# Board of Supervisors Minutes: December 10, 2024 - Meeting date: 2024-12-10 - Document type: minutes - Pages in official PDF: 37 - [Canonical HTML transcript](https://sfbos.info/documents/1050/2024-12-10-minutes) - [Authoritative City PDF](https://sfgov.legistar.com/View.ashx?M=M&ID=1252679&GUID=6FB98ADD-0436-44C0-8090-D348DD0F332C) > This text was extracted for search and accessibility. The linked City PDF is the authoritative public record. ## Structured legislative records ### File 241133: Multifamily Housing Revenue Notes - Casa Adelante SVN Housing, L.P. - 1515 South Van Ness Avenue - Not to Exceed $107,642,319 - Pages: 18-19 - Vote 1: adoption, likely final - Action: ecution of a funding loan agreement providing the terms and conditions of the funding loan from the funding lender to the City, and the execution and delivery of the notes; approving the form of and authorizing the execution of a project loan agreement providing the terms and conditions of the project loan from the City to the borrower; approving the form of and authorizing the execution of a regulatory agreement and declaration of restrictive covenants for the project; authorizing the collection of certain fees; approving, for purposes of the Internal Revenue Code of 1986, as amended, the execution and delivery of residential mortgage revenue notes by the City in an aggregate principal amount not to exceed $107,642,319; approving modifications, changes, and additions to the documents; ratifying and approving any action heretofore taken in connection with the funding loan, the project loan, the notes, and the project; granting general authority to City officials to take actions necessary to implement this Resolution, as defined herein; and related matters, as defined herein. Supervisor Ronen requested to be added as a co-sponsor. Resolution No. 608-24 ADOPTED by the following vote: - Ayes: Chan, Dorsey, Engardio, Mandelman, Melgar, Peskin, Preston, Ronen, Safai, Walton ### File 241134: Amended and Restated Ground Lease and Amended and Restated Loan Agreement - Casa Adelante SVN Housing, L.P. - 1515 South Van Ness Avenue - 100% Affordable Housing - $15,000 Annual Base Rent - Loan Not to Exceed $45,233,623 - Pages: 19-20 - Vote 1: adoption, likely final - Action: ”); 2) approving and authorizing an Amended and Restated Loan Agreement in an amount not to exceed $45,233,623 for a minimum loan term of 57 years (“Loan Agreement”) with Casa Adelante SVN Housing, L.P. to finance the development and construction of the Project; 3) adopting findings declaring that the Property is “exempt surplus land” pursuant to the California Surplus Lands Act; 4) determining that the less than market rent payable under the Ground Lease will serve a public purpose by providing affordable housing for low-income households in need, in accordance with Section 23.30 of the Administrative Code; 5) adopting findings that the Project and proposed transactions are consistent with the General Plan, and the eight priority policies of Planning Code, Section 101.1; and 6) authorizing the Director of Property and/or the Director of MOHCD to execute the Amended and Restated Ground Lease and the Loan Agreement, and make certain modifications to such agreements, as defined herein, and take certain actions in furtherance of this Resolution, as defined herein. (Mayor’s Office of Housing and Community Development) (Fiscal Impact) Resolution No. 609-24 ADOPTED by the following vote: - Ayes: Chan, Dorsey, Engardio, Mandelman, Melgar, Peskin, Preston, Ronen, Safai, Walton ### File 241136: Agreement - Potrero Neighborhood Collective, LLC - Potrero Yard Infrastructure Facility Design-Build-Finance-Operate-Maintain Agreement - 2500 Mariposa Street - Endorsement of Key Terms - Pages: 20 - Vote 1: adoption, likely final - Action: icipal Transportation Agency (SFMTA) Potrero Yard Modernization Project, and the following pricing: 1) an initial milestone payment of up to $75,000,000 at financial close, 2) a relocation payment of up to $500,000 within 60 days of completing temporary relocation of Potrero Yard operations, 3) a milestone payment of up to $200,000,000 by no later than 2033, and 4) an initial maximum annual availability payment of up to $42,200,000 (in Fiscal Year 2030 dollars) over a maintenance term not to exceed 30 years after the scheduled substantial completion date, anticipated in 2029, subject to interest rate and credit spread fluctuations between commercial close and financial close and annual Consumer Price Index adjustments, with the part of the payment covering capital costs increasing 1% per year and sculpted to align with the SFMTA’s existing debt service obligations; and providing that the final terms of the agreement, including final pricing and inclusion of a Small Business Enterprise/Disadvantaged Business Enterprise Plan, shall be subject to approval of the Board of Supervisors. (Municipal Transportation Agency) (Fiscal Impact) Resolution No. 625-24 ADOPTED by the following vote: - Ayes: Chan, Dorsey, Engardio, Mandelman, Melgar, Peskin, Preston, Ronen, Safai, Walton ### File 241139: Lease Agreement - BAFC Team Operator, LLC - Training Facilities - Monthly Rent $27,750 - Pages: 20-21 - Vote 1: adoption, likely final - Action: Monthly Rent $27,750] Sponsors: Mayor; Dorsey, Mandelman, Melgar, Engardio and Safai Resolution making California Environmental Quality Act findings and confirming the San Francisco Planning Department’s determination that no additional environmental impacts that were not previously identified would occur as a result of the proposed lease; and approving and authorizing the execution of a 25-year lease agreement after approval of this Resolution with four consecutive five-year extension options, between the Treasure Island Development Authority and BAFC Team Operator, LLC for its training facilities on approximately 8.49 acres of land on Treasure Island, with a minimum monthly base rent of $1 from the commencement of the lease until the occupancy date, and $27,750 per month thereafter; and to authorize the Treasure Island Director to enter