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SFPUC lease pipeline right-of-way to Chevron for 20 years at below-market initial rent and robust protections
Summary
The SFPUC seeks committee approval for a 20-year lease of roughly 11.7 acres and 5.4 miles of pipeline right-of-way to Chevron Pipeline Co. at an initial $12,500 annual rent with CPI inflators, five-year fair-market resets and a $1 million security deposit; the BAO said appraisal supports the rate and the SFPUC commission already approved the transaction.
The San Francisco Public Utilities Commission has approved and the Budget and Finance Committee reviewed a proposed 20-year lease of an existing Chevron pipeline right-of-way near the San Antonio Reservoir in Alameda County.
John Opdieck,…
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