MEMORANDUMMarch 5th, 2020
FiledMarch 5th, 2020L-14414 for the Pier 24 Annex will be resolved; (ii) Port and PFF will enter into a new lease for the Pier 24 Annex for a term of approximately four (4) years; (iii) the new lease will allow storage, curation and display of a photographic collection and require PFF to continue to provide free public access to view the collection and will allow for rent credits of up to $5.5 million; (iv) the new lease is subject to approval by the Board of Supervisors; (v) the parties will release each other from potential claims in connection with the Settlement Agreement; and (vi) the Settlement Agreement and new lease include other terms and conditions as set forth in the documents on file with the Port Commission secretary