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The Missing Middle

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Mayor Ed Lee wants to put a $250 million housing bond on November's ballot to subsidize rental housing for the middle class. A small amount of the money from the bond would be used to pay real estate developers building new market-rate buildings to set aside some rentals for households making $100,000 to $140,000 per year. According to city officials, this program would likely be the first of its kind in the US tailored to middle-class residents. [SF Business Times]