Legacy Foundation for Bayview Hunters Point
The Organization’s Mission
The Legacy Foundation’s main purpose is to ensure that a designated portion of net proceeds from the Hunters Point Shipyard development will be used and invested for the benefit of the Bayview Hunters Point community. The foundation is charged with making recommendations that guarantee the BVHP area and not just a few individuals profit from the funds which are intended to be used to (a) benefit low-and moderate income families, (b) eliminate blight or (c) meet other urgent community development needs of the BVHP area. The Legacy Foundation is also tasked with determining suitable uses for the six acre Community Facilities Parcels which will be set aside for the enhancement of the overall quality of life or residents and the Shipyard an in the greater BVHP area.
Background and History
The Phase 1 DDA between the Agency and the Developer provides for a revenue sharing plan under which the net proceeds from land sales will be shared between the Agency and the Developer. The revenue sharing plan was altered under the Fifths Amendment to the Phase 1 DDA to include a $1 million advance payment. Under Attachment 23 of the Phase 1 DDA , the Agency was bound to deposit its share of the net land proceeds in a separate account, the Community Benefits Fund account, and use the funds for enhanced community benefits related to the Shipyard and for the greater BVHP community. The DDA also requires the Agency to collaborate with the BVHP community to form an independent quasi public entity that will be responsible for advising the Commission on the distribution of the Phase 1 & Phase 2 Community Benefit Funds.
Planning work pertaining to the formation of a QPE began in the spring of 2005. In the spring of 2009, the Initial Board members were appointed to include two Shipyard CAC members, two Bayview Project Area Committee members, one Agency member, one Mayor’s office members and one District 10 Supervisor’s office member. The QPE has Since evolved into the Legacy Foundation for the Bayview Hunters Point and has formulated a Strategic Plan which contains descriptions of investment goals and strategies that guide the work of the Legacy Foundation.