City Council

Item S404:\nApproval of an Affordable Housing Loan Agreement with Market Street Senior\nHousing, L.P., in an Amount of $5,000,000 for the Market Street Apartments\nAffordable Housing Project. (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 $5,000,000 from the Low and Moderate\nIncome Housing Asset Fund (LMIHAF).\nCouncil District(s) Affected: 4.\nProposed Actions:\n(R-2026-72)\nResolution of the Council of the City of San Diego approving the Loan Agreement for the\nMarket Street Apartments Affordable Senior Housing Project within the Encanto\nCommunity Plan Area and authorizing a related loan in an amount not-to-exceed $5\nmillion to the Project Developer, Market Street Senior Housing, LP.\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: Kate Malcolm