City Hall
1 Dr. Carlton B. Goodlett
Place
San Francisco, CA 94102-
4689
City and County of San Francisco
Legislation Details
File #:
Version:
2
200317
Name:
Limited Payment Guaranty - Maceo May Apts, L.P. -
100% Affordable Housing at 401 Avenue of the
Palms - Silicon Valley Bank - Not to Exceed
$44,615,000 - Raymond James Tax Credit
Investment, Inc. - Not to Exceed $2,600,000
Status:
Type:
Resolution
Passed
File created:
In control:
3/24/2020
Clerk of the Board
On agenda:
Final action:
4/24/2020
Enactment date:
4/24/2020
168-20
Enactment #:
Title:
Resolution approving and authorizing the execution of a Limited Payment Guaranty for the benefit of
Silicon Valley Bank in an amount not to exceed $44,615,000 plus accrued interest and any other
costs, and a Limited Payment Guaranty for the benefit of Raymond James Tax Credit Investment,
Inc., in an amount not to exceed $2,600,000 if the construction of the 100% affordable, 105-unit
multifamily rental housing development (plus one staff unit) for low and moderate income veteran
households on Treasure Island (“Maceo May Project”) cannot be completed as a result of injunctive
relief to the stop work or other similar notice issued by a court as a result of a current lawsuit.
Sponsors:
Mayor
Attachments:
1. Leg Ver1, 2. DRAFT Limited Payment Guaranty - Silicon Valley Bank, 3. DRAFT Limited Payment
Guaranty - Raymond James Tax Credit Investment, Inc, 4. DRAFT MOHCD TIDA Letter Agreement,
5. MYR Memo 032420, 6. BLA Report 041520, 7. Comm Pkt 041520, 8. Leg Ver2, 9. Form 126 -
Silicon Valley Bank, 10. Form 126 - Raymond James Tax Credit Funds, 11. Board Pkt 042120, 12.
Leg Final, 13. Form 126 Final Silicon Valley Bank, 14. Form 126 Final Raymond James Tax Credit
Funds
Action By
Date
Action
Result
Ver.
RECEIVED AND ASSIGNED
President
3/24/2020
1
AMENDED, AN AMENDMENT OF THE
WHOLE BEARING NEW TITLE
Budget and Finance Committee
4/15/2020
1
Pass
RECOMMENDED AS AMENDED
Budget and Finance Committee
4/15/2020
2
Pass
ADOPTED
Board of Supervisors
4/21/2020
2
Pass
APPROVED
Mayor
4/24/2020
2