(a) Background. On July 16, 2013, the Successor Agency to the Redevelopment Agency of the City and County of San Francisco, commonly known as the Office of Community Investment and Infrastructure (“OCII”), and 706 Mission Street Co., LLC (the “Developer”) entered an Agreement for Purchase and Sale of Real Estate (the “Purchase and Sale Agreement”). The Mexican Museum was named as a third-party beneficiary in the Purchase and Sale Agreement.
The Purchase and Sale Agreement requires the Developer to pay to OCII an open space fee as a one-time payment that the Developer has already paid and also as subsequent annual payments. These open space fee payments may be used only for general operations and maintenance, cultural operations, and capital expenditures in SOMA Open Spaces. The Purchase and Sale Agreement requires OCII to allocate at least 50% of that fee to the Yerba Buena Gardens Conservancy, and allows OCII to allocate the remaining 50% to other entities including the City. For the purpose of this Section 10.100-7, “SOMA Open Spaces” shall mean the Yerba Buena Gardens and any public open spaces owned by the City in the area bounded by Market Street to the north, The Embarcadero to the east, King Street to the south, and South Van Ness Avenue and Division Street to the west.
The Purchase and Sale Agreement also requires the Developer to pay OCII a one-time payment called the Developer Payment. This payment may be used only for general operations and maintenance, cultural operations, and capital expenditures in the SOMA Open Spaces.
Finally, the Purchase and Sale Agreement requires the Developer to make a payment called the Transfer Payment to OCII to fund public benefits within the South of Market Area, including affordable housing, rent subsidies to prevent homelessness, housing/eviction counseling, small business and nonprofit rental assistance, and services to youth and seniors.
The Purchase and Sale Agreement provides that OCII may enter contracts or grants with the City to expend each of these payments. And it provides that OCII may establish a community review process and work with existing community advisory groups to advise OCII on these expenditures.
(b) Purpose of Fund. The purpose of the 706 Mission Fund established in this Section 10.100-7
is to ensure that payments from OCII received by the Recreation and Park Department (the “Department”) and the Mayor’s Office of Housing and Community Development (“MOHCD”) under the Purchase and Sale Agreement are appropriately allocated and expended to serve the needs of the neighboring communities following a community review process. Impacted stakeholders and community members living and working in the immediate vicinity of 706 Mission Street should have a voice in how the City expends funds that the City receives from OCII under the Purchase and Sale Agreement.
(c) Establishment of Fund; Subsidiary Funds. The 706 Mission Fund (the “Fund”) is established as a category four fund to receive any monies received by the City under the Purchase and Sale Agreement. The monies in the Fund shall be held in two separate subsidiary funds: The 706 Mission Open Space Fund shall include monies from the open space fee payments and the Developer Payment, and the 706 Mission Community Development Fund shall include monies from the Transfer Payment.
(d) Uses of the Fund.
(1) 706 Mission Open Space Fund. Monies in the 706 Mission Open Space Fund shall be used at the direction of the Department for general operations and maintenance, cultural operations, and capital expenditures in the SOMA Open Spaces.
(2) 706 Mission Community Development Fund. Monies in the 706 Mission Community Development Fund shall be used at the direction of MOHCD to fund public benefits within the South of Market Area, including affordable housing, rent subsidies to prevent homelessness, housing/eviction counseling, rental assistance to small business and nonprofit organizations, and services to youth and seniors.
(e) Conditions on Uses of the Fund.
(1) 706 Mission Open Space Fund. The Department may expend monies in the 706 Mission Open Space Fund only after the SOMA Community Stabilization Fund Community Advisory Committee has held at least one hearing to make recommendations as provided in Section 5.27-1(d) of this Code. The Department shall expend a portion of the monies in the 706 Mission Open Space Fund by entering into one or more grant agreements following the process set forth in Chapter 21G of this Code. By September 30 of each year, the Department shall submit a report to the Recreation and Park Commission and the Board of Supervisors summarizing the past and anticipated future expenditures from this Fund.
(2) 706 Mission Community Development Fund. MOHCD may expend monies in the 706 Mission Community Development Fund only after the SOMA Community Stabilization Fund Community Advisory Committee has held at least one hearing to advise on expenditure of said monies as provided in Section 5.27-1(a)(5) of this Code. MOHCD shall expend a portion of the monies in the Fund by entering into one or more grant agreements following the process set forth in Chapter 21G of this Code. By September 30 of each year, MOHCD shall submit a report to the Board of Supervisors summarizing the past and anticipated expenditures under the Fund.
(Added by Ord. 256-22, File No. 221125, App. 12/16/2022, Eff. 1/16/2023)
(Former Sec. 10.100-7 added by Ord. 316-00, File No. 001911, App. 12/28/2000; amended by Ord. 7-03, File No. 021804, App. 1/21/2003)
Editor's Note:
Former Sec. 10.100-7 ("Administrative Services Mandatory Refuse Collection Service Fund") expired by operation of its sunset clause on 6/30/2003.
Former Sec. 10.100-7 ("Administrative Services Mandatory Refuse Collection Service Fund") expired by operation of its sunset clause on 6/30/2003.