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Committee backs PUC administration building design changes, trims contingency
Summary
The committee recommended approval of an amendment to architectural services for the new SFPUC administration building at 525 Golden Gate Avenue and supported certificates of participation financing, accepting a reduced contingency and sending both items to the full board with recommendation.
Supervisors forwarded two related measures affecting the San Francisco Public Utilities Commission's new administration building at 525 Golden Gate Avenue: an amendment to the architectural design agreement and authorization to issue certificates of participation (COPs) to finance acquisition, demolition and improvements.
Tony Irons, acting general manager of the PUC, described the building as a nationally notable green project that will incorporate water conservation, on-site renewable power and on-site wastewater treatment for nonpotable uses. The Mayor's Office of Public Finance and the budget analyst recommended reducing the project contingency from $173 million to $167.67 million; Nadia Sasse (Mayor's Office) said the reduced contingency is acceptable and that the PUC considers the debt self-supporting and off the general fund.
The committee voted to forward both Items 3 and 4 to the full Board with recommendation without objection and indicated support for the amended project budget and COP financing approach. The committee also noted administrative steps for funding from avoided rent and future land sales revenue.
