Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Board approves transfer of Mission Bay blocks to UCSF with upfront payments for affordable housing and infrastructure
Summary
Supervisors approved agreements allowing UCSF to acquire Blocks 33 and 34 in Mission Bay South with lump‑sum payments totaling $32.1 million to cover affordable housing and infrastructure obligations; supporters said the funds accelerate housing construction, opponents argued the city received a discounted amount.
The San Francisco Board of Supervisors voted to consent to the transfer of Mission Bay South Blocks 33 and 34 to the Regents of the University of California and to approve related payments that will fund affordable housing and infrastructure in the redevelopment area.
UCSF will provide an upfront payment of $32,100,000 in lieu of annual payments that a taxable developer would have paid over time under the redevelopment pilot agreement. OCII (the Office of Community Investment and Infrastructure) will receive about $10,200,000 of that sum for affordable housing; a further $21,900,000 is designated for public infrastructure reimbursements to the master developer under existing enforceable obligations.
Christine Maher, a development specialist at OCII, told the board that although UCSF's upfront payment is less than the full net present value that…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
