Nature of Contract
The contract is a long term ground lease leasing the land at 25 Essex Strees to the above-named contractor for an initial 75 year term with an option to extend for 24 years. The contractor will own the building that will be built on the land. The ground lease stipulates that the contractor must operate the housing built on the site as affordable supportive housing. This ground lease was apporived by the San Francisco Redevelopment Agency Commission on October 19,2010 by Resolution Number 127-2010.
Date Contract Approved
11/15/11
Amount
$0 – Ground Lease