Less costly overhaul plans, and shorter-term leases, were unveiled Tuesday for a handful of San Francisco’s piers that will be used for the America’s Cup.
The $110 million development deal to restore crumbling piers and give long-term development rights to the regatta’s event authority had fallen apart in February. The new agreement, which will be discussed by the Board of Supervisors next week, stemmed from those failed negotiations.
“We learned a lot in the last year,” said Mike Martin of the Mayor’s Office of Economic and Workforce Development.
The America’s Cup Event Authority will now receive short-term leases. Some piers can be occupied as early as April — once the agreement is approved by the Port Commission — and must be vacated six months after the event, which ends in 2013.
The deal also provides for updates to several of the piers, including $8 million worth of improvements to Piers 30-32. The Port of San Francisco hopes to have those projects completed in time for the World Series in August. If work is done, team bases will be located at Piers 30-32 instead of the originally planned Pier 80.
Another $10 million worth of improvements are planned at Piers 19, 27 and 29, which will be funded by the port.
Though the deal was praised by the Port and city officials, the event authority had a lukewarm response.
“It’s an arrangement we can live with, but not what we expected,” America’s Cup leaders said in a statement. “While far from ideal, we’re just pleased to be done so we can move away from deal points and start focusing on the races and the competition between the teams.”
If the agreement is approved by the Board of Supervisors and the Port Commission, work on Piers 30-32 is slated to begin by the end of April.