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Committee forwards Port lease amendment for Building 49 that scales back seismic scope and accelerates restrooms
Summary
The committee recommended that the full Board approve an amended lease for Building 49 at Crane Cove Park that reduces planned seismic retrofits, removes $500,000 in port rent credits, delays rent commencement to Oct. 1, and requires the YMCA to open public restrooms by July 1; BLA flagged lost seismic work of about $1.4 million and said it will review port vetting more closely.
The Budget and Finance Committee on Feb. 14 recommended forwarding to the Board of Supervisors an amended and restated lease for Building 49 at Crane Cove Park with several material changes from the lease approved in June 2023.
Port staff said the amendment reduces the originally planned seismic retrofit scope to restore financial feasibility for the YMCA tenant and its subtenants. Jamie Hurley of the Port’s real estate and…
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