City Hall
1 Dr. Carlton B. Goodlett
Place
San Francisco, CA 94102-
4689
City and County of San Francisco
Legislation Details
File #:
Version:
2
250286
Name:
Multifamily Housing Revenue Note - Sunnydale
Block 7 Housing Partners, L.P. - Sunnydale HOPE
SF Block 7 - 65 Santos Street - Not to Exceed
$53,305,000
Status:
Type:
Resolution
Passed
File created:
In control:
3/25/2025
Clerk of the Board
On agenda:
Final action:
4/25/2025
Enactment date:
4/25/2025
162-25
Enactment #:
Title:
Resolution approving for purposes of the Internal Revenue Codes of 1986, as amended, authorizing
the execution and delivery of a multifamily housing revenue note in one or more series in an
aggregate principal amount not to exceed $53,305,000 for the purpose of providing financing for the
construction of a 89-unit (including one manager unit) multifamily rental housing project located at 65
Santos Street, known as “Sunnydale HOPE SF Block 7”; approving the form of and authorizing the
execution of a funding loan agreement, providing the terms and conditions of the loan from the
funding lender to the City, and the execution and delivery of the note; approving the form of and
authorizing the execution of a borrower loan agreement providing the terms and conditions of the loan
from the City to Sunnydale Block 7 Housing Partners, L.P. (the “Borrower”); approving the form of and
authorizing the execution of an amended and restated funding loan agreement which amends and
restates the funding loan agreement on and after conversion; approving the form of and authorizing
the execution of an amended and restated borrower loan agreement which amends and restates the
borrower loan agreement on and after conversion; approving the form of and authorizing the
execution of a regulatory agreement and declaration of restrictive covenants; authorizing the
collection of certain fees; approving modifications, changes and additions to the documents; ratifying
and approving any action heretofore taken in connection with the back-to-back loans, the note and the
project; granting general authority to City officials to take actions necessary to implement this
Resolution; and related matters, as defined herein.
Sponsors:
Mayor, Shamann Walton, Rafael Mandelman
Attachments:
1. Leg Ver1, 2. DRAFT Funding Loan Agmt, 3. DRAFT Borrower Loan Agmt, 4. DRAFT Assignment
Deed of Trust, 5. DRAFT AR Funding Loan Agrmt, 6. DRAFT AR Borrower Loan Agrmt, 7. DRAFT
Regulatory Agmt, 8. Good Faith Estimate, 9. CDLAC Resolution 24-263 121124, 10. TEFRA Notice
Proof of Pub 011525, 11. TEFRA Hearing Minutes 011525, 12. MYR Cover Ltr 032525, 13. Form 126,
14. MOHCD Presentation 040925, 15. Cmte Pkt 040925, 16. Leg Ver2, 17. Board Pkt 041525, 18.
Form 126 Final, 19. Leg Final
Action By
Date
Action
Result
Ver.
RECEIVED AND ASSIGNED
President
3/25/2025
1
AMENDED, AN AMENDMENT OF THE
WHOLE BEARING SAME TITLE
Budget and Finance Committee
4/9/2025
1
Pass
RECOMMENDED AS AMENDED
Budget and Finance Committee
4/9/2025
2
Pass
ADOPTED
Board of Supervisors
4/15/2025
1
Pass
APPROVED
Mayor
4/25/2025
2