America's Cup Proposal Fleshed Out
|September 28, 2010||Posted by jamie under America's Cup||
According to an article on SFGate.com by John Coté, the City has promised to raise $270 million to help ramp up needed infrastructure and other needs if selected to host America’s Cup along the SoMa waterfront.
The article also included a tentative timeline:
October 2010 – October 2011: Complete studies and documentation for environmental review and permitting for the cup. During the same period, the Port of San Francisco and BMW Oracle Racing’s business arm will finalize the terms of a 66-year or longer lease for waterfront properties. The lease will allow for America’s Cup events and long term development rights on Piers 30-32, Pier 50 and sea wall lot 330.
Date unknown, 2011: Pre-regatta race that will use Pier 80 and possibly other facilities.
November 2011: Present long-term lease, environmental review documentation and permits for approval.
December 2011 – December 2012: Complete infrastructure improvements, including $150 million in repair work for piers.
Date unknown, 2012: Pre-regatta race that will use Pier 80 and possibly other facilities.
Spring 2013: America’s Cup is held