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Conference negotiators discuss $200 million cap, 2035 sunset for CHIP and TIF in S.F. 127 talks
Summary
At a May 30 meeting of the Senate-House conference committee on S.F. 127, conference negotiators outlined a proposal that would cap a housing financing package at $200,000,000, set sunsets for both CHIP and TIF in 2035, require a 10-year report-back, and preserve an affordable-housing exemption while excluding mixed- or middle-income projects.
At a May 30 meeting of the Senate-House conference committee on S.F. 127, conference negotiators outlined a proposal that would cap a housing financing package at $200,000,000, set sunsets for both CHIP and TIF in 2035, require a 10-year report-back, and preserve an affordable-housing exemption while excluding mixed- or middle-income projects.
The summary was presented by Committee Member 1, conference committee member, who said, “That is a $200,000,000 cap, the increment retention at $75.85, a $20.35 sunset, both CHIP and TIF, the affordable exception for but 4, but not the mixed, and the 10 year report back. That is what we are proposing to you, and we have a document, and we are prepared to sign.”
Why it matters: CHIP (Community…
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