What if market keeps going up? Study also said you can increase the requirement 0.5% a year. So for the first time, SF's fee will be dynamic
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Replying to @rolandlisf
If the market crashes, this is a problem for market-rate projects. Here's what happened last time (green line). http://arev.assembly.ca.gov/sites/arev.assembly.ca.gov/files/HTF%20Pres%20CA%20Leg%20Hearing%20%20from%20Lee.pdf …pic.twitter.com/Y7s9AuMyh1
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Replying to @rolandlisf
Note: Market-rate project fees generate millions for affordable housing, but cuts in federal, state $ have cost SF BILLIONS in funding.
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Replying to @rolandlisf
As public funding dropped, SF, other California cities used higher fees, bonds to build affordable units. Not nearly enough to make up gap.
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Replying to @rolandlisf
Developers aren't happy about 18% +1 +1 +0.5, but they're happy that they have certainty and can calculate what they can expect to pay.
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Replying to @rolandlisf
As Jesse Blout told me, this is the price for "peace in our time," Eric Tao said, no more ballot measureshttp://www.bizjournals.com/sanfrancisco/news/2017/05/18/developers-sf-affordable-housing-costs.html …
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Replying to @rolandlisf
Every even numbered district has a race: 2: Farrell termed out 4: Tang can run 6: Kim termed out 8: Sheehy can run 10 Cohen termed out
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Replying to @rolandlisf
One City Hall source believes future candidates are willing to run to change the policy further. This isn't over, the person said.
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As I said, Prop C was like handing control of the federal funds rate to Congress, away from the central bank.
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Replying to @kimmaicutler
2016's Prop C had to be on the ballot to revert 2012's Prop C https://ballotpedia.org/San_Francisco_Creation_of_a_Housing_Trust_Fund,_Proposition_C_(November_2012) …pic.twitter.com/q5LnDBnvas
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