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Supervisors Continue Review of 10-Year Lease for Retirement System at 1145 Market
Summary
The Budget and Finance Committee continued consideration of a proposed 10-year, 37,289 sq ft lease at 1145 Market Street for the San Francisco Retirement System after questions about staffing growth, program use of expanded space, and public meeting access. Staff will return with more detail and a site visit was requested.
Chair Mark Farrell and members of the Budget and Finance Committee continued discussion of a proposed 10-year lease at 1145 Market Street for the San Francisco Employees’ Retirement System, saying they needed more information before taking final action.
John Updike, Director of Real Estate, told the committee the proposal would lease 37,289 square feet to the retirement system, relocate its offices from 30 Van Ness, include a five-year option to extend, and an exit clause allowing the city to depart after July 1, 2017 if a different civic center location becomes available. Updike said the move responds to growth in staff — from about 62 to nearly 100 employees over time — and to “privacy concerns” during individual counseling that the…
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