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Committee recommends one-year extensions to Treasure Island master leases with Navy
Summary
The committee recommended forwarding three one-year extensions of master leases between the Treasure Island Development Authority and the U.S. Navy (childcare center, South Waterfront, and Land & Structures parcels); TIDA staff said there are no changes to lease terms or financial impacts under the amendments.
The Budget & Finance Committee recommended the full Board approve three one-year extensions to master leases on Treasure Island between the Treasure Island Development Authority (TIDA) and the U.S. Navy.
Supervisor Peter Somerville, representing TIDA, explained the amendments extend the Treasure Island Childcare Center lease, the South Waterfront master lease, and the Land & Structures master lease for one year. Somerville told the committee there are no changes to lease terms, no expenses or revenues associated with the extensions, and that the master leases historically have been on year-to-year terms. He said staff would discuss whether the Navy would agree to multiyear terms for future amendments to avoid annual renewals.
No public comment was received on the items. Supervisor Yi moved and Supervisor Tang seconded the motion to forward Items 17–19 to the full Board with a positive recommendation; the committee took the motion without objection.
