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Title:
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Ordinance authorizing settlement of the lawsuit filed by Ridgegate Apartments, Inc. against the City and County of San Francisco concerning the real property located at 524 Howard Street, San Francisco, CA (Assessor’s Parcel Block No. 3721, Lot No. 013) (the “Subject Property”) for: 1) a stipulated assessed value of the Subject Property for property tax purposes of $65,000,000 as of January 1, 2021, for the Fiscal Year (FY) 2021-2022, or 2) if the Assessment Appeals Board does not accept that stipulated assessed value, agreement that the Assessment Appeals Board hold a new assessment appeal hearing to determine the assessed value of the Subject Property as of January 1, 2021, for the FY2021-2022; the lawsuit was filed on April 12, 2024, in San Francisco Superior Court, Case No. CGC-24-613885; entitled Ridgegate Apartments, Inc. vs. City and County of San Francisco; the lawsuit involves the assessed value of the Subject Property for property tax purposes as of January 1, 2021, for the FY2021-2022.
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