1 Dr. Carlton B. Goodlett
San Francisco, CA 94102-
City and County of San Francisco
Loan Agreement and Ground Lease - 1064 Mission,
L.P. - 100% Affordable Housing - 1064-1068 Mission
Street - Loan Amount Not to Exceed $74,408,049 -
Annual Ground Lease Base Rent Amount of $1
Clerk of the Board
Resolution approving and authorizing the Director of the Mayor’s Office of Housing and Community
Development to execute an amended and restated Loan Agreement and a long term Ground Lease
with 1064 Mission, L.P., a California limited partnership, in a loan amount not to exceed $74,408,049
for a minimum loan term of 57 years to finance the construction of a 100% affordable, 256-unit
multifamily rental housing development (plus two staff units) for low income adults and seniors
experiencing homelessness with ancillary commercial space for public benefit and community serving
purposes for a culinary job training program (“Project”) and a lease term of 75 years with one 24-year
option to extend, and with an annual base rent of $1 in order to construct the Project once the site is
transferred to the City (“Ground Lease”); adopting findings that the Loan Agreement and Ground
Lease are consistent with the General Plan, and the eight priority policies of Planning Code, Section
101.1; and authorizing the Director of Property and the Director of the Mayor’s Office of Housing and
Community Development to execute documents, make certain modifications, and take certain actions
in furtherance of this Resolution, as defined herein.
1. Leg Ver1, 2. DRAFT Amended and Restated Loan Agmt, 3. DRAFT Deed of Trust, 4. DRAFT
Declaration of Restrictions, 5. DRAFT Promissary Note A, 6. DRAFT Promissary Note B, 7. DRAFT
Ground Lease, 8. PLN GPR 05417, 9. Executed Loan Agmt 020719, 10. Executed Lease 103118, 11.
RFQ 101017, 12. Form 126 - Loan Agmt, 13. Form 126 - Ground Lease, 14. BLA Report 111319, 15.
Comm Pkt 111319, 16. Board Pkt 111919, 17. Form 126 Loan Final, 18. Form 126 Lease Final, 19.
RECEIVED AND ASSIGNED
Budget and Finance Committee
Board of Supervisors