City Hall
1 Dr. Carlton B. Goodlett
Place
San Francisco, CA 94102-
4689
City and County of San Francisco
Legislation Details
File #:
Version:
1
191300
Name:
Loan Agreement - Maceo May Apts, L.P. - 100%
Affordable Housing at 401 Avenue of the Palms -
Not to Exceed $24,255,000
Status:
Type:
Resolution
Passed
File created:
In control:
12/17/2019
Clerk of the Board
On agenda:
Final action:
1/24/2020
Enactment date:
1/24/2020
029-20
Enactment #:
Title:
Resolution approving and authorizing the execution of a Loan Agreement with Maceo May Apts, L.P.,
a California limited partnership, in an amount not to exceed $24,255,000 for a minimum term of 57
years, to finance the construction of a 100% affordable, 105-unit multifamily rental housing
development (plus one staff unit) for low and moderate income veteran households (“Maceo Project”)
at 401 Avenue of the Palms; and adopting findings that the Loan Agreement is consistent with the
General Plan, and the eight priority policies of Planning Code, Section 101.1.
Sponsors:
Mayor, Matt Haney
Attachments:
1. Leg Ver1, 2. DRAFT Loan Agmt, 3. DRAFT Declaration of Restrictions, 4. DRAFT Deed of Trust,
Assnmt of Rents, 5. DRAFT Option to Lease, 6. DRAFT Secured Promissory Note, 7. Housing Plan -
Exhibit E, 8. Form 126, 9. BLA Report 010820, 10. Comm Pkt 010820, 11. Board Pkt 011420, 12. Leg
Final, 13. Form 126 Final
Action By
Date
Action
Result
Ver.
RECEIVED AND ASSIGNED
President
12/17/2019
1
RECOMMENDED
Budget and Finance Committee
1/8/2020
1
Pass
ADOPTED
Board of Supervisors
1/14/2020
1
Pass
APPROVED
Mayor
1/24/2020
1