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Committee backs narrow exception to allow tax-exempt bond financing, tax credits for a Sutter Street affordable housing project
Summary
The Land Use and Transportation Committee voted unanimously to recommend an ordinance that would let certain projects use California tax-exempt bond financing and tax credits when they produce deeper affordability than the inclusionary housing ordinance requires and would temporarily exempt those projects from a sanitary-code water reuse mandate.
The Land Use and Transportation Committee of the San Francisco Board of Supervisors voted 3-0 on Feb. 10 to recommend an ordinance that would allow certain affordable housing projects to use California Debt Limit Allocation Committee (CDLAC) tax-exempt bond financing and state tax credits when those projects provide units or deeper affordability levels beyond the inclusionary housing ordinance requirements.
The ordinance also would amend the San Francisco Health Code to exempt the eligible projects from a local requirement that new buildings be…
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