Port Asks County to Use Eminent Domain Authority

SAN FRANCISCO-The San Francisco Port Commission late last week voted to ask the county Board of Supervisors to use its power of eminent domain to move the World Trade Club out of the historic waterfront Ferry Building en route to a three-year, $70 million renovation of the century-old structure.

The World Trade Club, formed to promote international trade, occupies 30,000 sf at the Ferry Building in a combination of long-term and month-to-month leases, the largest of which runs until 2004. The port had given the prime tenant until noon Thursday to accept the city’s offer of $2.3 million to move out early. WTC did not accept, but rather countered by asking for $3 million cash, up to $2 million in low-interest financing for relocation and free rent from New Year’s Day 2001 until termination of the leases.

If a deal is worked out between WTC and the port before the Board of Supervisors take up the port’s request Nov. 20, post officials say the resolution can be rescinded.