SFMTA land deal is far from a ‘fumble’

The characterizations in your article regarding the San Francisco Municipal Transportation Agency’s proposed lease of 2650 Bayshore Blvd. (“S.F. revisits its fumbled land deal,” Friday) were unfortunately both inaccurate and misleading.  

For years, the SFMTA has been looking for alternative sites to replace the 13 acres at Pier 70 that will no longer be available due to the Port of San Francisco’s long-term plans to redevelop that property and that provide inadequate conditions for employees and the public that we serve.

There are very few properties available in, or close to, San Francisco that meet the size, zoning, price, transit accessibility and other conditions needed for towing operations, and this site is the best option for San Francisco.
The site was not on the market when it was purchased a few years ago via a quick-closing cash and land-swap deal the likes of which no public agency could possibly compete with. There was no fumble of this deal, as your headline suggests.

We have completed significant due diligence, including more than 14 months of negotiations, environmental analyses and approvals through the city of Daly City and the SFMTA board of directors.

This lease term provides a sustainable solution for these needed functions (unlike the short-term MOU for Pier 70 that includes a one-year termination option).

While your article called the lease “costly,” an independent appraisal indicates the proposed cost is slightly less than the market rental value for the property. The proposed lease is a good deal that allows the agency to move forward, while taking the best approach possible for The City.

Ed Reiskin
Director of Transportation, SFMTA
San Francisco

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