City Hall
1 Dr. Carlton B. Goodlett
Place
San Francisco, CA 94102-
4689
City and County of San Francisco
Legislation Details
File #:
Version:
1
170450
Name:
Multifamily Housing Revenue Bonds - 1150-3rd
Street (also known as Mission Bay South Block 3
East) - Not to Exceed $90,000,000
Status:
Type:
Resolution
Passed
File created:
In control:
4/18/2017
Clerk of the Board
On agenda:
Final action:
5/19/2017
Enactment date:
5/19/2017
172-17
Enactment #:
Title:
Resolution declaring the intent of the City and County of San Francisco (the “City”) to reimburse
certain expenditures from proceeds of future bonded indebtedness; authorizing the Director of the
Mayor’s Office of Housing and Community Development (the “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 $90,000,000
for 1150-3rd Street (Assessor's Parcel Block No. 8711, Lot No. 026); authorizing and directing the
Director to direct 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 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, 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 $90,000,000;
authorizing and directing the execution of any documents necessary to implement this Resolution;
and ratifying and approving any action heretofore taken in connection with the Project, as defined
herein, and the Application, as defined herein.
Sponsors:
Jane Kim
Attachments:
1. Leg Ver1, 2. MOHCD Ltr 041117, 3. Project Description 0417, 4. Copy of Notice 040317 041017, 5.
Comm Pkt 042717, 6. Board Pkt 050917, 7. Leg Final
Action By
Date
Action
Result
Ver.
RECEIVED AND ASSIGNED
President
4/18/2017
1
RECOMMENDED
Budget and Finance Sub-
Committee
4/27/2017
1
Pass
ADOPTED
Board of Supervisors
5/9/2017
1
Pass
APPROVED
Mayor
5/19/2017
1