City working on sailing-race scenarios

The cracked and crumbling concrete parking lots in the shadow of the Bay Bridge could be transformed into a busy central hub for a 2014 America’s Cup yacht race. But in order to make that a reality, The City must bargain away the long-term development rights for the valuable property.

San Francisco’s most developed vision yet for how a race could be held in the Bay was outlined Monday night at a neighborhood meeting at the South Beach Yacht Club. The City is competing with Spain and Italy to host the race, which is considered the world’s third-largest sporting event after the Olympics and soccer’s World Cup.