Resolution approving an agreement with South Beach Marina, Inc., to preserve 101 affordable housing units at South Beach Marina Apartments in an amount not to exceed $59,300,000 and authorizing the Director of the Mayor’s Office of Housing and Community Development to execute the Agreement on behalf of the City and County of San Francisco to prevent the displacement of existing low- and moderate-income households residing at the South Beach Marina Apartments, and creating permanent affordability restrictions for all units to remain affordable to households earning up to 120% of Area Median Income.

What this record is

Held by

South Beach Marina, Inc

Amount

$59.3M

Runs until

Not stated in the agenda text — the term is normally in the signed agreement, attached to the original item ↗

Type

contract

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Read automatically from the title of the official record. The source document below is authoritative.

Committee

Clerk of the Board

Requested by

Mayor’s Office of Housing and Community Development

Introduced

May 3, 2016

Passed

May 27, 2016

Enacted

May 27, 2016

Enactment no.

197-16

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