Transferring Treasure Island to San Francisco; Celebrating Social Security’s 75th Birthday

Transferring Treasure Island from the Navy to San Francisco
On Tuesday, I was honored to join Navy Secretary Ray Mabus and Mayor Gavin Newsom at a ceremony to endorse the Terms of Transfer of Treasure Island to our City of San Francisco. During World War II, Treasure Island served as a critical base for the United States Navy. When the base was set to close, leaders of this city and its representatives in Congress recognized the potential for Treasure Island to remain a vital piece of our region’s success and future.

Now, Treasure Island officially enters its next chapter – this time, as a center for jobs and economic development. Thanks to the agreement between the Navy and the city of San Francisco, we can move forward on plans to build essential infrastructure, open space and parks, hotels and affordable housing for local residents. Remaking Treasure Island will mean significant contributions to industries central to San Francisco’s economic vitality – tourism, retail, restaurants, and entertainment. Perhaps most significant of all, this project means critical investments and benefits for our city and our region’s economy:

• More than $5 billion in public and private investments;
• Nearly 3,000 permanent jobs – five times the number of civilian jobs lost when the base closed;
• 2,000 temporary jobs per year during construction;
• Up to 8,000 new residential units – 30 percent of which will be offered at rates affordable for low and middle-income families.

Treasure Island’s roots in San Francisco’s history have remained firmly planted through our nation’s Navy. Now, those roots will go deeper, providing a foundation of growth, prosperity, and opportunity for our economy. In signing this endorsing agreement, we ensure that this site will remain a source of jobs for our community in the decades to come. This marks another step forward in our efforts to transform former military installations – like the Presidio and Hunters Point – into centers of commerce that generate jobs and strengthen our communities.

Celebrating Social Security’s 75th Birthday
For 75 years, Social Security has represented a bedrock promise to the American people: that after a lifetime of work, this country would ensure a measure of protection for our seniors - now and for generations to come. What started as a cornerstone of the New Deal has become an unbreakable bond in our nation’s social contract. It is a source of stability for millions of hard-working Americans – through survivor benefits and assistance to seniors and people with disabilities. And we will continue to uphold our pledge of Social Security long into the future.

Congresswoman Pelosi joins Supervisor Sophie Maxwell and community leaders
to celebrate the 75th anniversary of Social Security.

Last week, I was proud to join with Supervisor Sophie Maxwell, San Francisco Labor Council President Mike Casey, and representatives from the National Committee to Preserve Social Security and Medicare, and AARP at the Potrero Hill Neighborhood House to celebrate Social Security’s 75th Birthday.

Just five years ago, President Bush and Congressional Republicans put forth a risky plan to privatize and cut Social Security – turning it over to the whims of Wall Street. Today, Republicans continue to chart a course right back to the same failed ideas of the past, putting Social Security at risk. Again, we’re saying ‘no.’ We are not going back to the ‘exact same agenda’ of the Bush years. Seventy-five years after Social Security’s enactment, we will keep moving forward, strengthening this vital initiative, and never wavering from our promise to America’s seniors.”

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