Hope you all are having a great morning!
It was reported in the Save the Palace of Fine Arts Facebook group that the two hotel backers have dropped out of the bidding process :
"Two of the three qualifying respondents, TMG and Equity Community Builders, have now informed the Department that they will not submit final proposals as contemplated by the RFP. Their specific proposals were reliant on leveraging Federal Historic Tax Credits as part of a financing strategy. After further analysis TMG and Equity Community Builders have each independently concluded the ability to obtain federal tax credits is not sufficiently certain due to potential historic preservation requirements that could significantly limit or eliminate the windows necessary for lodging.
The Department is continuing with the RFP process with the one remaining party who qualified, SFMAP. SFMAP’s final submittal will be due on May 20, 2016. The evaluation committee and the Department will carefully analyze that proposal under the terms and conditions of the RFP to determine whether the proposal satisfies all necessary criteria and whether the Department should proceed to negotiate with SFMAP or pursue alternative options for the building."
Thanks to everyone who has contributed to the collective voice thus far, especially Kris Nangle, who started the original online petition and facebook group.
You may still join this effort by signing the original petition and joining the facebook group.
Thanks to everyone who has helped thus far and continues to work toward a plan to restore this beloved cultural icon into a haven for music/arts/eco education.