Resolution approving and authorizing the execution and performance of an Agreement of Purchase and Sale of Real Estate in connection with the acquisition of a parcel located at 210 Taylor Street (Assessor’s Parcel Block No. 0331, Lot No. 028) (“the Property”), for $10,600,000 authorizing a long term, 87 years, with a 12 year extension option Ground Lease of the Property for $15,000 annual base rent with Eddy & Taylor Associates, L.P., to construct a 100% affordable, 113-unit multifamily rental housing development for low-income households and formally homeless families and a commercial shell for a 5,677 square foot commercial space; adopting findings that the conveyance and lease are consistent with the California Environmental Quality Act, the General Plan, and the priority policies of Planning Code, Section 101.1; and authorizing and directing the Director of Property and Director of the Mayor's Office of Housing and Community Development to execute documents, make certain modifications, and take certain actions in furtherance of this Resolution.

Resolution Passed Introduced April 25, 2017

What this record is

Held by: Eddy & Taylor Associates
Amount: $10.6M
Runs until: April 25, 2029 3 years away calculated from the contract term stated in the record
Type: amendment
Field: Real estate

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