City Hall
1 Dr. Carlton B. Goodlett
Place
San Francisco, CA 94102-
4689
City and County of San Francisco
Legislation Details
File #:
Version:
1
220344
Name:
Purchase of Real Property - City Gardens Bridge,
LLC - 333-12th Street - Apply for Grant - California
Department of Housing and Community
Development - Homekey Grant Program -
$147,540,000
Status:
Type:
Resolution
Passed
File created:
In control:
4/5/2022
Clerk of the Board
On agenda:
Final action:
4/28/2022
Enactment date:
4/28/2022
147-22
Enactment #:
Title:
Resolution 1) approving and authorizing the Director of Property, on behalf of the Department of
Homelessness and Supportive Housing (“HSH”), to acquire certain property located at 333-12th
Street (“Property”) for $145,000,000 plus up to $2,250,000 in interest, payable in two installments,
plus an estimated $290,000 for typical closing costs, for a total anticipated amount not to exceed
$147,540,000; 2) approving and authorizing HSH, on behalf of the City, to apply to the California
Department of Housing and Community Development for a Homekey Grant; 3) approving and
authorizing an Agreement of Purchase and Sale for Real Estate for the acquisition of the Property
from City Gardens Bridge, LLC (“Purchase Agreement”), which includes a liquidated damages clause
of up to $5,000,000 as well as certain other remedies, in case of default by the City; 4) authorizing the
Director of Property to execute the Purchase Agreement, make certain modifications, and take certain
actions in furtherance of this Resolution and the Purchase Agreement, as defined herein; 5) affirming
the Planning Department’s determination under the California Environmental Quality Act; and 6)
adopting the Planning Department’s findings that the Purchase Agreement, and the transaction
contemplated therein, is consistent with the General Plan, and the eight priority policies of Planning
Code, Section 101.1.
Sponsors:
Mayor, Matt Haney, Hillary Ronen, Ahsha Safai, Gordon Mar
Attachments:
1. Leg Ver1, 2. DRAFT Purchase and Sale Agmt, 3. PLN General Pln Ref 032822, 4. Homekey Grant
Program NOFA, 5. RED Ltr 032522, 6. Form 126, 7. BLA Rpt 042022, 8. Cmte Rpt 042022, 9. HSH
Presentation 042022, 10. Board Pkt 042622, 11. Public Correspondence, 12. Form 126 Final, 13. Leg
Final, 14. Final Executed Grant Deed 080922, 15. Final Executed Purchase and Sale Agmt 051322
Action By
Date
Action
Result
Ver.
RECEIVED AND ASSIGNED
President
4/5/2022
1
RECOMMENDED
Budget and Finance Committee
4/20/2022
1
Pass
ADOPTED
Board of Supervisors
4/26/2022
1
Pass
APPROVED
Mayor
4/28/2022
1
RECEIVED FROM DEPARTMENT
Clerk of the Board
10/19/2022
1