Supervisors advance fiscal‑feasibility review for Warriors’ Pier 30–32 arena, with CAC protections

Chair Carmen Chu convened the Budget & Finance Committee on Nov. 13 and heard a multi‑hour presentation and discussion of the Golden State Warriors’ proposal to rehabilitate Piers 30–32 and develop Seawall Lot 330 into a multipurpose arena, public open space and mixed uses. City staff described a conceptual finance framework that would privately finance above‑pier development while capping city and port reimbursement for agreed substructure improvements at $120 million.

The committee’s fiscal‑feasibility hearing centered on the conceptual framework presented by the Office of Economic and Workforce Development and port staff, which assumes the Warriors privately finance construction of the arena and associated development; the city and the Port of San Francisco would reimburse eligible substructure improvements up to a $120 million cap. Staff told the committee that proposed repayment sources are limited to three buckets: rent credits tied to Pier 3032 (valued at roughly $1.9 million annually), one‑time proceeds from sale or prepaid ground lease of Seawall Lot 330 (appraised near $30 million), and new property tax revenue secured through an infrastructure financing district (estimated about $5.8 million per year). Staff…