City and County of San
Francisco and SF Prosperity 2, LLC, for the sale of City-owned properties located at 1660 Mission
Street and 1680 Mission Street for $52,000,000; including a City lease-back at an annual rent
expense of $3,362,220 increasing by 3% per year for each year after the initial period, with rent to be
set at the then fair market rental value prior to the beginning of each extension option exercised, if
any, for a period of not more than three years in the initial term, with two one-year options to extend;
affirming the Planning Department’s determination under the California Environmental Quality Act; and
adopting findings that the sale is consistent with the General Plan, and the eight priority policies of
Planning Code, Section 101.1.
Sponsors:
Mayor
Attachments:
1. Leg Ver1, 2. Agrmt 022717, 3. Planning GP Ref 022717, 4. Form 126, 5. Bdgt Analyst Rpt 031617,
6. Comm Pkt 031617, 7. Leg Ver2, 8. PPt Presentation 031617, 9. Board Pkt 032117, 10. Post Pkt
Material - Presentation 032117, 11. Form 126 Final, 12. Leg Final
Action By
Date
Action
Result
Ver.
RECEIVED AND ASSIGNED
President
2/28/2017
1
AMENDED
Budget and Finance Sub-
Committee
3/16/2017
1
Pass
RECOMMENDED AS AMENDED AS A
COMMITTEE REPORT
Budget and Finance Sub-
Committee
3/16/2017
2
Pass
ADOPTED
Board of Supervisors
3/21/2017
2
Pass
CONTINUED
Board of Supervisors
3/21/2017
1
Fail
APPROVED
Mayor
3/30/2017
2