California Institute for Regenerative Medicine Press Release: ICOC Selects San Francisco Site for Permanent CIRM Headquarters; San Francisco Approved by Majority Vote at ICOC Meeting in Fresno.

FRESNO, Calif. -- The Independent Citizens' Oversight Committee (ICOC) announced today that it has selected San Francisco as the site for the permanent headquarters of the California Institute for Regenerative Medicine (CIRM). The selection was approved by a majority vote, 16 to 11, at the ICOC meeting in Fresno. The decision was based on the final presentations made by San Francisco, Sacramento and San Diego at the meeting as well as the recommendations put forward by the ICOC's Site Selection Subcommittee.

"This has been a remarkable process and we thank all of the cities and their citizens that generously offered their facilities and resources," said Robert Klein, chair of the Subcommittee and the ICOC. "With the selection of CIRM's permanent headquarters, the Institute can move forward with carrying out the will of the California voters by funding invaluable stem cell research that will benefit all of the state and the world."

The site for CIRM's headquarters, at 250 King Street in San Francisco, is expected to house approximately 50 employees and serve as the central location from which the organization will administer grants and loans for stem cell research, research facilities and other vital research opportunities.

Prior to the selection of CIRM's permanent headquarters, the ICOC's Subcommittee accepted bids from Emeryville, Sacramento, San Diego and San Francisco for consideration. Based on a scored evaluation of the cities' written proposals and site meetings, the Subcommittee recommended San Francisco as the finalist, and Sacramento as the runner-up for CIRM's permanent headquarters. Because San Diego's combined score was within one point of Sacramento's total, each of the three cities was asked to make a ten minute presentation before the ICOC in Fresno prior to its final vote.

CIRM was established in 2004 with the passage of Proposition 71, the California Stem Cell Research and Cures Initiative. The Institute is responsible for disbursing $3 billion in State funds for stem cell research to California universities and research institutions over the next ten years and is governed by the Independent Citizens' Oversight Committee.