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Port endorses revised PG&E 230 kV term sheet; staff negotiates prepaid rent and community benefits
Summary
The Port Commission authorized staff to enter a revised term sheet with PG&E for a proposed 230 kV transmission redundancy project, preferring a submerged "blue" route and negotiating public benefits including an estimated $14.8 million prepaid rent and an OEWD option on the Hoedown Yard site.
Port staff presented a revised term sheet negotiated with Pacific Gas & Electric for a proposed 230 kV transmission upgrade intended to provide redundancy to downtown San Francisco and reduce the risk of prolonged outages.
Brad Benson, Director of Special Projects, summarized the revision: PG&E proposes a 40-year license with an option to renew (up to 66 years under the Burton Act) and a prepaid rent structure with an expected $14.8 million paid in two lump sums. The commission heard that the submerged "blue" route —…
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