Developers are claiming that proposed increases to transit fees on new development in San Francisco would cripple the building of new homes in the city. Currently, residential developers do not pay any fees toward the city's transit system, and under the proposal they would pay $7.74 per gross square foot. Commercial developers would see fees rise from the current $14 per square foot to $18. The funds would be used to expand the city's Muni fleet, retrofit existing trains, invest in the electrification of Caltrain, and provide safety improvements for bicyclists and pedestrians. [SF Chronicle]
Filed under:
Loading comments...