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Committee approves financing package and ground lease for Market Heights affordable housing project

San Francisco Board of Supervisors Budget and Finance Committee · December 6, 2018

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Summary

Committee forwarded a financing and ground lease package to acquire and rehabilitate Market Heights (46 units) in Bernal Heights as conduit financing with no recourse to the general fund; tenants will be temporarily relocated and eligible to return, rehabilitation expected to finish in early 2020.

The committee recommended approval of a multi‑housing revenue note (up to $18M), a long‑term amended and restated ground lease (up to 75 years with option to extend), and a jurisdictional transfer of city land to the Mayor's Office of Housing and Community Development for the Market Heights apartment…

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