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Committee forwards 42-year Yerba Buena Gardens master lease after technical edits
Summary
The Land Use and Transportation Committee advanced a proposed master lease designating the Yerba Buena Gardens Conservancy as master tenant, inserted clarifying language on a district supervisor appointment, and agreed to tighten delegated amendment authority before the Board hears the lease.
Chair Aaron Peskin and committee members advanced a master lease that would place management of Yerba Buena Gardens with a new nonprofit conservancy and send the measure to the full Board of Supervisors after technical amendments.
The committee heard from Andrei Penick, Director of Real Estate, who described the lease as a long-term arrangement created to preserve the unified management of the gardens after redevelopment-era transfers. Penick said the lease term runs from the date of Board approval until Sept. 1, 2061 — roughly 42 years — and that the rent is set at $1 per day. He said the conservancy would be governed by a permanent board composed of eight community members and five city representatives and that the lease…
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