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Taxing Transbay

Developers of new towers near the new Transbay Transit Center are threatening to sue the city over a proposed tax district that would generate the revenue needed to pay for the extension of Caltrain into the center. The new district could bring in $1.4 billion, but developers argue that the city is unfairly increasing taxes to make up for the transit project's cost overruns. The Board of Supervisors is scheduled to vote on the new district today. [SFGate]