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Subcommittee approves retroactive SFMTA lease for Taylor Street operator facilities
Summary
The subcommittee approved a retroactive 10‑year lease (with a 10‑year option) between the city/SFMTA and North Beach Retail Associates for operator restrooms, a break room and a ticket sales office at 2449–2450 Taylor Street; first‑year rent is $7,920 with 3% annual increases and total payments of about $1,025,000 over 20 years.
The Budget & Finance Subcommittee approved a retroactive lease between North Beach Retail Associates, LLC and the city acting through the San Francisco Municipal Transportation Agency (SFMTA) for premises at 2449 and 2450 Taylor Street to provide restrooms, a break room and a ticket sales office for Muni operators.
Kirsten McGarry, senior manager of real estate for the SFMTA, said the location serves the Powell Street cable car terminal and provides critical facilities for operators. “Operators need decent, safe, and sanitary facilities in which to serve them for personal needs, and they need to have those in order close by the terminal locations in order not to have to leave scheduled routes,” McGarry said.
Under the approved 10‑year lease with a 10‑year option, first‑year rent is $7,920 and increases by 3% annually; the agency estimated total rent payments of about $1,025,000 over 20 years. Budget Analyst Mr. Rose said his office made a close call but recommended approval, noting the SFMTA previously had an option at $6,000 annually for six years and that, under the Port/Real Estate Division’s projections, the long‑term net present value produced a small savings over 20 years.
The subcommittee amended the item for retroactivity and approved it without objection, forwarding the resolution to the full Board.
