Fire Station #18

Fire Station 18 stands at 1933 32nd Avenue in the Sunset, on a 15,000-square-foot lot. Two pieces of city finance run through it. The first is straightforward: in November 1992 voters approved Proposition C, authorising $40.8 million of fire protection general obligation bonds, and the Budget Committee later released $1,297,000 of that money to fund the station's construction contract. The second is stranger, and the property register hints at it in a single line — "asset transfer from 911 Communication System Bond Sale". The Finance Committee's papers explain what that means. To cover the annual principal and interest due on lease revenue bonds for the citywide emergency radio system, the city put two of its properties into an asset-transfer lease financing: the Mental Health Skilled Nursing Center at 887 Potrero Avenue, and this fire station. The maximum annual base rental the city would pay across the two was capped at $5,500,000 for a term not exceeding thirty years, with the bonds expected to be repaid over twenty. The city was required to insure both buildings — and had the station burned or been vandalised, the papers note, the insurance proceeds could either repair it or buy out the lease.

Archive coverage for this place is limited — only 4 matched documents so far, so this summary stays short rather than padded.