The battle between the city and developers over taxes in the Transbay district is putting several fancy towers in limbo, but most of all the falling out threatens the extension of Caltrain from Fourth and King streets to the new Transbay Transit Center—the very point of putting up a big shiny building to begin with, sigh. Both sides seem capable of hitting where it hurts: Developers can sue over what they're calling a bait-and-switch tax hike, and the city can withhold certificates of occupancy for the buildings that are already under construction. According to the Chronicle, the developers who take issue with the city's tax terms will likely hold off on filing suit for at least a few weeks. [SFGate]
Filed under: