# Board of Supervisors Minutes: September 9, 2025 - Meeting date: 2025-09-09 - Document type: minutes - Pages in official PDF: 24 - [Canonical HTML transcript](https://sfbos.info/documents/1108/2025-09-09-minutes) - [Authoritative City PDF](https://sfgov.legistar.com/View.ashx?M=M&ID=1336424&GUID=7D3E7A1B-37E4-4344-B337-52C35EBC09A4) > This text was extracted for search and accessibility. The linked City PDF is the authoritative public record. ## Structured legislative records ### File 250828: Multifamily Housing Revenue Note - Balboa Lee Avenue, L.P. - Balboa Reservoir - Building E - Expected to be 505 Mayor Edwin M. Lee Avenue (Formerly Known as 11 Frida Kahlo Way) - Not to Exceed $84,116,000 - Pages: 8-9 - Vote 1: adoption, likely final - Action: ly rental housing project expected to be located at 505 Mayor Edwin M. Lee Avenue (formerly known as 11 Frida Kahlo Way) (Assessor’s Parcel Block No: 3180-202), known as “Balboa Reservoir - Building E”; approving the form of and authorizing the execution of a funding loan agreement, providing the terms and conditions of the loan from the funding lender to the City, and the execution and delivery of the note; approving the form of and authorizing the execution of a project loan agreement providing the terms and conditions of the loan from the City to Balboa Lee Avenue, L.P. (the “Borrower”); approving the form of and authorizing the execution of a regulatory agreement and declaration of restrictive covenants; authorizing the collection of certain fees; approving modifications, changes and additions to the documents; ratifying and approving any action heretofore taken in connection with the back-to-back loans, the note and the project; granting general authority to City officials to take actions necessary to implement this Resolution and related matters, as defined herein. Supervisor Mandelman requested to be added as a co-sponsor. Resolution No. 413-25 ADOPTED by the following vote: - Ayes: Chan, Chen, Dorsey, Engardio, Fielder, Mahmood, Mandelman, Melgar, Sauter, Sherrill, Walton ### File 250829: Loan Agreement - BHC Balboa Builders, LLC - Balboa Reservoir - Infrastructure Improvements - Not to Exceed $56,425,904 - Pages: 9-10 - Vote 1: amendment - Action: do not materially increase the obligations or liabilities to the City and are necessary to effectuate the purposes of the Agreement or this Resolution. (Mayor’s Office of Housing and Community Development) (Fiscal Impact) Supervisor Mandelman requested to be added as a co-sponsor. Supervisor Chan, seconded by Supervisor Melgar, moved that this Resolution be AMENDED, AN AMENDMENT OF THE WHOLE BEARING SAME TITLE, on Page 4, Lines 1-6, by adding written reports to be submitted from the Mayor’s Office of Housing and Community Development to the Board of Supervisors to read as ‘ WHEREAS, MOHCD has agreed to provide the following written reports to the Board of Supervisors for inclusion in File No. 250829: (1) within 90 days of the completion of Building E, MOHCD will transmit a report concerning the status of the Balboa Reservoir Project including the project timeline, the City funding for the horizontal and vertical development of the remaining parcels, and the total disbursement of the proposed infrastructure loan, and (2) a report on any action to forgive all or part of the proposed infrastructure loan, if applicable; now, therefore, be it’. The motion carried by the following vote: - Ayes: Chan, Chen, Dorsey, Engardio, Fielder, Mahmood, Mandelman, Melgar, Sauter, Sherrill, Walton - Vote 2: adoption, likely final - Action: (Fiscal Impact) Resolution No. 414-25 ADOPTED AS AMENDED by the following vote: - Ayes: Chan, Chen, Dorsey, Engardio, Fielder, Mahmood, Mandelman, Melgar, Sauter, Sherrill, Walton ### File 250830: Lease and Amended and Restated Loan Agreement - Balboa Lee Avenue, L.P. - Balboa Reservoir Building E - 100% Affordable Housing - $15,000 Annual Base Rent - Not to Exceed $28,000,000 - Pages: 10 - Vote 1: adoption, likely final - Action: (“MOHCD”) to enter into a Ground Lease for Real Property owned by the City and located at 11 Frida Kahlo Way (“Property”) with Balboa Lee Avenue, L.P. (“Developer”) 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 100% affordable, 127-unit multifamily rental housing development affordable to very-low and low-income households, plus one manager’s unit; approving and authorizing an Amended and Restated Loan Agreement in an amount not to exceed $28,000,000 for a minimum loan term of 57 years (“Loan Agreement”) to finance the development and construction of the Project; 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 authorizing the Director of Property and/or the Director of MOHCD to execute the Ground Lease, Loan Agreement, and make certain modifications to such agreements, and take certain actions in furtherance of this Resolution, as defined herein. (Fiscal Impact) Supervisor Mandelman requested to be added as a co-sponsor. Resolution No. 415-25 ADOPTED by the following vote: - Ayes: Chan, Chen, Dorsey, Engardio, Fielder, Mahmood, Mandelman, Melgar, Sauter, Sherrill, Walton ## Extracted text ### [Page 9](https://sfbos.info/documents/1108/2025-09-09-minutes#page-9) Board of Supervisors Meeting Minutes 9/9/2025 250829 [Loan Agreement - BHC Balboa Builders, LLC - Balboa Reservoir - Infrastructure Improvements - Not