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Committee forwards two major housing financing items: 1296 Shotwell ground lease and $110M bond issuance for 2675 Folsom
Summary
The committee advanced a 75‑year ground lease for 1296 Shotwell to develop 94 units of senior affordable housing and approved a conduit bond issuance resolution (up to $110M) to finance a 117‑unit mixed‑income development at 2675 Folsom; both measures were recommended to the full Board with BLA context on expected rents and residuals.
The committee considered two substantial housing finance actions and forwarded both to the full Board with positive recommendations.
MOHCD staff presented a proposed long‑term ground lease between the city and 1296 Shotwell LP (Mission Economic Development Agency and Chinatown Community Development Center) for development of a 94‑unit…
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