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Committee recommends lease allowing near‑term activation of the Old Mint for community events
Summary
The committee recommended a near‑term lease with NPU, Inc. to activate the Old United States Mint at 88 Fifth Street for cultural and community events while planning for longer‑term restoration; the office of economic development described tenant improvements and a participation‑rent/rent‑credit structure.
San Francisco — The Government Audit and Oversight Committee on Feb. 20 recommended a resolution approving a near‑term lease with NPU, Inc. to operate and program the Old United States Mint at 88 Fifth St., with community programming and tenant improvements tied to a rent‑credit mechanism.
John Lau (Office of Economic and Workforce Development) described a negotiated two‑year initial term with renewal options, a participation rent structure (the city shares event revenues), and a rent‑credit model that incentivizes tenant improvements while ensuring compliance with historic‑preservation standards. The near‑term lease is intended to activate the facility for community gatherings, performances and markets while the city pursues a long‑term reuse plan led by the California Historical Society.
Community groups, including Soma Pilipinas, and the proposed tenant Jordan Langer (NPU) described past activations and commitments for quarterly community dates and programming sensitive to the surrounding Filipino Cultural Heritage District. The committee accepted conforming edits to the resolution and moved the item to the full Board with a positive recommendation.
Note on fiscal details in the record
The agenda text read a monthly base rent of $20,000, but the presentation later cited a base rent of $22,000 per month; the committee accepted conforming edits and asked the real estate division to confirm final lease terms as the contract is finalized.
