City Hall
1 Dr. Carlton B. Goodlett
Place
San Francisco, CA 94102-
4689
City and County of San Francisco
Legislation Details
File #:
Version:
1
210765
Name:
Multifamily Housing Revenue Note - Ambassador
Ritz Four Percent L.P. - 55 Mason Street and 216
Eddy Street - Not to Exceed $56,039,857
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
365-21
Enactment #:
Title:
Resolution authorizing the execution and delivery of a multifamily housing revenue note in one or
more series in an aggregate principal amount not to exceed $56,039,857 for the purpose of providing
financing for the acquisition and rehabilitation of a 187-unit multifamily rental housing project located
at 55 Mason Street and 216 Eddy Street, known as “Ambassador Ritz 4%;” approving the form of and
authorizing the execution of a funding loan agreement, providing the terms and conditions of the loan
from the funding lenders to the City, and the execution and delivery of the note; approving the form of
and authorizing the execution of a borrower loan agreement providing the terms and conditions of the
loan from the City to the borrower; approving the form of and authorizing the execution of a regulatory
agreement and declaration of restrictive covenants; authorizing the collection of certain fees;
approving modifications, changes and additions to the documents, as defined herein; ratifying and
approving any action heretofore taken in connection with the back-to-back loan, the note and the
Project; granting general authority to City officials to take actions necessary to implement this
Resolution, as defined herein; and related matters, as defined herein.
Sponsors:
Mayor
Attachments:
1. Leg Ver1, 2. DRAFT Funding Loan Agrmt, 3. DRAFT Borrower Loan Agrmt, 4. DRAFT Regulartory
Agrmt & Dec of Restrict Covenants, 5. DRAFT Assignment of Deed of Trust, 6. Public Disclosures
062421, 7. CDLAC Award Ltr 120920, 8. TEFRA Proof of Publication, 9. Ntc of Public Hearing
112420, 10. TEFRA Hearing Minutes 120720, 11. TEFRA Cert of Publication 120720, 12. Form 126,
13. Pres Action Memo 070721, 14. Comm Pkt 071421, 15. Board Pkt 072021, 16. Form 126 Final, 17.
Leg Final
Action By
Date
Action
Result
Ver.
RECEIVED AND ASSIGNED
President
6/29/2021
1
TRANSFERRED
President
7/7/2021
1
RECOMMENDED
Budget and Finance Committee
7/14/2021
1
Pass
ADOPTED
Board of Supervisors
7/20/2021
1
Pass
APPROVED
Mayor
7/30/2021
1