City Hall
1 Dr. Carlton B. Goodlett
Place
San Francisco, CA 94102-
4689
City and County of San Francisco
Legislation Details
File #:
Version:
2
210763
Name:
Loan Agreement - 2550 Irving Associates, L.P. -
100% Affordable Housing at 2550 Irving Street - Not
to Exceed $14,277,516
Status:
Type:
Resolution
Passed
File created:
In control:
6/29/2021
Clerk of the Board
On agenda:
Final action:
7/30/2021
Enactment date:
7/30/2021
363-21
Enactment #:
Title:
Resolution approving and authorizing the Director of the Mayor’s Office of Housing and Community
Development with 2550 Irving Associates, L.P. to execute loan documents relating to a loan to provide
financing for the acquisition of real property located at 2550 Irving Street, and predevelopment
activities for a 100% affordable multifamily rental building, in an aggregate amount not to exceed
$14,277,516; approving the form of the loan agreement and ancillary documents; ratifying and
approving any action heretofore taken in connection with the property; granting general authority to
City officials to take actions necessary to implement this Resolution, as defined herein; and finding
that the loan is consistent the General Plan, and the priority policies of Planning Code, Section 101.1.
Sponsors:
Mayor, Gordon Mar
Attachments:
1. Leg Ver1, 2. Leg Ver2, 3. DRAFT Loan Agrmt, 4. DRAFT Secured Acq Promissory Note, 5. DRAFT
Secured Predevelop Promissory Note, 6. DRAFT Dec of Restrictions & Affordable Housing
Covenants, 7. DRAFT Deed of Trust, 8. NOFA 122719, 9. PLN Gen Plan Ref 062121, 10. Form 126,
11. Pres Action Memo 070721, 12. BLA Report 071421, 13. Comm Pkt 071421, 14. Public
Correspondence 071621, 15. Board Pkt 072021, 16. Post Pkt Correspondence 072021, 17. Post Pkt
Correspondence 072621, 18. Form 126 Final, 19. Leg Final
Action By
Date
Action
Result
Ver.
RECEIVED AND ASSIGNED
President
6/29/2021
1
TRANSFERRED
President
7/7/2021
1
AMENDED, AN AMENDMENT OF THE
WHOLE BEARING SAME TITLE
Budget and Finance Committee
7/14/2021
1
Pass
RECOMMENDED AS AMENDED
Budget and Finance Committee
7/14/2021
2
Pass
ADOPTED
Board of Supervisors
7/20/2021
2
Pass
APPROVED
Mayor
7/30/2021
2