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Committee forwards Oceanwide street‑vacation and preservation‑fund measures; ordinance referred to Board for July 19 hearing
Summary
The committee accepted City Attorney amendments and moved a resolution to vacate parts of Jesse Street and Elm Alley and an ordinance establishing a Downtown Neighborhood Preservation Fund tied to the Oceanwide Center. Item 2 received a positive recommendation; Item 3 was referred to the Board hearing on July 19, 2016.
The Land Use and Transportation Committee on June 7 advanced actions related to the Oceanwide Center (50 First Street), accepting City Attorney amendments and moving forward on a street‑vacation resolution and an ordinance to establish a Downtown Neighborhood Preservation Fund funded in part by project fees and the sale of vacated street property.
Jeff Buckley of the Mayor’s Office described 50 First Street as a mixed‑use development at First and Mission with roughly 1,000,000 square feet of office space, about 265 residential units, a 169‑room hotel and ground‑floor retail. Buckley said the street vacation of portions of Jesse Street and Elm Alley is necessary to construct the First Street Tower as planned under the Transit…
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