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Budget committee continues Mission Bay ground-lease amendment at applicants' request
Summary
The Budget & Finance Committee continued a resolution to approve a second amendment to a Mission Bay ground lease after the Mayor's Office of Housing said outstanding lender issues remain. The item will return to the committee at the chair's call.
The San Francisco Board of Supervisors' Budget & Finance Committee on Dec. 12 agreed to continue a resolution authorizing a second amendment to the ground lease for property at Berry and King streets after housing officials asked for more time to finalize lender negotiations.
Amy Chan, representing the Mayor’s Office of Housing and Community Development, told the committee the mayor’s office hoped to resolve outstanding issues with the project lender but had not yet reached an agreement. Chair Supervisor Malia Cohen said continuing the item to the call of the chair would allow the mayor’s office to finish negotiations without prejudicing the project's review.
Supervisor Tang moved to continue the item and the committee accepted the motion without objection. There was no public comment on the lease amendment at the hearing.
The committee did not take a final vote; staff said the item will return to committee when the mayor’s office and the lender reach agreement.
