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Votes at a glance: Jan. 14 Budget & Finance Committee actions
Summary
The committee advanced multiple items to the full Board on Jan. 14: an 87‑year $1/year nonprofit lease at 167 Jesse St., the FY14‑15 GANN appropriations limit report, a $1.2 million Subway lease buyout at SFO, continuance of two airport lease amendments, and a $200,000 appropriation for portable restrooms; several items were moved without objection.
The San Francisco Budget & Finance Committee took the following formal actions on Jan. 14 and advanced items to the Board of Supervisors or continued them to a later date.
167 Jesse Street lease (Item 1): Committee considered a resolution authorizing an 87‑year lease at 167 Jesse Street with Third & Mission Associates for a base rent of $1 per year to preserve space set aside for a nonprofit user. City real estate staff said the space is roughly 4,000 square feet, is a rough concrete/stud shell that would require an estimated $500,000 in tenant improvements, and would carry about $65,000 per year in occupancy costs. Public comment was none; the committee moved the item forward and took it without objection.
GANN appropriations limit (Item 2): The Controller’s Office presented the FY14‑15 appropriations (GANN) limit analysis. Controller staff estimated prior year limit ~ $2.8 billion, adjusted FY14‑15 limit ~ $2.84 billion, total tax proceeds ~ $3.2 billion, and appropriations subject to the limit ~ $2.7 billion, leaving the city approximately $81 million below the limit. The budget analyst recommended approval and the committee moved the item forward without objection.
SFO Subway lease buyout (Item 3): The committee approved an early termination and buyout of Subway’s Terminal 3 leases for an amount not to exceed $1,200,000 to allow permanent closure of two locations affected by terminal renovation. Airport staff said the negotiated buyout of $1,200,000 represented about a 23% discount to an estimated net present value of $1,565,000; funding was included in the airport’s FY14‑15 budget. The committee adopted a clerical amendment and moved the item forward as amended.
Items 4 and 5 (airport lease amendments): The committee continued Items 4 and 5 to the call of the chair for procedural reasons and opened public comment (none) before the continuance.
1995 Evans Street acquisition (Item 7): The committee moved forward a resolution authorizing acquisition of 1995 Evans St. for roughly $15 million (effective price staff cited ~$15,405,000) without recommendation; staff noted a $70,000 January rent waiver and compared price metrics to recent market sales. Budget staff said they had not fully analyzed the latest information; at least one supervisor said he planned to vote no at the full Board.
Portable restroom appropriation (Item 8): The committee approved forwarding an ordinance appropriating approximately $200,000 to the Department of Public Works operating budget to maintain portable restrooms and waste stations (to continue the program presented earlier). The committee took the motion without objection.
Adjournment: The meeting adjourned after all business was completed.
