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Treasure Island Plan's Got Some Creative Budget Stretching Ahead

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The Chron's reporting that the Treasure Island eco-plan is at the moment somewhere between $60 to $90 million shy of workable. The gap, which officials are saying is "bridgeable," means that the city might have to come up with some "creative" measures to get everything in order, and pay the $105 million the Navy's asking in exchange for the island. A few of those measures: use police and fire budgets to build stations on the island (even though the city's general fund wasn't actually supposed to be touched for development on TI), delaying ferry terminal construction, and — this one will likely turn out to be the most controversial — allowing developers to build less affordable housing if they pony up a little extra in fees. Supervisor Chris Daly, whose signature issue is affordable housing, and whose district includes Treasure Island, on the sellout idea: "I can tell you that compromising on affordability would be a killer." Given his track record on such issues, he's probably not kidding.
· Shortfall could scale back Treasure Island plans [SFGate]
· No Money, No Prob: Buy Treasure Island on an Installment Plan [Curbed SF]