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Board committee approves 3‑year Central Parking lease for two Seawall lots after merchant concerns
Summary
The Board’s budget committee approved a three‑year lease with Central Parking for Seawall Lots 301 and 314 (Triangle Parking Lot and Seawall Lot 314), adding a budget‑analyst requirement that the port report back at the end of the term. Fisherman’s Wharf merchants urged protections for validated parking and criticized a controller audit.
The Board of Supervisors' Budget and Finance Committee approved a resolution to lease two waterfront parking lots to Central Parking System, a nationwide parking operator, under a three‑year contract that the port commission recommended.
The port’s leasing manager, Jeffrey Bauer, told the committee the award followed a competitive process and that the lease guarantees a minimum rent of nearly $6 million over three years and provides revenue share based on the greater of a minimum rent or 66% of gross revenues. Bauer said the agreement would modernize operations at the Triangle Parking Lot and Seawall Lot 314 by adding revenue‑capture equipment, gates, signage and a validation program for Fisherman's Wharf…
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