Deadbeat San Francisco Garage Asks Board to Endorse $30 Million In Federal Stimulus Loans

Now that's what I call “shovel ready.”

The nonprofit that operates the parking garage serving the de Young Museum is three years behind on its $100,000 annual rent payments owed the city. But that hasn't stopped the Music Concourse Community Partnership from requesting that the Board of Supervisors give its blessing to $30 million in loans backed by the federal American Recovery and Reinvestment Act stimulus funds.

In 2008, museum officials discovered that the garage's chief financial officer, Greg Colley, had embezzled $3.6 million. The garage has struggled ever since, gradually paying overdue bills to some contractors and vendors, leaving for last money owed the city in land rent.

“When you have a whole list of accounts receivable, you have a list of vendors, which we did, and you have to make a priority list,” said Martha Kropf, chair of the Partnership's board of directors. “And the city was very, very supportive of our work and the garage. And they know we're good for it.”

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