The LGBT Center in San Francisco. The Center
The pricey new building at Market and Octavia still owes about $3.2 million in debt, but a restructuring of their mortgage made possible by the Supes' loan will cut their repayments by about $200,000.
Mayor Gavin Newsom opposed the transfer of funds, saying, "I can't bail everyone out."
The truth was more nuanced: the money was requested by the center's bank; in a smaller amount than was initially reported; it was to be a loan, not a grant; and in the long run it would wind up saving money.
And with the loan now making its way through the Board of Supes, it's looking likelier that the center will find the tiny bit of debt relief it sought.