Resolution approving a purchase and sale agreement by and between the City and County of San Francisco and Lendlease Development, Inc. for the sale of City-owned property located at 30 Van Ness Avenue for $70,000,000; including a City lease-back at an annual rent expense of $4,500,000 increasing by 3% per year after each year of the initial period and at the beginning of each extension option exercised, if any, for a period of not more than three years in the initial term, with two one-year options to extend; affirming the Planning Department’s determination under the California Environmental Quality Act; adopting findings that the sale is consistent with the General Plan, and the eight priority policies of Planning Code, Section 101.1; and urging the Mayor’s Office of Housing and Community Development and the Planning Department to explore certain development strategies relating to affordable housing at the site in connection with any future development.
What this record is
- Amount
- $70.0M
- Runs until
- February 28, 2020 already ended date calculated from a contract term stated in the record, not quoted directly
- Type
- purchase
- Field
- Real estate
real estate contracts in CA that end within a year →
Governments publish the end date in the award. That date is when the
work goes back out to bid, and it is usually stated years ahead.
Read automatically from the title of the official record. The source document below is authoritative.
- Committee
- Clerk of the Board
- Introduced
- February 28, 2017
- Passed
- March 30, 2017
- Enacted
- March 30, 2017
- Enactment no.
- 095-17
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