into amendments or modifications to the lease and the parking lease terms that do not materially increase the obligations or liabilities to the City and are necessary to effectuate the purposes of the lease or this Resolution. Supervisors Engardio and Safai requested to be added as co-sponsors. Resolution No. 627-24 ADOPTED by the following vote: - Ayes: Chan, Dorsey, Engardio, Mandelman, Melgar, Peskin, Preston, Ronen, Safai, Walton ## Extracted text ### [Page 19](https://sfbos.info/documents/1050/2024-12-10-minutes#page-19) Board of Supervisors Meeting Minutes 12/10/2024 241134 [Amended and Restated Ground Lease and Amended and Restated Loan Agreement - Casa Adelante SVN Housing, L.P. - 1515 South Van Ness Avenue - 100% Affordable Housing - $15,000 Annual Base Rent - Loan Not to Exceed $45,233,623] Sponsors: Mayor; Ronen and Mandelman Resolution 1) approving and authorizing the Director of Property and the Director of the Mayor’s Office of Housing and Community Development (“MOHCD”) to enter into an Amended and Restated Ground Lease for real property owned by the City, located at 1515 South Van Ness Avenue (“Property”), with Casa Adelante SVN Housing, L.P. for a lease term of 75 years and one 24-year option to extend and an annual base rent of $15,000 (“Ground Lease”), in order to construct a 168-unit (including one manager’s unit) multifamily rental housing development affordable to low-income households and including a community-serving commercial space (the “Project”); 2) approving and authorizing an Amended and Restated Loan Agreement in an amount not to exceed $45,233,623 for a minimum loan term of 57 years (“Loan Agreement”) with Casa Adelante SVN Housing, L.P. to finance the development and construction of the Project; 3) adopting findings declaring that the Property is “exempt surplus land” pursuant to the California Surplus Lands Act; 4) determining that the less than market rent payable under the Ground Lease will serve a public purpose by providing affordable housing for low-income households in need, in accordance with Section 23.30 of the Administrative Code; 5) adopting findings that the Project and proposed transactions are consistent with the General Plan, and the eight priority policies of Planning Code, Section 101.1; and 6) authorizing the Director of Property and/or the Director of MOHCD to execute the Amended and Restated Ground Lease and the Loan Agreement, and make certain modifications to such agreements, as defined herein, and take certain actions in furtherance of this Resolution, as defined herein. (Mayor’s Office of Housing and Community Development) (Fiscal Impact) Resolution No. 609-24 ADOPTED by the following vote: Ayes: 10 - Chan, Dorsey, Engardio, Mandelman, Melgar, Peskin, Preston, Ronen, Safai, Walton City and County of San Francisco Page 1048 Printed at 2:35 pm on 1/13/25 ### [Page 20](https://sfbos.info/documents/1050/2024-12-10-minutes#page-20) Board of Supervisors Meeting Minutes 12/10/2024 241136 [Agreement - Potrero Neighborhood Collective, LLC - Potrero Yard Infrastructure Facility Design-Build-Finance-Operate-Maintain Agreement - 2500 Mariposa Street - Endorsement of Key Terms] Sponsors: Mayor; Walton, Mandelman and Ronen Resolution generally endorsing the form of an Infrastructure Facility Design-Build-Finance-Operate-Maintain Agreement (Form Project Agreement) for the San Francisco Municipal Transportation Agency (SFMTA) Potrero Yard Modernization Project, and the following pricing: 1) an initial milestone payment of up to $75,000,000 at financial close, 2) a relocation payment of up to $500,000 within 60 days of completing temporary relocation of Potrero Yard operations, 3) a milestone payment of up to $200,000,000 by no later than 2033, and 4) an initial maximum annual availability payment of up to $42,200,000 (in Fiscal Year 2030 dollars) over a maintenance term not to exceed 30 years after the scheduled substantial completion date, anticipated in 2029, subject to interest rate and credit spread fluctuations between commercial close and financial close and annual Consumer Price Index adjustments, with the part of the payment covering capital costs increasing 1% per year and sculpted to align with the SFMTA’s existing debt service obligations; and providing that the final terms of the agreement, including final pricing and inclusion of a Small Business Enterprise/Disadvantaged Business Enterprise Plan, shall be subject to approval of the Board of Supervisors. (Municipal Transportation Agency) (Fiscal Impact) Resolution No. 625-24 ADOPTED by the following vote: Ayes: 10 - Chan, Dorsey, Engardio, Mandelman, Melgar, Peskin, Preston, Ronen, Safai, Walton 241139 [Lease Agreement - BAFC Team Operator, LLC - Training Facilities - Monthly Rent $27,750] Sponsors: Mayor; Dorsey, Mandelman, Melgar, Engardio and Safai Resolution making California Environmental Quality Act findings and confirming the San Francisco Planning Department’s determination that no additional environmental impacts that were not previously identified would occur as a result of the proposed lease; and approving and authorizing the execution of a 25-year lease agreement after approval of this Resolution with four consecutive five-year extension options, between the Treasure Island Development Authority and BAFC Team Operator, LLC for its training facilities on approximately 8.49 acres of land on Treasure Island, with a minimum monthly base rent of $1 from the commencement of the lease until the occupancy date, and $27,750 per month thereafter; and to authorize the Treasure Island Director to enter into amendments or modifications to the lease and the parking lease terms that do not materially increase the obligations or liabilities to the City and are necessary to effectuate the purposes of the lease or this Resolution. Supervisors Engardio and Safai requested to be added as co-sponsors. Resolution No. 627-24 ADOPTED by the following vote: Ayes: 10 - Chan, Dorsey, Engardio, Mandelman, Melgar, Peskin, Preston, Ronen, Safai, Walton City and County of San Francisco Page 1049 Printed at 2:35 pm on 1/13/25