Posts Tagged ‘Central Market Cultural District Loan Fund’

How Mayor Ed Lee “Destroyed” Jobs at Sixth and Market – How Pearl’s Deluxe Burgers Didn’t Really Belong at 6th and Market

Tuesday, March 17th, 2015

See this place at 6th and Market? It catches the overflow from Dotties, the shop around the corner:

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It used to be Pearl’s Deluxe Burgers.

PDB was funded by and “Central Market Cultural District Loan Fund” and [cough] the San Francisco Redevelopment Agency*[R.I.P.]

Here’s the story of PDB:

2010: Pearl’s Burgers signs on to Mid-Market rejuvenation

2011: Pearl’s Burgers opens on Market

2014: Pearl’s Deluxe Burgers closes its location at Sixth and Market

PDB at 1001 Market Street wasn’t a good idea.

Whose idea was it?

Was it Mayor Ed Lee’s? Did he “create” jobs here? Well, take a look at the no-longer-operational pres release below.

Oh but look, Homeskillet arrives to save the day.

Shouldn’t it too get corporate welfare from tax and fee payers? Why not?

Why on Gaia’s Green Earth should we have the gov’mint picking winners and losers?

I don’t get it.

Shouldn’t the gov’mint focus on its core functions? Say, how’s SFGov functioning these days down at 6th and Market?

Anyway, bon courage, La Maison Skillet.

*Now I am become Death, the destroyer of worlds.

Mayor Lee Celebrates Central Market Milestone – 56 Jobs Created in Central Market by Companies Taking Advantage of New Payroll Expense Tax Policy

1/26/12—Mayor Edwin M. Lee today announced that businesses are beginning to take advantage of the City’s Central Market/Tenderloin Payroll Expense Tax Exclusion. Zendesk and Pearl’s Deluxe Burgers are the first of what is anticipated to be many companies choosing to locate in the Central Market and Tenderloin neighborhoods and take advantage of the six-year payroll expense tax exclusion for new jobs created.

Creating 56 new jobs in the Central Market area last year, both companies have now been issued conditional letters of eligibility, which allows them to continue to create new jobs, generate revenue for the City and transform Central Market.

“With the success of Pearl’s and Zendesk in Central Market and with the opening of Twitter this summer, I continue to be encouraged by the successes we are seeing. While we have more work to do, we can still celebrate milestones like this and the many small businesses and arts groups arriving in the area, generating new foot traffic and increasing positive activity in the area,” said Mayor Lee. “This is a historic opportunity to leverage the energy and momentum that is creating an eclectic cultural arts, small business, entertainment and innovation economy hub.”

The Central Market/Tenderloin Payroll Expense Tax Exclusion was created to help to stabilize and revitalize an area that has been burdened by decades of high vacancy rates and disinvestment. The policy was designed to attract businesses to Central Market and the Tenderloin in order to create jobs and stimulate small business development. By providing tax relief for new jobs the Tax Exclusion encourages San Francisco companies, particularly those that are fast-growing, to move to Central Market as their employee base expands.

Zendesk, a San Francisco-based technology company that provides cloud-based help desk software, announced they had signed a lease in the Central Market in June of 2011 and that they would be doubling their footprint in September of 2011, shortly after they moved in. Since that time, Zendesk has added 40 jobs and plans to add another 96 jobs in 2012, totaling 200 staff.

“Our move to 6th and Market streets in August has been a meaningful one, and we are honored to be one of what will hopefully be many companies to bring positive change and innovation to this neighborhood,” said Zendesk CEO Mikkel Svane. “We’re excited about being the first tech company to draft and now implement a Community Benefits Agreement, which will help us build and foster long-lasting and meaningful relationships with the residents, businesses, community leaders, and other neighborhood stakeholders in Central Market and the Tenderloin.”

As part of qualifying for the Central Market / Tenderloin Payroll Expense Tax Exclusion, Zendesk entered into a Community Benefits Agreement with the City earlier this week. The company has committed to implementing a number of programs that will benefit the neighborhood and its residents, including support for community gardens, job training programs, access to technology, and a commitment to engage local restaurants and business for event catering and other services.

