This resolution allows the Port of San Francisco to amend a lease with the YMCA SF for Building 49, removing a $6,000 reduction in rent credits for restroom maintenance and providing an additional $150,000 in rent credits for structural improvements. It also authorizes the Port's Executive Director to make necessary adjustments to complete the agreement without increasing the city's liabilities.
Resolution approving and authorizing the execution, delivery, and performance of the First Amendment to Port Lease No. 17134 for Building 49, located at 701 Illinois Street within Crane Cove Park between the Port of San Francisco and the Young Men’s Christian Association of San Francisco (YMCA SF) to eliminate the provision which would reduce by $6,000 the amount of rent credits that are intended to offset operation and maintenance costs associated with the public restrooms; and provide $150,000 in new rent credits to partially offset unexpected costs related to improving the structural condition of Building 49, effective upon the later of Port’s execution of the First Amendment or October 1, 2025; and authorizing the Executive Director of the Port to enter into any additions, amendments or other modifications that do not materially increase obligations or liabilities of the City or Port and are necessary or advisable to complete the transactions which this Resolution contemplates and effectuate the purpose and intent of this Resolution.
How it got here
The legislation originated from the need to amend the lease agreement between the Port of San Francisco and the YMCA SF for Building 49 due to unforeseen costs and operational challenges.
The Port Commission adopted Resolution No. 23-20 authorizing the execution of Lease No. 16997 with the YMCA SF for the development and use of Building 49.
The Board of Supervisors approved the Original Lease with the YMCA SF, which included environmental findings.
The Port Commission adopted Resolution No. 24-01, which authorized execution of Amended and Restated Lease L-17134, amending the Original Lease due to unforeseen costs.
The Port Commission adopted Resolution No. 25-38, recommending a First Amendment to the lease to provide $150,000 in new rent credits and eliminate a provision reducing existing rent credits.
The Budget and Finance Committee recommended the First Amendment to the Board of Supervisors.
The Board of Supervisors adopted the First Amendment to the lease, allowing for new rent credits and adjustments to existing terms.
The Mayor approved the First Amendment to the lease with the YMCA SF.
Reconstructed from attached documents & the official record
