An entire committee of non-profit and market-Rate developers studied that issue for a year and found that 25%, which was an arbitrary number she picked because it sounded good, wasn’t actually feasible. http://sfcontroller.org/sites/default/files/Documents/Economic%20Analysis/Final%20Inclusionary%20Housing%20Report%20February%202017.pdf …
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Looking at the overall returns on capital these projects are getting, looking at the gouging all up and down the term sheet, looking even at the analysis by Cooper and Cowan: 25% ain't nearly enough.
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Looking where at what imaginary pro formas? Ok.
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You said you had problems with IZ. I think mixed-income zoning is good as long as electeds are honest about its limitations — which they are not.
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