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San Francisco Supes Committee Considers Fate Of America's Cup

SAN FRANCISCO (KCBS) – A San Francisco Board of Supervisors committee is once again parsing through the contract between America's Cup officials and the city to host the event next year.

Last week, several supervisors complained that the tentative agreement they approved last year had been altered, giving organizers new development rights at Pier 29 along with other financial benefits.

KCBS' Barbara Taylor Reports:

Supervisor David Chiu went from a supporter to a no vote. "At this moment, there is absolutely zero support for event authority development at Pier 29," said Chiu.

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He was not the only one that soured on the plan as Supervisor John Avalos said that the contract was no longer a fair deal.

"I think that we can have that win-win situation," he said. "But the finances have to do a lot better for the city and I'm hoping we can all come to agree."

Last weekend, event organizers tweaked the agreement, taking Pier 29 out along with some other provisions that had been deemed unacceptable.

Time is of the essence for the races to take place as scheduled as the Budget and Finance Committee needs to send the revised contract to the full Board of Supervisors for a vote by next week.

(Copyright 2012 by CBS San Francisco. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)

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