While supes and advocacy groups resist some aspects of Gavin's development "stimulus," the mayor continues to push the legislation — lately adding the idea of a special tax district citywide to help fund construction projects. According to the SF Examiner, the a "citywide Mello-Roos" district would levy additional property taxes on new projects through which developers can pay back construction loans. Also, as previously reported, one prong of the stimulus, which would have completely deferred development impact fees, has been scaled back: advocates insisted that neighborhoods get at least a fair 20 percent down payment on those fees. Gavin's team has agreed, though not without some grumbling: "The stimulative effects are diminished." Tabled for now, says the Examiner: the plan to reduce by a third affordable-housing fees (in exchange for a transfer fee on properties), as supes were apparently not biting.
· Loan plan could boost building [SF Examiner]
· Development 'Stimulus' Could Increase Economy by $250M a Year [Curbed SF]
[Photo via g-hat]