The benefit of being awarded “Legacy Business” status in San Francisco is widely misunderstood and frequently misrepresented.
Businesses that apply and are approved for Legacy Business status by the City are eligible to receive a grant of $500 per full-time employee per year, capped at $50,000 annually. And landlords who provide leases to Legacy Businesses, with terms of at least ten years, qualify for a grant of $4.50 per square foot of leased space per year, up to $22,500 annually.
But beyond the aforementioned financial support or subsidy, which is provided by way of the City’s Legacy Business Historic Preservation Fund, being deemed a Legacy Business doesn’t confer any special protections.
Being a Legacy Business doesn’t doesn’t change or extend the terms of an existing lease. It doesn’t prevent a landlord from raising the rent or ousting a business when a lease expires. And it doesn’t prevent the re-development of a Legacy Business’s current home, such as for Britex or the Elbo Room.