City Hall
1 Dr. Carlton B. Goodlett
Place
San Francisco, CA 94102-
4689
City and County of San Francisco
Legislation Details
File #:
Version:
2
230508
Name:
Loan Agreement - SFCLT TNFF Holdings LLC -
2840-2848 Folsom Street, 4042-4048 Fulton Street,
568-570 Natoma Street, and 308 Turk Street - Not
to Exceed $18,700,481
Status:
Type:
Resolution
Passed
File created:
In control:
5/2/2023
Clerk of the Board
On agenda:
Final action:
5/26/2023
Enactment date:
5/26/2023
267-23
Enactment #:
Title:
Resolution approving and authorizing the Director of the Mayor’s Office of Housing and Community
Development (“MOHCD”) to execute documents relating to a loan agreement with SFCLT TNFF
Holdings LLC in an aggregate total amount not to exceed $18,700,481 to finance the acquisition,
rehabilitation, and permanent refinancing of four existing affordable multifamily rental housing projects
for low- to moderate-income households, known as “SFCLT Scattered Sites,” consisting of a total of
36 rental units in four buildings located at 2840-2848 Folsom Street, 4042-4048 Fulton Street, 568-
570 Natoma Street, and 308 Turk Street, and to construct one accessory dwelling unit at 4042-4048
Fulton Street, pursuant to the Small Sites Program (collectively, the “Project”); affirming the Planning
Department’s determination under the California Environmental Quality Act; adopting findings that the
Project and the proposed transactions are consistent with the General Plan, and the eight priority
policies of Planning Code, Section 101.1; and authorizing the Director of MOHCD or his or her
designee to execute the loan documents for the Project and make certain modifications to such loan
documents, as defined herein, and take certain actions in furtherance of this Resolution, as defined
herein.
Sponsors:
Mayor, Rafael Mandelman, Ahsha Safai
Attachments:
1. Leg Ver1, 2. DRAFT Amended and Restated Loan Agmt, 3. DRAFT Amended and Restated Dec. of
Restrictions - 2023 SFCLT Scattered Sites, 4. DRAFT Small Sites Program Amended and Restated
Promissory Note, 5. DRAFT PASS BMR Promissory Note, 6. DRAFT PASS Deferred Loan
Promissory Note, 7. DRAFT PASS Market Rate Loan Promissory Note, 8. DRAFT Small Sites
Program Deed of Trust, 9. DRAFT PASS Program Deed of Trust, 10. DRAFT Purchase Option Agmt,
11. SSP and PASS Refinance and Rehabilitation Funds, 12. PLN GPR 041223, 13. Form 126, 14.
MOHCD Presentation 051723, 15. BLA Rpt 051723, 16. Cmte Pkt 051723, 17. Leg Ver2, 18. Board
Pkt 052323, 19. Form 126 Final, 20. Leg Final, 21. Final Amended and Restated Loan Agrmt 052523,
22. Rec Amended and Restated Dec of Restrictions 062723, 23. Fianl SSP Promissory Note 052523,
24. Final PASS BMR Promissory Note 052523, 25. Final PASS Deferred Loan Promissory Note
052523, 26. Final PASS Market Rate Loan Promissory Note 052523, 27. Rec SSP Deed of Trust
062723, 28. PASS Program Deed of Trust 062723, 29. Rec Purchase Option Agrmt 062723
Action By
Date
Action
Result
Ver.
RECEIVED AND ASSIGNED
President
5/2/2023
1
AMENDED, AN AMENDMENT OF THE
WHOLE BEARING NEW TITLE
Budget and Finance Committee
5/17/2023
1
Pass
RECOMMENDED AS AMENDED
Budget and Finance Committee
5/17/2023
2
Pass
ADOPTED
Board of Supervisors
5/23/2023
2
Pass
APPROVED
Mayor
5/26/2023
2
RECEIVED FROM DEPARTMENT
Clerk of the Board
8/7/2023
2