In November 2011 Pearl’s Deluxe Burgers opened their fourth location in Central Market. The award-winning restaurant was able to locate in Central Market with help from the San Francisco Redevelopment Agency, a loan from the City’s Central Market Cultural District Loan Fund and the Payroll Expense Tax Exclusion. They have created 16 new jobs as a result of their new location.

“It is an exciting and historic time to do business in Central Market,” said Pearl’s Deluxe Burgers Owner Sylvia Yi. “Sixth Street is fast becoming a comfort food corridor, and we are lucky to be a part of it. Innovative incentives like the payroll expense tax exemption will continue to entice other businesses to our area and keep the entrepreneurial momentum going in burgeoning Central Market. Kudos to Mayor Lee and his office for their commitment to revitalize this neighborhood. It is happening with great speed and much success thus far!”

The attraction and expansion of large employers and small businesses to Central Market is a cornerstone of the Mayor’s recently-launched Central Market Economic Strategy, the result of a 10-month public process that has resulted in a comprehensive roadmap to stabilize, revitalize and transform Central Market. Enhanced safety services are one of the primary components of the Economic Strategy, which includes the City’s Central Market Community Safety Ambassadors Program. To read the Central Market Economic Strategy, go to:

OMG! Pearl’s Deluxe Burgers Coming to Sixth and Market – Is the Mid-Market Rebirth Finally Happening?

Wednesday, October 20th, 2010

Do you feel that what the Mid-Market needs is a really good five-cent cigar $14 hamburger sandwich / french-fried potatoes meal deal?

We’ll find out soon enough, when four-star Yelp-rated Pearl’s Deluxe Burgers opens its doors at 1001 Market Street at the intersection with 6th Street.

Bon Courage, PDB!

City financing and small business assistance enable award-winning burger restaurant to become a cornerstone in the ongoing revitalization of Central Market

San Francisco, CA—Mayor Gavin Newsom announced today that Pearl’s Deluxe Burgers, an award-winning burger restaurant, will open their fourth venue at 1001 Market Street at the corner of Sixth Street.  Pearl’s is receiving financing from the Central Market Cultural District Loan Fund, an $11.5 million fund to encourage retail and arts businesses to locate on Market Street, and from the San Francisco Redevelopment Agency’s “Six on Sixth” revitalization program.  Pearl’s on Market and Sixth Streets will add 22 – 33 construction jobs and 16 permanent jobs.  

“Pearl’s Deluxe Burgers’ decision to sign a long-term lease at this challenging corner is another major step in the turnaround of Central Market,” said Mayor Newsom.  “Through targeted financing programs, redevelopment resources and small business permitting and technical support, San Francisco is helping startups and small businesses grow while bringing new investment and jobs where they’re needed most.”

Pearl’s joins Blick Art Supply and a handful of other high-quality, small businesses such as Show Dogs, Archetype Boutique on Market Street and Passion Café and Miss Saigon on Sixth Street in a growing cluster of what is becoming the Central Market arts and cultural district and Sixth Street neighborhood shopping district.

Pearl’s received extensive assistance from City-funded Urban Solutions, a nonprofit organization providing small business assistance free of charge.  Additionally, the building owners at 1001 Market Street helped facilitate the deal by providing collateral for the financing.  

Sylvia Yi, co-owner of Pearl’s, said their decision to open at this location was largely due to the City’s assistance.  She commented, “We see this as an opportunity to give back to the community by creating jobs, increasing commerce in this challenging area, and perhaps enticing other merchants to invest as well.  Working withthe Office of Economic and Workforce Development, the Redevelopment Agency, and Urban Solutions has been instrumental in making this project happen.  As a native San Franciscan, it makes me proud to see our city officials reinvesting in our neighborhoods and working together withlocal merchants to create positive change.  With this kind of effort and partnership, I envision the revitalization of Central Market and Sixth Street is well underway and Pearl’s is honored to be a small part of it.”

Pearl’s Deluxe Burgers was established in 2003 and is run by partners Sylvia and Young Yi.  Pearl’s currently has three locations throughout the Bay Area, including on Post Street in the Theater District.  Pearl’s has received numerous awards including “Best Burger in San Francisco” by SFWeekly and AOL  Pearl’s has also been featured in the Food Network’s The Best Thing I Ever Ate and recently appeared on Channel 5’s Eye On The Bay