Mayor Sanders Announces Progress at City's Real Estate Assets Department
Mayor Jerry Sanders announced yesterday substantial progress at the City's Real Estate Assets Department (READ), which just one year ago had lost the confidence of the public after news reports detailed mismanagement of the City's property inventory.
The process of improving READ included a voluntary "time out" on new real estate transactions, which had put a hold on the renewal of the Mission Bay Aquatic Center lease.
It's unclear when the City will be ready to re-approach consideration of the MBAC lease renewal. The next step in the process will be a public forum at a City Park and Recreation Board meeting sometime in spring 2007 .
The MBAC lease has already been recommended for approval by the City staff, and the City Council voted to conduct exclusive negotiations with the Universities for the property in 1999 subsequent to the recommendation by the Mission Bay Park Committee in April to put the site out for proposals.
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