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Wheeling & Dealing

After months of negotiations, the Jay Paul Co. has agreed to pay the city $13.85 million in order to avoid including 11 below-market-rate condos in its ultra-luxury project at 181 Fremont. The fee, which works out to $1.26 million per unbuilt unit, will pay for roughly 68 new units of affordable housing elsewhere in the Transbay district. [SF Gate]