Trust spokesman Ron Sonenshine says the seven members of thePresidio Trust delayed their vote last month to accommodate criticswho asked for more time, but it was clear on July 11 that the panelviewed the Final Presidio Trust Management Plan favorably. He saidhe could not recall a similar vote-by-fax, but many people are notavailable to meet in the summer and the trust has already held itsrequired two public meetings this year.

Created by Congress in 1996, the Presidio Trust is charged withpreserving and enhancing the 1,491-acre former U.S. Army base'snatural, historic and scenic resources while making it financiallyself-sufficient by 2013. Their plan calls for 100 acres ofadditional open space and, if the market is there, a hotel atCrissy Field.

During a recent San Francisco Board of Supervisors hearing,however, environmental critics said they remain concerned thatCrissy Marsh has shrunk to about 20 acres from its original 37 orso, and current plans also do not call for the Presidio operationto be self-sufficient in sewage treatment. Others charged that ano-tax zone on the property will drain business from nearby citycompanies. Some urged the city to consider a lawsuit to halt theplan.

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.