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Supervisors and neighborhood groups back Yerba Buena Conservancy but ask for funding plan and governance details
Summary
Supervisors and community stakeholders expressed broad support for creating the Yerba Buena Gardens Conservancy but asked the city to identify concrete long‑term funding sources, clarify board appointment processes and produce a master lease and capital plan before the transfer occurs; the matter was continued to the next meeting.
The Government Audit and Oversight Committee on Oct. 6 considered a resolution recognizing the formation of the Yerba Buena Gardens Conservancy and the City’s intent to enter a future master lease for Yerba Buena Gardens.
Deborah Newman of the Budget and Legislative Analyst’s Office said OCII currently owns, maintains and manages Yerba Buena Gardens and intends to transfer the property to the City in 2017. Newman reported FY14‑15 revenues of about $13,300,000 and expenses of about $8,400,000, yielding a surplus just over $5,000,000 for that year, but warned that 10‑year projections show revenues declining to between $9.6 million…
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