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Port lease at Pier 50 for Bauer Transportation advanced to Board amid EIR appeal; committee adds record language
Summary
The Port sought committee approval for a 10-year lease with Bauer Intelligent Transportation at Pier 50; committee accepted a formal whereas clause referencing the certified final EIR (now on appeal) and sent the item to the Board without recommendation because the EIR appeal will be considered by the full Board.
The Port of San Francisco presented terms for a 10-year lease at Pier 50 with Bauer Intelligent Transportation for office, shed and exterior paved space, and committee members discussed rent credits, abatement and net-revenue projections.
Jay Edwards, senior property manager for the Port, said the lease would encompass roughly 4,370 square feet of office, 68,777 square feet of shed space and about 50,347 square feet of paved exterior area; Bauer has been a port tenant since 1999 and the lease includes rent abatement and credits with escalated payments over the term. Deborah Newman of the Budget Analyst's office said net revenues to the Port over 10 years were estimated at about $8.45 million after $871,000 in rent credits and abatement and that figure was about $20,000 more than the port-parameter estimate.
Jay Edwards asked to add a whereas clause to the resolution documenting that the final environmental impact report (certified by the Planning Commission on 12/15/2011) is on appeal; the committee read the clause into the record and agreed to send the item forward as amended but without a committee recommendation because of the pending EIR appeal. Public comment was not received on the item at committee.
