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Board approves TEFRA resolution for 1601 Mariposa despite supervisor concerns about premature signal to community
Summary
The San Francisco Board of Supervisors voted 8–3 to adopt a TEFRA resolution allowing bond financing for a proposed 316-unit project at 1601 Mariposa Street, even as Supervisor Cohen and others warned the action could be perceived as prejudging a project that remains under CEQA review.
The San Francisco Board of Supervisors voted 8–3 on Feb. 24 to adopt a resolution declaring the city’s intent to reimburse certain expenditures and to permit the issuance of residential mortgage revenue bonds in an aggregate principal amount not to exceed $200,000,000 for the proposed housing project at 1601 Mariposa Street.
Supervisor David Campos introduced the item as part of the mayor’s office financing process; the measure would allow the project sponsor to seek bond financing through the California Debt Limit Allocation Committee (CDLAC). The financing route would, if used, trigger a requirement that 20 percent of the project’s units be affordable on-site — higher than the underlying…
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