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Committee forwards UCSF Mission Bay block transfer and payment package after analysis of tax impacts
Summary
The committee advanced a consent resolution allowing transfer of Mission Bay Blocks 33–34 to UCSF with a one‑time payment package ($32.1M) that OCII and the analyst say, when combined with projected tax shifts from UCSF vacating downtown leases, offsets prior revenue estimates; the package includes funds for affordable housing and infrastructure.
OCII, OEWD and UCSF presented a memorandum of understanding and payment package for transfer of Mission Bay Blocks 33 and 34 to the University of California San Francisco. The proposed arrangement would require UCSF to make a one‑time payment of $32.1 million: $10.2 million committed to affordable housing acceleration and $21.9 million to infrastructure via the Mission Bay master developer. OCII and an independent economics consultant (ALH Economics) reviewed the fiscal impacts and reported that consolidation of…
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