Fees thats a recent development in our housing manage jeff white can provide you with the details its fitting were here to bring the final Gap Financing for this incredible project and the two developers are cdc related partnerships were glad to bring this back and so with that, jeff our housing manager good afternoon. Im happy to be here to present this request for a Housing Project on mission bay boulevard also known as as Mission Bay South block west. The request today is for the gap funding which includes for Construction Funding for 16. 7 excuse me. 16,759,000 that wraps the 2 million predevelopment funding that was previously approved and 17. 5 million for construction. I realize youve recently seen the Schematic Design and approved it conditioning but i want to refresh our memory on some of the block 7 approvals. It has a relatively long history. In november 2005 and march into custody ucsf entered into the d da to develop of the Affordable Housing at its own expense by certain
Director presented its been a long trip i was the original new yorker in 2009 and hope in Commission Sees the wisdom of the endorsement for the project. Thank you. Commissioners im glad the two last speakers talked about the historical issues. Im glad to say i remember the commissioner back in the day of the Housing Authority now, its company is in our community and, in fact, all over the city buying up property that is going to be used by the city but wow, i want to work with our project particularly in my community youre dealing with people that at the bottom of the to tell up pole and deals with Martin Luther king and youre getting the key to the city. But the thing im up here to talk about the history and my perhaps after this are will be in contact with the related california to see we as Community People that look like me are going to be involved with our prosper. Ace you should get up there and talk about the lines maybe because ive not got form education but i can write songs a
Thousand square feet in the paramount on Mission Street. As a quick refresher the agency entered into the lease for a 4 hundred and 92 secret project on Mission Street this is bound by Mission Street and third and jessie and has the paramount immediately adjacent to that the California Historical society and the backside along jessie street is where the hotel so it was completed in 2002 and consistent of a mixed use tower. The site as originally purchased by itself agency with federal urban renewal you funds when it was sold the Purchase Price was denounced and has a nonprofit space specifically h s. In 2003, the developer entered into a lease with 15 thousand square feet which fulfilled the lda requirement to protect the project the lds has to get the consent of the tenancies or any lease termination. On may 6th the agency was asked to reduce the leased premises by 10 thousand square feet and allowed to lease the mandatory to other yourselves this was all in exchange for the buy out p
Commissioner rosales. Madam chair the vote is 3 is next item and the next order of business is 5 b authorizing an amendment amended and stated architecture with the l t Unlimited Partnership consisting of the, llc a california liberate company and the Chinatown Development center a California Nonprofit Corporation for a totally agree gait of 69 million plus for a development of no income artificial building on Mission Bay Block 7 west pursuant to the Quality Control act and resolution number 63, 2014. Thank you madam secretary and thank you to the members of the public for continuing to join us. Commissioners we recently approved a Schematic Design for this particular development a few months ago im glad to report to uscf have paid their fees thats a recent development in our housing manage jeff white can provide you with the details its fitting were here to bring the final Gap Financing for this incredible project and the two developers are cdc related partnerships were glad to bring
The deal you see before you and embarked on negotiations with the city as the agency crisis will be rolled across the street we agreed to the repeal the evidence will show and agreed to the lease amount in 2011 and continue to cooperate with the ocii staff we are continuing to wait in hopes that this deal what move forward and the initial payment can, released to our nonprofits with the focus years to have this happen which you guess has caused significant uncertainly we know firsthand the nonprofits facing in the city we hope to work with one hundred and thirty nonprofit partners weve worked with since 2011 this is on behalf of the staff and members and supporters i ask you to please authorize director lo he to concur with this sins its been approved by the board of supervisors for the additional 41 hundreds square feet if you have any questions, ill be happy to answer them and im deeply grateful for your dedication to the citys improvement thank you. Next speaker. Im tom owens im the