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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 and $11.6 million while expenses could increase to between $10.6 million and $12.8 million, largely because of anticipated capital improvement costs.
Supervisor Kim, the resolution’s author, said stakeholders had worked for years to create a governance structure and that a nonprofit conservancy had already been formed. Kim said the City must identify a clear budget and dedicated revenue before a lease is signed, and she asked the committee to continue the resolution so staff could incorporate feedback from the Department of Real Estate and the Budget and Legislative Analyst. "These gardens are a tremendous benefit to the city," she said, adding that she intended to continue the resolution and return in two weeks with final amendments.
A presenter representing the conservancy noted the wholesale produce market model as an example that included a planned $80,000,000 renewal over 20 years, and he expressed confidence in the conservancy model while acknowledging longer‑term capital gaps beyond a 10‑year pro forma.
During public comment, several neighborhood and stakeholder representatives — including Kathy Maupin (Yerba Buena Community Benefit District), Lance Burwell (YBCBD chair), John Oberling (TODCO) and Karen Carr (Yerba Buena Alliance) — urged support for the conservancy while pressing the City to name funding sources to cover estimated long‑term capital needs (speakers referenced projections in the range of $30 million to $50 million over decades) and to clarify how appointments will be made to the conservancy board.
Supervisor Bridal moved to take the proposed amendments and continue the item, but Supervisor Kim asked the committee to rescind that motion so she could bring final amendments. The committee rescinded the motion and continued Item 2 unamended to the next regular meeting in two weeks for further consideration. No lease or master agreement was approved at this hearing.
