So they’re each trying to stall each other out until he sells for less than $18M to the city or he sues under state law basically.
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Replying to @kimmaicutler @jrivanob and
Don't forget that this is blowing up because he's not politically connected and doesn't want to play the "community benefits" extortion game the way several non-profits and developers do in the city...
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Replying to @skip_sf @kimmaicutler and
I mean, he could have offered significantly higher inclusionary rates (10.6% is very low), I think he just doesn't feel he should have to negotiate like this.
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Replying to @jrivanob @kimmaicutler and
He doesn't have to. The reason the rate is low is that the project complies with the state density bonus and he was able to add a few floors. His initial proposal had a higher number, but fewer overall units. Take you pick.
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Replying to @skip_sf @kimmaicutler and
I know he doesn't have to legally, and maybe it doesn't even pencil, but seems like you could add more inclusionary w/75 unit count and activists certainly think so.
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Replying to @jrivanob @kimmaicutler and
The problem is that's an entirely discretionary request. In addition, how do you know that they'd stop their demands at "just a few more"? What we need are clear standards and guidelines that are stable for at least one economic cycle (about 10 years).
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Replying to @skip_sf @kimmaicutler and
Not disputing that, standards clearly necessary, but Mission activists have stopped in past when goals (admittedly arbitrary & hard to gauge) are met. I'm just saying I get why they're going all out against a 10.6% BMR project.
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The entire existence of that game inevitably drags things out. The delay and uncertainty increase the cost of capital and the barriers to entry and just generally kill projects, often before they're even proposed.
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It's exactly as
@skip_sf says: he plays by the rules but refuses to be strong armed quietly. That exposes how the system really works and it ain't pretty.1 reply 0 retweets 2 likes -
Owner has clearly stated he doesn’t intend to build the project. He plans to sell. The only questions are price and buyer. Community would prefer AF developer, but price???
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@jrivanob has he said he doesn’t intend to build?
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Replying to @sf4sfsite @kimmaicutler and
When did he say this? I haven't heard it.
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