City Hall
1 Dr. Carlton B. Goodlett
Place
San Francisco, CA 94102-
4689
City and County of San Francisco
Legislation Details
File #:
Version:
1
230509
Name:
Multifamily Housing Revenue Notes - 730 Stanyan
Associates, L.P. - Not to Exceed $90,000,000
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
268-23
Enactment #:
Title:
Resolution authorizing the execution and delivery of multifamily housing revenue notes in one or more
series in an aggregate principal amount not to exceed $90,000,000 for the purpose of providing
financing for the construction of a 160-unit multifamily rental housing project known as 730 Stanyan;
approving the form of and authorizing the execution of a funding loan agreement providing the terms
and conditions of the construction loan from the construction funding lender to the City, and the
execution and delivery of the construction notes; approving the form of and authorizing the execution
of a project loan agreement providing the terms and conditions of the construction loan from the City
to the borrower; approving the form of and authorizing the execution of an amended and restated
funding loan agreement providing the terms and conditions of the permanent loan from the permanent
funding lender to the City, and the execution and delivery of the permanent notes; approving the form
of and authorizing the execution of an amended and restated project loan agreement providing the
terms and conditions of the permanent loan from the City to the borrower; approving the form of and
authorizing the execution of a regulatory agreement and declaration of restrictive covenants for the
subject project; authorizing the collection of certain fees; approving, for purposes of the Internal
Revenue Code of 1986, as amended, the issuance and sale of residential mortgage revenue notes by
the City in an aggregate principal amount not to exceed $90,000,000; approving modifications,
changes and additions to the documents; ratifying and approving any action heretofore taken in
connection with the back-to-back loans, the notes 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, Dean Preston, Ahsha Safai
Attachments:
1. Leg Ver1, 2. DRAFT Funding Loan Agmt, 3. DRAFT Project Loan Agmt, 4. DRAFT Regulatory
Agmt, 5. DRAFT Amended and Restated Funding Loan Agmt, 6. DRAFT Amended and Restated
Project Loan Agmt, 7. CDLAC Reso No. 22-574 113022, 8. TEFRA Hrg Notice 120522, 9. Notice of
TEFRA Publication 121422, 10. Certificate of TEFRA Publication 121322, 11. TEFRA Hrg Meeting
Minutes 121322, 12. MYR Memo 050223, 13. Form 126 with Supp, 14. Cmte Pkt 051723, 15. Board
Pkt 052323, 16. Leg Final, 17. Form 126 Final with Supp, 18. Public Correspondence
Action By
Date
Action
Result
Ver.
RECEIVED AND ASSIGNED
President
5/2/2023
1
RECOMMENDED
Budget and Finance Committee
5/17/2023
1
Pass
ADOPTED
Board of Supervisors
5/23/2023
1
Pass
APPROVED
Mayor
5/26/2023
1