This resolution confirms that the proposed lease and development of Pier 45 Shed A, the former Shed C area, and parts of Seawall Lot 300/301 is financially viable. It also supports the key points outlined in the development agreement.
Resolution finding the proposed lease and development of Pier 45 Shed A and the former Shed C area, and portions of Seawall Lot 300/301, generally located along the Embarcadero at the terminus of Taylor Street, fiscally feasible under Administrative Code, Chapter 29, and endorsing the term sheet.
How it got here
The legislation originated from a proposal by Fisherman’s Wharf Revitalized, LLC to develop Pier 45 and Seawall Lot 300/301, prompted by the need for revitalization of the Fisherman’s Wharf area.
The Port received an unsolicited proposal from Fisherman’s Wharf Revitalized, LLC to lease and develop portions of Seawall Lot 300/301 and Pier 45 Sheds A and C.
The Port issued a Request for Information to seek feedback on comparable development interest in the site, following community engagement.
The Board adopted Resolution No. 425-23, waiving competitive solicitation procedures and urging the Port to negotiate an Exclusive Negotiation Agreement with the Developer.
The Port Commission approved Resolution No. 23-47, authorizing staff to enter into an Exclusive Negotiation Agreement with the Developer.
The Port Commission endorsed the Term Sheet outlining the fundamental deal terms for the Project and directed staff to present it to the Board for endorsement.
The Board of Supervisors adopted the resolution finding the proposed lease and development fiscally feasible under Administrative Code, Chapter 29.
Reconstructed from attached documents & the official record
