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Supervisors endorse Mission Rock term sheet and fiscal-feasibility findings; analysts flag parking-structure funding gap
Summary
The committee endorsed the Mission Rock/Seawall Lot 337 term sheet and its fiscal-feasibility declaration, received presentations on scale, jobs and parks, and the budget analyst recommended amendments and requested port reporting on a $6.16 million parking-structure financing gap.
The Budget & Finance Subcommittee on May 1 considered and moved forward a resolution declaring the proposed Mission Rock project at Seawall Lot 337 fiscally feasible and endorsing a term sheet between the Port of San Francisco and Seawall Lot 337 Associates.
Phil Williamson, the Port’s project manager, and the development team described a mixed-use plan for the site: roughly 3.6 million square feet of development with a scenario projecting about 2,000 residents, 6,550 on-site jobs and approximately 11,100 permanent jobs including induced employment; the plan includes more than eight acres of parks and open space and restoration of Pier 48, where Anchor Brewing Company would be a tenant. The port and developer…
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