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Commission approves $130M bonds for Mission Bay South redevelopment and park management transfer

November 07, 2023 | San Francisco City, San Francisco County, California


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Commission approves $130M bonds for Mission Bay South redevelopment and park management transfer
In a pivotal meeting held at San Francisco City Hall, city officials took significant steps toward enhancing the Mission Bay area, focusing on redevelopment and community facilities. The meeting, marked by a series of resolutions, underscored the city’s commitment to improving public spaces and affordable housing.

The first major action involved the approval of special tax refunding bonds for the Mission Bay South redevelopment project, amounting to $130 million. This funding is earmarked for public improvements, reflecting the city’s ongoing efforts to revitalize the area. The motion passed with a vote of 3-0, with one commissioner absent, signaling strong support for the initiative.

Following this, the commission discussed the termination of an agency ground lease related to the Mission Bay Open Space parcels. This decision is a crucial step in transferring maintenance responsibilities to the city’s Recreation and Parks Department and the Port of San Francisco. The transition aims to streamline the management of the Mission Bay parks, which are set to encompass 41.5 acres upon full development. The community has reportedly responded positively to the management thus far, indicating a successful collaboration between city departments.

Mark Slutskin, deputy director for the Office of Community Investment and Infrastructure (OCII), elaborated on the long-term vision for Mission Bay, emphasizing the importance of community facilities districts in funding park maintenance. However, he noted that rising operational costs and inflation could pose challenges in sustaining these facilities beyond 2029, when current funding mechanisms may fall short.

In a related discussion, the commission approved a contract for environmental review services aimed at maximizing affordable housing in the Mission Bay South redevelopment area. This contract, valued at $440,817, will facilitate the development of two remaining blocks designated for affordable housing. The initiative is part of a broader strategy to address housing shortages in the city, with plans to analyze potential amendments to existing development standards to accommodate more units.

As the meeting concluded, city officials expressed optimism about the future of Mission Bay, highlighting the collaborative efforts between various departments and community stakeholders. The decisions made during this session are expected to lay the groundwork for a more vibrant and accessible urban environment, reflecting San Francisco's commitment to sustainable development and community well-being.

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