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OCII authorizes roughly $2.51 million disbursement and extends Mexican Museum grant
Summary
The Commission on Community Investment and Infrastructure on March 15 approved a fifth disbursement agreement of about $2.51 million and conditionally authorized a 24-month extension to the 2010 grant for the Mexican Museum at 706 Mission Street; both measures passed with 3 ayes and 1 absence.
The Commission on Community Investment and Infrastructure on March 15 authorized a fifth disbursement agreement for the Mexican Museum at 706 Mission Street and conditionally approved a second amendment to the museum's 2010 grant agreement to extend its term to June 14, 2024.
Interim real estate manager Aaron Foxworthy told commissioners the 2010 grant originally committed up to $10,560,000 toward construction of a permanent museum space inside the 706 Mission development. Foxworthy said the museum has used about $2.8 million for predevelopment and $1 million for an exterior art screen, leaving roughly $6.78 million in grant funds available (the transcript contains both $6,780,000 and $6,785,000 as remaining figures). Staff presented a proposed fifth disbursement agreement for up…
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