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Health Commission approves using hospital property as short-term security for $160M Transbay bridge loan, 6-1
Summary
The commission approved a resolution to lease parts of the Zuckerberg San Francisco General Hospital campus as security for certificates of participation to support Transbay Transit Center bridge financing not to exceed $160 million; the vote passed 6-1 after staff described limited operational risk to hospital functions.
The Health Commission voted to approve a resolution authorizing the leasing and subleasing of portions of the Zuckerberg San Francisco General Hospital campus to serve as security for short-term certificates of participation (COPs) in an amount not to exceed $160 million to finance a portion of the Transbay Transit Center project.
John Updike, the citys director of real estate, told commissioners that pledging portions of the hospital campus for…
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