Real story on UCSF, taxes
The San Francisco Examiner’s article about UC San Francisco’s pending purchase of land at Mission Bay contained numerous errors, both factually and by inference. I wish to correct the record.
UCSF is a California constitutional corporation and, as such, is exempt from local property taxation. When tax-exempt entities seek to purchase property in former Redevelopment Agency areas, such as Mission Bay, The City can engage in negotiations to receive a payment in lieu of taxes, known as a PILOT agreement.
Negotiations between UCSF and The City yielded an agreement in which UCSF will make an upfront in-lieu payment of $32.1 million — $21.9 million to support infrastructure obligations in Mission Bay and $10.2 million to support the building of affordable housing in Mission Bay. This payment provides The City and the Mission Bay infrastructure developer with immediate funds for projects, instead of annual payments over the next 30 years.
UCSF’s acquisition of the Mission Bay property will enable the university to consolidate operations that are currently housed in leased space throughout The City.
Over the next few years, as UCSF vacates these spaces and the leased space returns to The City’s tax rolls, San Francisco has the potential to gain millions of dollars of new tax revenues, corresponding to $16 million in today’s dollars. This estimate was confirmed by The City’s much-respected legislative and budget analyst.
UCSF’s purchase of blocks 33-34 in Mission Bay is critical to its future, as it will enable UCSF to consolidate its operations. The City will also realize immense benefits — in sizable tax revenues, much-needed affordable housing and requisite infrastructure, and will ensure continued economic growth within the Mission Bay community.
UCSF has been integral to San Francisco for 150 years and has provided care for its citizens since the Gold Rush. As The City’s second-largest employer, UCSF contributes more than $4 billion every year in economic benefits to The City, including more than $60 million in direct sales spending and millions more in charitable health care.
These contributions are a direct extension of UCSF’s public mission and are central to the ethos of our university.
We respectfully request that the record regarding UCSF and its contributions to The City and community be set straight.
Barbara J. French
UC San Francisco vice chancellor, university relations
➤ “The ‘right fit’ for Kerr,” Sports, May 21
Racial bias with Warriors?
It’s easy for Warriors fans to be outraged by the words of Los Angeles Clippers owner Donald Sterling, but let’s take a look at our own backyard.
The Warriors’ owners hire a black coach who is very popular with players and fans and leads the team to its greatest success in 20 years. He is paid $2 million a year for a three-year contract, and he is fired without any specific explanation.
He is then replaced by a white man with absolutely no coaching experience who gets a five-year contract at $5 million a year. As it says in the Bible, why do you see the speck that is in your brother’s eye, but not the beam that is in your own?