Read why the lease at the Old Mint in San Francisco was terminated
- Published: Mar 27, 2015, 9 AM
The City of San Francisco notifed the San Francisco Museum and Historical Society that it was terminating the historical society's lease of the Old Mint building in a March 17 letter from San Francisco Director of Property John Updike.
Updike wrote that the city terminated the lease with the historical society, effective immediately, due to “lack of progress” on the nonprofit's plans to turn the Old Mint into a San Francisco history museum that would include an area specific to American coinage and the Gold Rush.
Though the lease has been terminated, Updike's letter states the historical society has until Aug. 1 to vacate the building. A dramatic arts production company will use the facility on a short-term basis beginning Sept. 1.
In the letter, Updike commends the historical society for opening the building up to events and rentals and providing the public “a glimpse of what this treasure can and should become."
“Unfortunately,” he writes, "the vision described in the agreements between the City and SFMHS for the Old Mint—first in 2003 and then in 2006—contemplated a number of critical milestones in improving this community asset, and SFMHS has not been able to meet those milestones or implement this vision."
Here's the full letter, as provided to Coin World by Updike's office: