City Hall
1 Dr. Carlton B. Goodlett
Place
San Francisco, CA 94102-
4689
City and County of San Francisco
Legislation Details
File #:
Version:
1
240825
Name:
Settlement of Lawsuits - Park Hotels & Resorts Inc.
- Stipulated Assessed Value of $93,237,202 and
Refund of $785,531 Plus Statutory Interest
Status:
Type:
Ordinance
Passed
File created:
In control:
9/3/2024
Clerk of the Board
On agenda:
Final action:
9/3/2024
11/14/2024
Enactment date:
11/14/2024
261-24
Enactment #:
Title:
Ordinance authorizing settlement of two related lawsuits filed by Park Hotels & Resorts Inc. et al.
against the City and County of San Francisco concerning the real property located at 542-550 Geary
Street, San Francisco, CA (Assessor’s Parcel Block No. 0305, Lot No. 008 and Assessor’s Parcel
Block No. 0305, Lot No. 009) (the “Subject Property”) for a stipulated assessed value of $93,237,202
as of September 18, 2019, contingent upon the Assessment Appeals Board’s approval, and a refund
of $785,531 plus statutory interest; the first lawsuit was filed on August 18, 2023, in San Francisco
Superior Court, Case No. CGC-23-608476; entitled Park Hotels & Resorts Inc., et al. v. City and
County of San Francisco; the second lawsuit was filed on June 27, 2023, in San Francisco Superior
Court, Case No. CGC-23-607309; entitled Park Hotels & Resorts Inc. v. City and County of San
Francisco, et al.; the lawsuits involve the assessed value of the Subject Property for property tax
purposes as of the September 18, 2019 change in ownership date and a transfer tax refund.
Sponsors:
Attachments:
1. Leg Ver1, 2. Comm Pkt 101724, 3. Board Pkt 102924, 4. Board Pkt 110524, 5. Leg Final
Action By
Date
Action
Result
Ver.
RECEIVED FROM DEPARTMENT
Clerk of the Board
8/14/2024
1
RECEIVED AND ASSIGNED
President
9/3/2024
1
RECOMMENDED..
Government Audit and Oversight
Committee
10/17/2024
1
Pass
PASSED, ON FIRST READING
Board of Supervisors
10/29/2024
1
Pass
FINALLY PASSED
Board of Supervisors
11/5/2024
1
Pass
APPROVED
Mayor
11/14/2024
1