What this means practically: nothing you can put on your calendar yet. The SF Zoo last housed giant pandas in the early 2000s, and a return loan from China would be a genuine draw — these animals move attendance numbers in a way most exhibits don't. The mayor's letter signals the deal is still in play, not that it's done.
When an announcement with actual dates does drop, the zoo is at 1 Zoo Road in the Sunset, accessible by the 23 or 18 bus lines (no BART stop nearby — budget 20 minutes from West Portal). Admission runs $25 for adults, less for kids and seniors, and the zoo is free the first Wednesday of each month for San Francisco residents with ID.
If you want to see the zoo in the meantime: the African Savanna and the Grizzly Gulch area are the two exhibits worth orienting your visit around. Skip the weekend morning rush — midweek afternoons are quieter and the animals are more active.