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OCII approves 18-month extension of Mexican Museum grant, removes proposed transfer to City
Summary
The Office of Community Investment and Infrastructure approved an 18-month extension of the 12/14/2010 grant agreement with the Mexican Museum and voted to delete a proposed assignment of the grant to the City and County of San Francisco; the remaining grant balance is about $6.8 million and the item will be reviewed by the oversight board and the State Department of Finance.
The Commission on Community Investment and Infrastructure on Sept. 15 authorized staff to extend by 18 months a 2010 grant agreement with the Mexican Museum and removed a proposed assignment of that grant to the City and County of San Francisco.
Chair Miguel Bustos and two other voting commissioners approved the amendment on a 3-0 vote with one commissioner absent. The adopted action extends the term of the first-amendment to the December 14, 2010 grant agreement and preserves roughly $6.8 million remaining under the grant for the museum’s tenant improvements.
Staff said the 2010 grant agreement originally obligated $10,560,000 to help the Mexican Museum with predevelopment and build-out costs for its space in the 706 Mission mixed-use project in the Yerba Buena Cultural District. Under the 2013 purchase-and-sale agreement, the…
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