This resolution affirms the Planning Director's approval for UCSF to take over certain rights from California Barrel Company regarding the Potrero Power Station Project. It also includes a waiver of liability for the City, protecting the Developer from claims related to their indemnification obligations for that project section.
Resolution affirming the Planning Director’s approval of an assignment and assumption agreement between California Barrel Company LLC, a Delaware limited liability company (“Developer”), and the Regents of the University of California, on behalf of its San Francisco campus (“UCSF”), pursuant to which UCSF will assume a portion of Developer’s right, title and interest in and to the Development Agreement between the City and Developer for the Potrero Power Station Project, with respect to Block 2 of the Project; approving a Waiver of Liability by the City, acting by and through its Planning Department, for the benefit of Developer, pursuant to which the City will waive and release any claims made for actions subsequent to execution of the Waiver against Developer, in connection with Developer’s indemnification obligations in Section 4.10 of the Development Agreement, with respect to Block 2 of the Project; and adopting findings under the California Environmental Quality Act.
How it got here
This legislation originated from the need to facilitate the assignment of rights in the Potrero Power Station Project from California Barrel Company LLC to UCSF, including a waiver of certain indemnification obligations.
The City and California Barrel Company LLC executed a Development Agreement for the Potrero Power Station Project, which was later approved by the Board of Supervisors and Mayor in Ordinance No. 62-20.
The Planning Commission certified the Final Environmental Impact Report (FEIR) for the Potrero Power Station Project, adopting findings and a Mitigation Monitoring and Reporting Program.
An ordinance was approved to amend the Development Agreement to establish the San Francisco Enhanced Infrastructure Financing District No. 1 (Power Station).
California Barrel Company LLC submitted a Design Review Application for the construction of a new building at Block 2 of the Project, intended for UCSF's outpatient cancer treatment and research.
The Budget and Finance Committee recommended the resolution affirming the Planning Director's approval of the Assignment and Assumption Agreement.
The Board of Supervisors adopted the resolution affirming the Planning Director's approval of the Assignment Agreement and the Waiver of Liability.
The Mayor approved the resolution, finalizing the legislative process for the Assignment and Assumption Agreement.
Reconstructed from attached documents & the official record
