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Board approves 8-year extension, modified affordable-housing rules for 3333 California Street project
Summary
The Board of Supervisors approved an amendment extending the development agreement for 3333 California Street and allowing the project to qualify for temporary fee reductions and incremental property-tax financing for public facilities and affordable housing.
The San Francisco Board of Supervisors on Nov. 19 approved an amendment to the development agreement for the 3333 California Street project that extends the agreement by eight years and modifies affordable housing requirements to allow the project to use a temporary fee reduction program and an incremental property-tax financing framework.
The ordinance, removed from the consent calendar for brief remarks and then approved on the floor, extends the development agreement through Sept. 11, 2043, and directs inclusion of a finance plan that could use incremental property tax revenue to…
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