Summary
The city can't confirm it collected all Mission Bay lease revenue for FY 2024 because of an audit moratorium and a payment backlog. 178 leases citywide are in holdover status — some for over a decade — meaning tenants may be paying below-market rent on prime public land. Councilmembers from both parties pressed for a plan and more staffing.
At a glance
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Last discussed Apr 13, 2026.
Impact analysis
About $933,000 in deferred FY 2024 revenue was flagged (later confirmed received), and below-market holdover leases may mean millions in foregone rent for the general fund.
Tenants holding leases in long-term holdover status benefit from below-market rents.
Taxholders and park users lose out — foregone lease revenue means less money for libraries, parks, and services already squeezed by a $120 million budget deficit.
Mentions & discussions (1)
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