to Exceed $56,425,904] Sponsors: Mayor; Melgar and Mandelman Resolution approving and authorizing the Director of the Mayor’s Office of Housing and Community Development to execute an Amended and Restated Loan Agreement with BHC Balboa Builders, LLC, a California limited liability company, for a total loan amount not to exceed $56,425,904 to finance the first phase of infrastructure improvements related to the revitalization and master development of an approximately 17.6-acre site with various public benefits including affordable housing, commonly known as the Balboa Reservoir Project; adopting findings that the loan agreement is consistent with the adopted Mitigation Monitoring and Reporting Program under the California Environmental Quality Act, the General Plan, and the priority policies of Planning Code, Section 101.1; and to authorize the Director of MOHCD or his designee to enter into amendments or modifications to the Agreement that do not materially increase the obligations or liabilities to the City and are necessary to effectuate the purposes of the Agreement or this Resolution. (Mayor’s Office of Housing and Community Development) (Fiscal Impact) Supervisor Mandelman requested to be added as a co-sponsor. Supervisor Chan, seconded by Supervisor Melgar, moved that this Resolution be AMENDED, AN AMENDMENT OF THE WHOLE BEARING SAME TITLE, on Page 4, Lines 1-6, by adding written reports to be submitted from the Mayor’s Office of Housing and Community Development to the Board of Supervisors to read as ‘ WHEREAS, MOHCD has agreed to provide the following written reports to the Board of Supervisors for inclusion in File No. 250829: (1) within 90 days of the completion of Building E, MOHCD will transmit a report concerning the status of the Balboa Reservoir Project including the project timeline, the City funding for the horizontal and vertical development of the remaining parcels, and the total disbursement of the proposed infrastructure loan, and (2) a report on any action to forgive all or part of the proposed infrastructure loan, if applicable; now, therefore, be it’. The motion carried by the following vote: Ayes: 11 - Chan, Chen, Dorsey, Engardio, Fielder, Mahmood, Mandelman, Melgar, Sauter, Sherrill, Walton (Fiscal Impact) Resolution No. 414-25 ADOPTED AS AMENDED by the following vote: Ayes: 11 - Chan, Chen, Dorsey, Engardio, Fielder, Mahmood, Mandelman, Melgar, Sauter, Sherrill, Walton City and County of San Francisco Page 760 Printed at 1:26 pm on 10/22/25 ### [Page 10](https://sfbos.info/documents/1108/2025-09-09-minutes#page-10) Board of Supervisors Meeting Minutes 9/9/2025 250830 [Lease and Amended and Restated Loan Agreement - Balboa Lee Avenue, L.P. - Balboa Reservoir Building E - 100% Affordable Housing - $15,000 Annual Base Rent - Not to Exceed $28,000,000] Sponsors: Mayor; Melgar and Mandelman Resolution approving and authorizing the Director of Property and the Mayor’s Office of Housing and Community Development (“MOHCD”) to enter into a Ground Lease for Real Property owned by the City and located at 11 Frida Kahlo Way (“Property”) with Balboa Lee Avenue, L.P. (“Developer”) 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 100% affordable, 127-unit multifamily rental housing development affordable to very-low and low-income households, plus one manager’s unit; approving and authorizing an Amended and Restated Loan Agreement in an amount not to exceed $28,000,000 for a minimum loan term of 57 years (“Loan Agreement”) to finance the development and construction of the Project; 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 authorizing the Director of Property and/or the Director of MOHCD to execute the Ground Lease, Loan Agreement, and make certain modifications to such agreements, and take certain actions in furtherance of this Resolution, as defined herein. (Fiscal Impact) Supervisor Mandelman requested to be added as a co-sponsor. Resolution No. 415-25 ADOPTED by the following vote: Ayes: 11 - Chan, Chen, Dorsey, Engardio, Fielder, Mahmood, Mandelman, Melgar, Sauter, Sherrill, Walton SPECIAL ORDER 2:30 P.M. - Recognition of Commendations Without objection, Rule 5.36 of the Rules of the Board of Supervisors was suspended to grant privilege of the floor to the following guest(s). Supervisor Chen introduced, welcomed, and presented a Certificate of Honor to Coach Kevin Adams, lifelong educator of Galileo High School. He dedicated 43 years to coaching youth football, basketball, and track. Coach Adams helped coach Galileo High win seven AAA championships, mentored two NFL players, and was inducted in the 2024 San Francisco Prep Hall of Fame. His passion for mentoring youth has touched many lives and Supervisor Chen thanked him for his dedication to the youth of San Francisco. Supervisor Mandelman introduced, welcomed, and presented a Certificate of Honor to Nancy Alfaro in honor of her service to the City and County of San Francisco as a public servant. Alfaro’s career has been defined by her commitment to innovation, progress, and equitable service in the County Clerk’s Office as well as in her capacity as the former Director of 311. The positive changes she has championed create a streamlined process for marriage licenses, language equitability, and transparency. City and County of San Francisco Page 761 Printed at 1:26 pm on 10/22/25