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Land Use Committee backs Port term sheet to bring Teatro Zinzani back to Seawall lots
Summary
The committee gave a positive recommendation to the full Board for a Port term sheet that would site a Teatro Zinzani dinner theater, a boutique hotel and privately funded public space on Seawall Lots 323–324. Staff cited a roughly $124 million project cost, no Port capital funding, and job and revenue estimates.
The San Francisco Board of Supervisors Land Use and Transportation Committee on Wednesday recommended that the full Board endorse a Port of San Francisco term sheet with developer Teatro Zinzani to lease and develop Seawall Lots 323 and 324 for a boutique hotel, dinner theater and public open space.
Ricky Tidani, development project manager for the Port, told the committee the total development cost is currently estimated at about $124,000,000, with roughly $64,000,000 in equity and no Port funding. The term sheet proposes an initial 50-year lease with an option for an additional 16 years, a lease…
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