This meeting will come to order.

Welcome to the June 26th meeting of the budget and finance committee.

I'm Supervisor Connie Chan, Chair of the Committee.

I'm joined by Vice Chair Raphael Mendelman and Supervisor Mayor Namagar.

Today we also have Supervisor Shaman Walton as well as Board President joining us.

And our clerk is Brent Halipa.

I would like to thank uh Corwin Cooley from SFGov TV for broadcasting this meeting.

Mr.

Clerk, do you have any announcement?

Thank you, Madam Chair.

Just a friendly reminder to those in attendance to please make sure to silence all cell phones and electronic devices to prevent interruptions to our proceedings.

Should you have any documents to be included as part of the file that should be submitted to myself, the clerk, public comment will be taken on each item on this agenda.

When your item of interest comes up in public comment that's called, please line up to speak on the west side of the chamber to your right, my left along those curtains.

And while not required to provide public comment, we do invite you to fill out a comment card and leave them on the trade by the television to your left and by the doors if you wish to be accurately recorded for the minutes.

Alternatively, you may submit public comment in writing in either of the following ways.

Email them to myself, the budget and finance committee clerk at B-R-En T dot J A L I P A Hat S F O V dot or G.

If you submit public comment via email, it will be forwarded to the supervisors and also included as part of the official file.

He may also send your written comments via U.S.

Postal Service or Office and City Hall.

One, Dr.

Carlton, be got the place room 244, San Francisco, California 94102.

And again, silence all cell phones.

And the items acted upon today are expected to appear on the Board of Supervisors' agenda of July 2nd, unless otherwise stated.

Madam Chair.

Thank you, Mr.

Clerk.

And with that, and um we have budget and legislative analyst report for items four through six on today's agenda.

And so for dose items, we will have the department's presentation first, followed by the budget and legislative analysts, then we will take questions and public comments.

So with that, Mr.

Clerk, please call item number one.

Yes, item number one is a resolution affirming the planning director's uh approval of an assignment of assumption agreement between California Barrel Company LLC and the regents of the University of California on behalf of its San Francisco campus, pursuant to which UCSF will assume a portion of developer's right, title, and interest in hand two the development agreement between the city and developer for the Petrero Power Station project with respect to block two of the project, approving a waiver of liability by the city, acting by and through its planning department for the benefit of developer, uh pursuant to which the city will waive and release any claims made for action subsequent to execution of the waiver against the developer in connection with developer's indemnification obligations in section uh 4.10 of the development agreement with respect to block two of the project and adopting findings under CEQA.

Madam Chair.

Thank you.

And we have Office Office of Economic and Workforce Development here.

Thank you, Madam Chair.

Good morning, members of the committee.

Uh John Lau with uh OEWD staff.

Um here I'll be brief.

Uh I know it's been a busy day, busy week, busy month for the committee.

Uh so I have no slides, uh, but happy to do, of course, spend whatever time you you would like on inquiries here today with a matter related to the power station development.

You'll recall a large mixed use development on the city's central waterfront.

Uh it's been before you in different uh shapes and flavors uh since its initial uh adoption in spring of 2020.

The matter today has to do exclusively with block two within that um approved development scheme.

Uh it's a very exciting opportunity.

Pardon me.

The um people may have heard about media reports earlier this year or news uh related to uh planning commission hearing just last week, but uh the uh potential uh occupancy and use of that block by the University of California in San Francisco specifically uh for a cancer uh uh uh treatment outpatient basis clinic as well as associated uh research functions and in particular would house a proton therapy uh uh center, which is uh a technology uh cutting edge uh uh used to fight cancer.

Um we have very few of these facilities in the Western United States.

So this was uh important for the city and the region, frankly, uh as part of um the city's uh caregiving uh landscape.

Um so the specific resolution before you today is related to that block to potential use.

Uh and thank you for Supervisor Walden for his co-sponsor or his sponsorship of this matter.

Um you will recall that whenever OEWD is in front of policymakers talking about a new development agreement project, we always say that the obligations are tied to the land, and that it's not just the developer that we are entering the contract into, but by virtue of those agreements, uh any new entity that comes into ownership uh of a portion or all of the property would also uh inherit those obligations and obviously the associated community benefits are at the top of most people's mind when we talk about that.

So the assignment and assumption agreement is a key vehicle that the city uses to ensure that that uh transfer of obligation happens.

Um and it is uh California barrel companies uh the owner of uh the uh power station development uh right to enter into private agreements uh to transfer portions or all of its property, which it is proposing to do on block two with the regents of California.

Um the reason we're here today, and that typically happens simply the planning director will sign off on that.

This particular assignment and assumption does differ uh in in uh material, but we are proposing minor way from the standard agreements in that uh a piece of the indemnity provision uh given UCSF's um role as uh entity of the state and its special uh uh status given by this the state of California's constitution is not subject to local land use requirements and other local laws.

Um so in an effort to uh keep them part of this development agreement um and and and obviously the use itself, which we want to encourage.

Um the planning uh director is comfortable with with signing an assignment and assumption agreement that makes uh uh we feel what is a minor modification to the indemnity provision, but it is material, and hence um he he has he's seeking affirmation of his decision to sign that uh and that's what's in front of you today.

Um I I know that's a particular technical component, which I can talk more about, but but that is it in a nutshell, supervisors.

Thank you.

I don't see any name on the roster to see um uh no questions.