Port lease coming under scrutiny

IDEO LLC has occupied 12,360 square feet of office space at the Pier 26 Annex on The Embarcadero for more than 15 years, and wants to expand to occupy an additional 7,074 square feet for workshop and storage space that the company would renovate at its own expense, estimated at $900,000, according to a report for the Board of Supervisors by Budget Analyst Harvey Rose.

The existing lease expired back in 2006 and the Port has since been on a month-to-month lease with the company. IDEO is currently paying a base rent of $31,765 which under the proposed lease would increase to $40,271 per month with annual 3 percent increases. The Board of Supervisors Budget and Finance Committee will vote whether to approve the lease on Wednesday. The committee meets at 11 a.m. at City Hall in Room 250.

All told, the company would pay the Port $2.5 million during the fist five year lease renewal agreement.

Expect the committee to ask the Port tough questions, such as why the renting of the space was not competitively bid and why the lease was so long on a month-to-month basis. The Port has come under pressure by the board in recent years to cease month-to-month leases.

jsabatini@sfexaminer.com

Bay Area NewsGovernment & PoliticsNEPPoliticsUnder the Dome

Just Posted

A large crack winds its way up a sidewalk along China Basin Street in Mission Bay on Friday, Sept. 24, 2021. (Kevin N. Hume/The Examiner)
San Francisco’s sinking sidewalks: Is climate change to blame?

‘In the last couple months, it’s been a noticeable change’

For years, Facebook employees have identified serious harms and proposed potential fixes. CEO Mark Zuckerberg and COO Sheryl Sandberg have rejected the remedies, causing whisteblowers to multiple. (Eric Thayer/The New York Times)
Facebook’s problems at the top: Social media giant is not listening to whistleblowers

Whistleblowers multiply, but Zuckerberg and Sandberg don’t heed their warnings

Niners quarterback Jimmy Garoppolo led a late-game comeback against the Packers, but San Francisco lost, 30-28, on a late field goal. (Courtesy of San Francisco 49ers)
The Packers beat the Niners in a heartbreaker: Don’t panic

San Francisco is no better and no worse than you thought they were.

A new ruling will thwart the growth of solar installation companies like Luminalt, which was founded in an Outer Sunset garage and is majority woman owned. (Philip Cheung, New York Times)
A threat to California’s solar future and diverse employment pathways

A new ruling creates barriers to entering the clean energy workforce

Federal officials have endorsed booster shots of the Pfizer-BioNTech coronavirus vaccine for many fully inoculated Americans. (Kevin Mohatt/New York Times)
When Californians will get COVID-19 boosters

Eligibility currently limited to those inoculated with Pfizer vaccine

Most Read