Votes at a glance: San Francisco supervisors approve Treasure Island financing, port leases, grants and contracts

The San Francisco Board of Supervisors on Dec. 10 approved a broad set of ordinances, resolutions and motions spanning port leases, Treasure Island infrastructure financing, retroactive grant acceptances for public health and shelter services, and contracts for city services.

Major items and outcomes

- Port and Waterfront Leases (Items 1618): The board approved three measures offered by the Port Commission. The package included an amendment to the business and tax regulations code to exempt certain Port Commission leases from real property transfer taxes (effective 11/01/2024 through 12/31/2034), authorization of a new 57-year lease for Waterfront Plaza with an initial annual base rent of $1,000,000, and a resolution endorsing a term sheet for the proposed lease and development of Pier 45 and related seawall lots. Vote: unanimous (10-0); ordinances passed, resolutions adopted.

- Treasure Island financing and capital plan amendments (Items 1923): The board took action on five items to support Treasure Island Stage 2 infrastructure financing including authorization to issue certificates of participation (COPs) in an amount evidenced at $65,000,000 for Stage 2, appropriation of approximately $65,500,000 to the Treasure Island Development Authority (including COP proceeds and other local sources), and related resolutions confirming district debt structures and revisions to the 10-year…