The Board of Supervisors created the Treasure Island Development Authority (the 'Authority') in 1997 to serve as the entity responsible for the reuse and development of Naval Station Treasure Island. In 2011, the Authority and Treasure Island Community Development LLC ('Developer') entered into agreements to construct specified public improvements including parks and open spaces that the Authority will own as public assets.

The Ordinance would delegate to the Treasure Island Development Authority various powers related to the acceptance of public parks and open space improvements that are a part of the development of the Treasure Island/Yerba Buena Island project.

This legislation is intended to expedite development of Treasure Island and Yerba Buena Island by delegating to the Authority powers related to the acceptance of parks and open space and structures on these areas.

The development and efficient delivery of public parks and improvements are the principal reasons for the proposed change, aiming to eliminate the need for future Board actions for each Park Improvement, thereby expediting the development of the Project and putting the improvements into public service efficiently.

The Board of Supervisors approves this ordinance, which will become effective 30 days after enactment. Enactment occurs when the Mayor signs it, the Mayor returns it unsigned, or does not sign it within ten days or the Board of Supervisors overrides the Mayor's veto.

The Authority will coordinate with the Planning Department to obtain General Plan consistency findings prior to taking approval actions associated with acceptance of Park Improvements. The Board of Supervisors delegates the power to the Authority to accept ownership of the improvements, dedicate them for public use, designate them for park/open space purposes, and take all related acceptance actions without further Board actions. This ordinance will expire five years from its effective date unless extended by the Board of Supervisors.