This ordinance approves and authorizes the Director of Property to acquire the real property at 601-617 Laguna Street for $11,030,000. The property, currently a vacant two-story, 10,300 rentable square foot building licensed for 47 assisted living beds, will be converted into an assisted living facility for low-income seniors and adults with disabilities, fulfilling a critical need identified by the Department of Public Health (DPH) in San Francisco. The project includes $8,140,000 for improvements and repairs, an $800,000 City contingency, and $30,000 for closing costs, totaling an anticipated project cost not to exceed $20,000,000. The seller, Pacifica SFO LLC, will manage the seismic upgrades and project improvements. The project is exempt from certain contracting requirements but mandates prevailing wages, a local business enterprise utilization program, and compliance with the City’s local hire policy and first source hiring Ordinance. The Planning Department found the acquisition consistent with the General Plan and the eight priority policies of Planning Code, Section 101.1.