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Committee backs 66-year Port lease to enable Potrero Power Station redevelopment
Summary
The Budget and Finance Committee recommended to the full Board a 66-year ground lease of roughly 1.6 acres of Port shoreline to California Barrel Company LLC to support the Potrero Power Station redevelopment, including public shoreline park improvements estimated as tens of millions of dollars in developer contributions.
San Francisco — The Budget and Finance Committee voted March 25 to send a positive recommendation to the full Board for a 66-year ground lease of port shoreline to a developer for the Potrero Power Station project.
The resolution before the committee would authorize a ground lease to California Barrel Company LLC for approximately 1.6 acres of shoreline property adjacent to 20 Second/Third streets and Illinois Street. John Lau of the Office of Economic and…
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