The Potrero Yard Modernization Project is proposing to be on the agenda for the March 24, 2026 Board of Supervisors meeting.
The Board of Supervisors could consider legislation to execute the Infrastructure Facility Project Agreement for design, construction, and financing of the Potrero Yard Modernization Project and a Lease Development and Disposition Agreement (LDDA) for development of affordable housing as part of the Potrero Yard Modernization Project.
Legislation Details:
- File #: 260185
- Name: Project Agreement - PRG-Potrero Properties LLC - Potrero Yard Modernization Project - 2500 Mariposa Street - $1,396,433,595 - Approving Bond Issuance - $900,000,000
- Title: Resolution approving Contract No. 1334, Infrastructure Facility Project Agreement (“Project Agreement”), with PRG - Potrero Properties LLC, for the design, construction, and financing of a bus storage and maintenance facility for the Potrero Yard Modernization Project, which Project Agreement provides for 1) a 30-year term commencing after substantial completion, scheduled for 2030, and expected to end in 2060, 2) two milestone payments of $65,000,000 at or around financial close and $250,000,000 during construction, 3) a $5,000,000 development fee payable after substantial completion, 4) annual availability payments commencing approximately one year after anticipated substantial completion and continuing through the end of the term, projected to start at approximately $33,000,000 with an estimated cumulative total of approximately $980,000,000 5) potential delay event or termination compensation, all as provided in the Project Agreement and for an estimated not to exceed amount of $1,396,433,595 expressed in nominal dollars and subject to adjustment on the terms of the Project Agreement; affirming the Planning Department’s determination under the California Environmental Quality Act; and approving, for purposes of Section 147(f) of the Internal Revenue Code of 1986, as amended, the issuance by the California Municipal Finance Authority of tax-exempt obligations in an aggregate principal amount not to exceed $900,000,000 to finance the costs of the Project, and making related findings and determinations related thereto.
March 24, 2026 (full Board meeting calendar) |
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LANGUAGE INTERPRETERS: Language services are available in Spanish, Chinese and Filipino if requests are made at least 48 hours in advance of the meeting, to help ensure availability. For more information or to request services: Contact Wilson Ng at (415) 554-5184.
傳譯服務: 所有常規及特別市參事會會議和常務委員會會議將提供西班牙文, 中文以及菲律賓文的傳譯服務, 但必須 在會議前最少48小時作出請求, 以確保能獲取到傳譯服務. 將因應請求提供交替傳譯服務, 以便公眾向有關政府機構 發表意見. 如需更多資訊或請求有關服務, 請致電（415）554-5184聯絡我們.
AVISO EN ESPAÑOL: Los servicios de idiomas están disponibles en español, chino, y filipino en todas las reunions regulares y reuniones especiales de la Junta, de los Comités, si se solicita por lo menos 48 horas antes de la reunión para ayudar a garantizar su disponibilidad. Para más información o solicitar servicios, por favor contactar a (415) 554-5184.
PAUNAWA: Mayroong serbisyong pang-wika sa Espanyol, Tsino at Pilipino para sa lahat ng mga regular at espesyal na pagpupulong ng Board, at Komite ng Board. Sa kasalukuyan, mayroong serbisyo sa wikang Pilipino na maaaring hilingin, 48 oras (o mas maaga) bago ng pagpupulong upang matiyak na matutugunan ang inyong kahilingan. Para sa karagdagang impormasyon o para humiling ng serbisyo pang-wika, tawagan lamang ang (415) 554-5184.