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Board OKs 10-year lease for Employees’ Retirement System office at 1145 Market
Summary
The Board of Supervisors approved a resolution authorizing a 10-year lease for the San Francisco Employees’ Retirement System at 1145 Market Street, drawing questions from supervisors about space needs, remote service options and retirement-board responsiveness to board inquiries.
The San Francisco Board of Supervisors voted 7–4 to authorize a 10-year lease at 1145 Market Street for the San Francisco Employees’ Retirement System (SFERS), approving an estimated total payout of about $15,600,000 for the term of Aug. 1, 2014, through July 31, 2024.
The vote followed an extended exchange about why SFERS needs the additional space, how much of it will be public-facing, and whether the system had explored using technology or City Hall facilities to reduce square footage and rental costs. "Part of the excitement that we have about this new space is we're going to be doubling the public space,"…
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