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Development 'Stimulus' Could Goose Timetables on 4 Major Projects

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Billed as a local jobs stimulus, Mayor Gavin spoke yesterday on a plan to get going on a bunch of pending development projects, potentially creating 700 jobs in the process. The plan's a three-parter: 1) consolidate development fees all in one place, 2) defer them so builders can get going sooner (though they'd have to pay up before anyone moves in), and finally, 3) have developers pay a third less on affordable housing fees — in exchange for the city getting a 1 percent transfer fee on developments. Supposedly, the city would be able to "recoup the original affordable housing amount in 18 years on a mid-rise condo project." All this would also supposedly accelerate the timetable for four big projects by up to two years — with work starting in as soon as two months. Those projects: the Market/Buchanan glassy blocks by Arquitectonica, the Whole Foods development at Market and Dolores, Infinity cousin 201 Folsom, and — gasp — One Rincon Hill's little sister.
· Newsom plan would defer up-front developer fees [SFGate]
· The Pay-Later Plan [Curbed SF]