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Title:
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Ordinance authorizing settlement of two related lawsuits filed by CWI 2 San Francisco Hotel, L.P. against the City and County of San Francisco concerning the real property located at 600 Stockton Street, San Francisco, CA (Assessor’s Parcel Block No. 0257, Lot No. 012) (the “Subject Property”) for a stipulated assessed value of the Subject Property of $216,400,000 as of December 30, 2016, contingent upon the Assessment Appeals Board’s approval, and a refund of $495,900, plus statutory interest; the first lawsuit was filed on November 26, 2019, in San Francisco Superior Court, Case No. CGC-19-581046; entitled CWI 2 San Francisco Hotel, L.P. v. City and County of San Francisco; the second lawsuit was filed on June 18, 2020, in San Francisco Superior Court, Case No. CGC-20-584883; entitled CWI 2 San Francisco Hotel, L.P. v. City and County of San Francisco; the lawsuits involve the assessed value of the Subject Property for property tax purposes as of the December 30, 2016, purchase date and a transfer tax refund.
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