City Hall
1 Dr. Carlton B. Goodlett
Place
San Francisco, CA 94102-
4689
City and County of San Francisco
Legislation Details
File #:
Version:
1
230927
Name:
Loan Agreement - 440 Geary LLC - 440 Geary
Street - 100% Permanent Supportive Housing -
Loan Not to Exceed $47,390,000
Status:
Type:
Resolution
Passed
File created:
In control:
9/5/2023
Clerk of the Board
On agenda:
Final action:
9/28/2023
Enactment date:
9/28/2023
442-23
Enactment #:
Title:
Resolution approving and authorizing a Loan Agreement with 440 Geary LLC in an amount not to
exceed $47,390,000 for a minimum loan term of 55 years (“Loan Agreement”) to provide permanent
financing for a 122-unit single-room occupancy residential building consisting of 121 units of
permanent supportive housing to homeless households, one manager unit, and two ancillary ground
floor commercial units (the “Project”) located at 440 Geary Street, 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; authorizing the Mayor and the Director of Mayor’s Office of Housing
and Community Development (“MOHCD”) to execute the Loan Agreement, and make certain
modifications to such agreements, as defined herein, and take certain actions in furtherance of this
Resolution, as defined herein; and authorizing the Director of MOHCD to enter into any additions,
amendments, or other modifications to the Loan Agreement that do not materially increase the
obligations or liabilities to the City and are necessary to effectuate the purposes of the Loan
Agreement or this Resolution.
Sponsors:
Mayor
Attachments:
1. Leg Ver1, 2. Executed Std Agrmt 112320, 3. DRAFT Loan Agrmt, 4. DRAFT Deed of Trust, 5.
DRAFT Dec of Restrictions, 6. DRAFT Secured Promissory Note, 7. PLN Gen Plan Ref 083023, 8.
Form 126, 9. Comm Rpt request signed 091423, 10. HSH PPT 092223, 11. Comm Pkt 092223, 12.
Board Pkt 092623, 13. Leg Final, 14. Form 126 Final
Action By
Date
Action
Result
Ver.
RECEIVED AND ASSIGNED
President
9/5/2023
1
RECOMMENDED AS COMMITTEE
REPORT
Homelessness and Behavioral
Health Select Committee
9/22/2023
1
Pass
ADOPTED
Board of Supervisors
9/26/2023
1
Pass
APPROVED
Mayor
9/28/2023
1