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Resolution#231278Passed
In plain English
This resolution establishes a no-build zone on city-owned land next to 1450 Owens Street for future public park use, with the property owner agreeing to pay the city $72,000 annually, increasing by 3% each year. The agreement will last indefinitely starting January 1, 2024, unless the city decides to terminate it.
Resolution approving a Declaration of Restrictions with the ARE-SAN FRANCISCO NO. 15 OWNER, LLC (“Owner) to establish a no-build zone on a portion of property owned by the City and County of San Francisco, adjacent to the Owner’s property at 1450 Owens Street, intended for future public park uses, providing for annual payments in the initial amount of $72,000 with 3% annual increases, to the City from Owner in exchange for such restrictions for term effective on January 1, 2024, through in perpetuity unless terminated by the City, as defined in the Declaration of Restrictions; and authorizing the Director of Property to execute any amendments, make certain modifications and take certain actions that do not materially increase the obligations or liabilities to the City, do not materially decrease the benefits to the City and are necessary or advisable to effectuate the purposes of the Declaration of Restrictions or this Resolution.
How it got here
Document trail
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How they voted
ADOPTED
Board of Supervisors · Jan 30, 2024Pass
5-0
RECOMMENDED
Budget and Finance Committee · Jan 24, 2024Pass
3-0
Legislative journey
PresidentDec 12, 2023
→RECEIVED AND ASSIGNED
Budget and Finance CommitteeJan 24, 2024
✓RECOMMENDEDPass
Board of SupervisorsJan 30, 2024
✓ADOPTEDPass
MayorFeb 9, 2024
✓APPROVED