City Hall
1 Dr. Carlton B. Goodlett
Place
San Francisco, CA 94102-
4689
City and County of San Francisco
Legislation Details
File #:
Version:
1
240307
Name:
Multifamily Housing Revenue Notes - Transbay 2
Family, L.P. - Not to Exceed $115,845,218
Status:
Type:
Resolution
Passed
File created:
In control:
3/26/2024
Clerk of the Board
On agenda:
Final action:
5/3/2024
Enactment date:
5/3/2024
202-24
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 $115,845,218 for the purpose of providing
financing for the construction of a 184-unit multifamily rental housing project known as “Transbay
Block 2 East”; approving the form of and authorizing the execution of a funding loan agreement
providing the terms and conditions of the construction loan from the funding lender to the City, and the
execution and delivery of the notes; approving the form of and authorizing the execution of a borrower
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 a regulatory agreement and
declaration of restrictive covenants for the 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 $115,845,218;
approving modifications, changes and additions to the documents, as defined herein; ratifying and
approving any action heretofore taken in connection with the funding loan, the borrower loan, the
notes and the project, as defined herein; 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, Matt Dorsey, Rafael Mandelman
Attachments:
1. Leg Ver1, 2. DRAFT Borrower Loan Agmt, 3. DRAFT Funding Loan Agmt, 4. DRAFT Regulatory
Agmt and Dec of Restrictive Covenants, 5. CDLAC Reso No. 23-276 120623, 6. TEFRA Proof of Pub
011724, 7. TEFRA Hrg Minutes 011724, 8. Project Description, 9. Public Disclosure Report 031924,
10. Form 126, 11. OCII Presentation 041724, 12. Cmte Pkt 041724, 13. Board Pkt 042324, 14. Form
126 Final, 15. Leg Final
Action By
Date
Action
Result
Ver.
RECEIVED AND ASSIGNED
President
3/26/2024
1
RECOMMENDED
Budget and Finance Committee
4/17/2024
1
Pass
ADOPTED
Board of Supervisors
4/23/2024
1
Pass
APPROVED
Mayor
5/3/2024
1