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Committee recommends no‑cost 20‑year lease for SF General Hospital Foundation, flags waived rent value
Summary
The committee recommended approval for a 20‑year, no‑cost lease of approximately 4,900 sq ft at Fifth Street for the San Francisco General Hospital Foundation; the Budget and Legislative Analyst said waiving rent equates to about $13.6 million over 40 years and categorized the arrangement as a policy matter for the full Board.
The Budget & Finance Committee on Nov. 1 voted to forward to the Board of Supervisors a resolution authorizing a no‑cost 20‑year lease (with two 10‑year options) of roughly 4,900 square feet at 2789–2920 Fifth Street to the San Francisco General Hospital Foundation.
Rico Penick, Director of Real Estate, said the lease continues a long partnership among the…
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