City Council

Item S403:\nApproval of an Affordable Housing Loan Agreement with 73rd Street Investors,\nL.P., in an Amount of $3,000,000 for the 73rd Street Apartments Affordable Housing\nProject. (Added 9/5/25)\nThis item will be considered in the afternoon session which is scheduled to begin at\n2:00 p.m.\nTotal Estimated Cost of Proposed Action and Funding Source:\nThe cost of this loan agreement is not-to-exceed $3,000,000 from the Low and Moderate\nIncome Housing Asset Fund (LMIHAF).\nCouncil District(s) Affected: 9.\nProposed Actions:\n(R-2026-87)\nResolution of the Council of the City of San Diego approving the Loan Agreement for the\n73rd Street Apartments affordable housing project within the College Area Community\nPlan of the City of San Diego and authorizing a related loan in an amount not-to-exceed\n$3,000,000 to the project developer, 73rd Street Investors, L.P.\nCommittee Actions Taken:\nThis item was heard at the Economic Development and Intergovernmental Relations\nCommittee meeting on September 3, 2025.\nACTION: Motion by Vice Chair Foster lll, second by Committee Member Campbell, to\nrecommend Council approval of staff’s proposed actions.\nVOTE: 4-0; Campillo-yea, Foster III-yea, Campbell-yea, Lee-yea.\nEconomic Development: Christina Bibler, (619) 236-6421\nCity Attorney Contact: William W. Witt