Loose lips sink ships. That was the lesson city leaders said should be learned from the sudden breakdown of a massive real estate deal tied to the America’s Cup yacht race.The America’s Cup Event Authority was set to put up long-sought money to fix problematic piers in exchange for lucrative long-term waterfront development rights, but Mayor Ed Lee and race officials announced Monday that the agreement would be greatly “consolidated” to as little as one-tenth of the original scope.
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The America’s Cup yacht race is still coming to San Francisco, but a related $111 million deal to fix some of San Francisco’s rotting piers was cast adrift Monday.The regatta’s event authority, led by billionaire and cup defender Larry Ellison, was set to rebuild the piers for a mix of lucrative development rights, long-term leases and outright ownership of waterfront property. But the heart of that agreement — the subject of exhaustive negotiations in recent weeks — was abruptly gutted after talks stalled over the weekend.
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A proposed citywide 1 percent art fee on San Francisco development was scaled back Monday to address developers’ concerns, but public art fans were none too happy.For 25 years, San Francisco has required downtown developments in excess of 25,000 square feet to spend 1 percent of their construction budget on onsite art.
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After just three weeks on the job, the Planning Commission’s newest and youngest member is enjoying a quick rise to civic prominence after being appointed Thursday to serve as panel vice president.Cindy Wu — a planner and outreach specialist connected to the increasingly influential Chinatown Community Development Center and its powerful consultant, Rose Pak — was unanimously confirmed as the new commissioner earlier this month after being appointed by Board of Supervisors President David Chiu.
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The owners of the Gold Dust Lounge are suing their landlord, charging Handlery Hotels with deception, breach of contract and elder abuse after the company evicted the storied Union Square drinking establishment.In a civil complaint, filed in San Francisco Superior Court Thursday, Gold Dust’s lawyers reject the typically staid style of legal paperwork. Using florid and emotional prose, the Burlingame-based attorneys of Cotchett, Pitre & McCarthy detail alleged injustices perpetrated against the elderly Bovis brothers, who have owned the bar since 1966.
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A once-threatened vintage Coca-Cola billboard painted on the side of a Bernal Heights home was cleared for restoration Thursday by The City’s Planning Commission.The 15-by-7-foot 1930s-era sign — featuring the soft drink’s logo and a silhouetted woman drinking from a glass bottle — became the subject of debate last year when a local resident complained to the commission that it violated San Francisco’s billboard regulations.
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A second look at the complex development deal that would bring the America’s Cup yacht race to San Francisco yielded a few key changes to the agreement Wednesday.Board of Supervisors President David Chiu announced that Pier 29 – a contentious part of the deal involving development of prime property near Telegraph Hill – has been taken out of the agreement. What will take its place is undetermined, but could include an alternative pier or a cash payment of $12.3 million, plus inflation, by the Port of San Francisco.
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The value of the tax break that apparently kept the social gaming company Zynga from fleeing San Francisco for friendlier business environs could have exceeded $6 million.Zynga is expected to receive that benefit next week when it files its payroll taxes and exercises a tax exemption created to woo tech companies.
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Battle lines solidified Wednesday over the vast development deal between The City and event planners trying to bring the America’s Cup yacht race to San Francisco over the next two years.As currently structured, the pact would require race officials to finance repairs to some of San Francisco’s long-crumbling piers in exchange for prime property to build condominiums, plus lucrative 66-year waterfront development and lease rights to publicly owned land.
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Like the resurgent football squad that advanced to the NFC Championship last month, 49ers team officials are racking up wins in their bid for a new Santa Clara stadium.The Santa Clara Stadium Authority voted 5-1 Tuesday to approve a contract for work on the 68,000-seat facility, set to begin this summer. If the schedule pans out, the Niners will play only two more seasons at Candlestick Park before leaving in 2014. Earlier announcements had the 49ers moving in 2015.
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