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OCII authorizes short extension to Transbay Block 4 option to finish negotiations
Summary
The commission approved a second amendment allowing OCII's executive director to extend the option-exercise deadline for Transbay Block 4 to March 31, 2021, with discretionary authority to extend to June 30, 2021, so staff and the developer can finalize a disposition and development agreement.
The Office of Community Investment and Infrastructure on Dec. 31 approved a second amendment to the option agreement for Transbay Block 4 that extends the developer’s outside option-exercise date from Jan. 1, 2021, to March 31, 2021, with the executive director authorized to extend again to June 30, 2021 if needed to complete negotiations.
Paige Peltzer, a development specialist on OCII’s real estate and development team, told the commission the development team and OCII staff have made significant progress on a…
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