City Hall
1 Dr. Carlton B. Goodlett
Place
San Francisco, CA 94102-
4689
City and County of San Francisco
Legislation Details
File #:
Version:
1
230925
Name:
Commercial Ground Lease and First Amendment to
Residential Ground Lease - 681 Florida Street
Commercial LLC and 681 Florida Housing
Associates, L.P. - 681 Florida Street, 683 Florida
Street, and 2070 Bryant Street - Annual Base Rent
of $1
Status:
Type:
Resolution
Passed
File created:
In control:
9/5/2023
Clerk of the Board
On agenda:
Final action:
10/4/2023
Enactment date:
10/4/2023
446-23
Enactment #:
Title:
Resolution 1) approving and authorizing the Director of Property and the Mayor’s Office of Housing
and Community Development (“MOHCD”) to enter into a Commercial Ground Lease for Real Property
owned by the City and located at 683 Florida Street and 2070 Bryant Street (together, the
“Commercial Property”) with 681 Florida Street Commercial LLC, for a lease term of 75 years and one
24-year option to extend and an annual base rent of $1 (“Commercial Ground Lease”), in order to
develop two adjoining ground floor commercial spaces for public benefit or community-serving uses
(“Commercial Project”); 2) approving and authorizing the Director of Property and the Director of
MOHCD to enter into a First Amendment to Residential Ground Lease to remove the Commercial
Property from the leased premises under the Residential Ground Lease between the City and 681
Florida Housing Associates, L.P.; 3) adopting findings that the Project and proposed transactions are
consistent with the General Plan, and the eight priority policies of Planning Code, Section 101.1; 4)
determining that the less than market rent payable under the Commercial Ground Lease will serve a
public purpose by providing commercial spaces for community-serving spaces, in accordance with
Administrative Code, Section 23.3; and 5) authorizing the Director of Property and/or the Director of
MOHCD to execute the Commercial Ground Lease and the First Amendment to Residential Ground
Lease and make certain modifications to such agreements, as defined herein, and take certain
actions in furtherance of this Resolution, as defined herein.
Sponsors:
Mayor, Hillary Ronen
Attachments:
1. Leg Ver1, 2. DRAFT Commercial Ground Lease, 3. DRAFT First Amendment, 4. PLN Ntc of
Approval 050318, 5. PC Motion No. 19658 060216, 6. Form 126 and Supplemental - Commercial
Ground Lease, 7. Form 126 and Supplemental - First Amendment Residential Ground Lease, 8. BLA
Rpt 092023, 9. Cmte Pkt 092023, 10. Board Pkt 092623, 11. Form 126 Final - 4 Contracts, 12. Leg
Final, 13. Executed Ground Lease 101023, 14. Executed Commercial Memo to Ground Lease
103123, 15. Executed Amendment No. 1 101623
Action By
Date
Action
Result
Ver.
RECEIVED AND ASSIGNED
President
9/5/2023
1
RECOMMENDED
Budget and Finance Committee
9/20/2023
1
Pass
ADOPTED
Board of Supervisors
9/26/2023
1
Pass
APPROVED
Mayor
10/4/2023
1
RECEIVED FROM DEPARTMENT
Clerk of the Board
11/7/2023
1