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Board committee backs transfer of century-old Civic Center steam loop and advances two long-term city leases
Summary
The Budget and Finance Committee voted to forward to the full Board a package that would transfer the city-owned Civic Center steam loop to Energy Center San Francisco with a $3.1 million repair payment and advance long-term leases at 1145 and 1455 Market Street to consolidate city offices and save ongoing rent costs.
The Budget and Finance Committee on April 17 forwarded to the full Board a multi-part real estate package that would transfer ownership of the century-old Civic Center steam loop to Energy Center San Francisco and approve long-term leases for city occupancy at 1145 and 1455 Market Street.
President of the Board Aaron Peskin, the package sponsor, summarized the deal as a plan to move an aging, high-liability asset out of direct city maintenance while preserving service to civic facilities. Real Estate Director Andrico Penick told the committee the loop—built in 1915—has suffered deferred maintenance and that emergency and replacement needs would cost the city an estimated $4.9 million for immediate repairs and roughly $12 million to replace corroding piping and…
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