City Hall
1 Dr. Carlton B. Goodlett
Place
San Francisco, CA 94102-
4689
City and County of San Francisco
Legislation Details
File #:
Version:
1
190765
Name:
Multifamily Housing Revenue Bonds - 401 Avenue
of the Palms (Maceo May Apartments) - Not to
Exceed $50,000,000
Status:
Type:
Resolution
Passed
File created:
In control:
7/9/2019
Clerk of the Board
On agenda:
Final action:
8/9/2019
Enactment date:
8/9/2019
374-19
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 $50,000,000 for
401 Avenue of the Palms (Parcel C3.2 of the Treasure Island Master Plan) (Maceo May Apartments);
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
$50,000,000; 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:
Mayor, Matt Haney
Attachments:
1. Leg Ver1, 2. Project Description, 3. Hrg Notice 061719, 4. TEFRA Hearing Minutes 062619, 5.
Form 126, 6. Comm Pkt 072419, 7. Board Pkt 073019, 8. Form 126 Final, 9. Leg Final
Action By
Date
Action
Result
Ver.
RECEIVED AND ASSIGNED
President
7/9/2019
1
RECOMMENDED
Budget and Finance Sub-
Committee
7/24/2019
1
Pass
ADOPTED
Board of Supervisors
7/30/2019
1
Pass
APPROVED
Mayor
8/9/2019
1