This project goes way above and beyond this. The developer approached our union with the intent and idea of negotiating an agreement that guaranteed good quality jobss and not just this project, but every project that they develop nationwide going forward. And from our perspective, that really drives home the level of commitment that they have to making this project exactly the kind of project that the port needs more of. The kind of project that brings not just jobs, but goodquality, livingwage jobs, to portlands, which have traditionally been the center of good Quality Living wage jobs in San Francisco. And yet, have seen those jobs eroded. Much like the warriors project a few months ago or a couple of years ago. This is a truly exceptional project that is going to go a long way to leading to the kind of jobs that keeps San Francisco affordable for workingclass people. Thank you. Thank you, mr. Louis. Next speaker, please, just come on up. Yes, thank you. My name is christen clayton
Adopted a music and cultural sustainability policy in code chapter 98 requiring city departments to undertake all means to use City Property to retain cultural and entertainment entitis in San Francisco. This policy also promotes Creative Strategies for theaters. The proposed project meets the policy directives of the administrative code 98. In this requested exemption if this requested exemption is approved the port will enter into a exclusive negotiating agreement with the partis and if the partis are able to reach an agreement on deal terms, such terms would be summarized in a term sheet and the term sheet or the proposed lease will be brought back to this board for its consideration and endorsement. Authorizing the port to enter negotiations is not an approval of the proposed project. The project still needs to be refined, through the public review process, including ceqa and design review. After the term sheet is endorsed, both the Port Commission and the board of supervisors must
A sole source waiver early on, not being able to guarantee this is the best deal moving forward. Is that it . Im sorry, one more question. The initial negotiations talked about a 1015year lease before it became a larger project. Where do you anticipate the number ofyears for this lease to look like . Typically for new development on a ground lease we would do a 66year lease. That is what is allowed under the burton act and that would be a time that would be sufficient to amortization the amount of investment here. Right. So again, even makes me more concerned about doing a full bid for such a longterm lease. Its not 10 or 15years, but a 66year lease. Thank you. Thank you. Supervisor wiener, any comments . Question for mr. Benson. I know you touched on this before, but if this were not solesourced, how would the process proceed . What would we see here . We have never done Something Like supervisor kim is suggesting. In the absence of any prospective tenant, normally for a Development P
Phone calls, social media and letters including one message from a fan who wrote im counting the minutes until our beloved Teatro Zinzanni is once again with us in San Francisco. You one more holiday season, new years, birthday or romantic night without you is one too many. Our goal in this hiatus has been to keep in touch with our audience and the community, remaining hopeful that we would see the day when we would announce our return. Now we have a plan. This unique partnership with kenwood and Teatro Zinzanni creates a unique Business Model where one hand feeds the other. Together well steer business to the surrounding community. A marriage between business and culture. A new way of art and business to flourish, im supporting the packet of letters and local San Francisco supporters. The Energy Behind this venture is palpible. Its time to return to San Francisco. Thank you. Thank you very much [ applause ] i have a quick question, how many presentations do we have on this item . Im t
Makes me more concerned about doing a full bid for such a longterm lease. Its not 10 or 15years, but a 66year lease. Thank you. Thank you. Supervisor wiener, any comments . Question for mr. Benson. I know you touched on this before, but if this were not solesourced, how would the process proceed . What would we see here . We have never done Something Like supervisor kim is suggesting. In the absence of any prospective tenant, normally for a Development Project like this, we would have a concept, say a hotel and entertainment use. Developed through the community process. Then we would do a request for qualifications and we would be looking for a Development Partner who has the experience and Financial Capacity to develop the site. And then we would go through a negotiation, where we establish fairmarket value for the sites, looking at comps and using apraisals and other similar mechanisms that are standard for a real estate negotiation. And then bring that through the public approval pr