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Board approves lease of Redevelopment land for Mary Helen Rogers Senior Community
Summary
The Board approved the redevelopment agency's long-term lease and subordinate loan to support construction of the Mary Helen Rogers Senior Community, a very-low-income senior housing project.
The Board of Supervisors approved Dec. 14, 2010, the redevelopment agency's disposition by lease of land commonly known as 701 Golden Gate Avenue to a limited partnership to develop the Mary Helen Rogers Senior Community, a 70-year lease for affordable senior housing targeted to very-low-income households.
Redevelopment staff explained the transaction was for agency land acquired with tax-increment funds, and per state law the Board must…
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