This resolution seeks to update the lease agreement for the San Francisco Wholesale Produce Market to allow for additional parcel leases and secure private construction loans. It also includes environmental and planning findings to ensure compliance with local regulations.
Resolution approving and authorizing the Director of Property to amend and restate the current lease for the San Francisco Wholesale Produce Market (Amended and Restated Lease), located near 2095 Jerrold Avenue, with the San Francisco Market Corporation, including authorizing separate parcel leases as needed for real estate security to obtain one or more private construction loans; adopting findings pursuant to the California Environmental Quality Act; adopting findings that the contemplated transactions are consistent with the General Plan, and the eight priority policies of the Planning Code, Section 101.1, and take certain actions in furtherance of this Resolution and the Amended and Restated Lease, as defined herein.
How it got here
The legislation originated from the need to amend the lease for the San Francisco Wholesale Produce Market to facilitate financing for its expansion and improvements.
Voters approved a proposition establishing a municipal market, leading to the creation of the San Francisco Wholesale Produce Market.
The Board approved a new long-term lease with the San Francisco Market Corporation to ensure the continued operation and improvement of the Produce Market, as per Resolution No. 280-12.
An Amended and Restated Lease was executed to provide for a Separate Parcel Lease structure, allowing for private financing for the Produce Market's expansion.
The Planning Department issued a Second Addendum confirming that the amendments to the lease would not result in new environmental impacts, as documented in File No. 220900.
A resolution was introduced to amend and restate the lease for the San Francisco Wholesale Produce Market, authorizing the Director of Property to take necessary actions for financing.
Reconstructed from attached documents & the official record
This resolution allows the Director of Property to update the lease for the San Francisco Wholesale Produce Market and to create additional parcel leases to secure funding for construction loans. It also confirms that these actions comply with environmental regulations and city planning policies.