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First visit to the California Capitol today to express support for @Scott_Wiener’s #SB50 and @yimbyaction. Big (housing) challenges need bold solutions. Yes In My Back Yard.pic.twitter.com/5NyBXXdTba
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And you say “increased funding” which tells me you don’t understand what TIF is or how to calculate it; you are just arguing for arguments sake. We have too many homeless people to continue that dynamic. Enough is enough.
There are already impact fees and all the other taxes we collect on new market rate housing. Why do you think TIFs are necessary? This isn't an argument that's being made widely, so genuinely curious.
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Because Impact Fees do not have the fiscal power of TIF. Impact fees are sensitive to economic activity and also developer budgets. It’s a bad idea to pick impact fees over TIF.
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TIF (Tax Increment Financing) is a plausible & fair way to greatly increase funding for infrastructure, affordable housing, etc. It is widely talked about in many countries, or indirectly eg whenever people talk about unfairness of upzoning giving windfall wealth to landowners.
End of conversation
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