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Board committee advances Balboa Reservoir development agreement and SFPUC sale amid heated public comment
Summary
The Budget & Finance Committee advanced the Balboa Reservoir development agreement and SFPUC purchase‑sale agreement to the full Board on July 29, 2020 after accepting late amendments that aim to strengthen permanent affordability, add a schedule of performance, and return key affordable parcels to city control. Public comment ran strongly for and against the sale of public land.
President Norman Yee, the Board of Supervisors president, told the Budget & Finance Committee the Balboa Reservoir package would deliver 1,100 new homes with 50% permanently affordable units and multiple public benefits. “The project proposes 1,100 unit housing project that includes 50% affordability,” Yee said, outlining 550 affordable units and a 150‑unit set‑aside for educators.
The committee heard detailed presentations from the Office of Economic and Workforce Development and the San Francisco Public Utilities Commission. Lee Lutensky (OEWD) described site plans, financing expectations and timing; Michael Carlin (SFPUC) summarized the purchase and sale agreement (PSA) that would sell roughly 16 acres to Reservoir Community Partners LLC for $11,400,000 and noted the appraisal and feasibility studies that support that valuation.
A formal Budget Legislative…
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