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Commission authorizes ENA and $2.5M predevelopment loan for 135 affordable units at Mission Bay
Summary
The Commission approved an exclusive negotiations agreement and a $2,500,000 predevelopment loan for 1300 Fourth Street Associates LP to develop 135 affordable family rental units in Mission Bay South (Block 6 East). The Tenderloin Neighborhood Development Corporation (TNDC) team was selected; staff outlined AMI targets, parking, and a schedule for schematic design and financing.
The Commission on Community Investment and Infrastructure on Dec. 2 authorized an exclusive negotiations agreement and a $2.5 million predevelopment loan for the development of 135 affordable family rental units at 1300 Fourth Street (Mission Bay South Block 6 East).
Pam Sims, development specialist at OCII, said the selection panel unanimously recommended the Tenderloin Neighborhood Development Corporation (TNDC) team. The project program in the RFP calls for 135 units with an 80% targeting at 50% of area median…
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