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Supervisors revisit Mills Act contract for 714 Steiner; Peskin proposes limiting long-term tax abatement
Summary
The committee considered a Mills Act contract for 714 Steiner Street, heard planning and assessor presentations about eligibility and estimated tax savings, and debated Supervisor Peskin’s proposal to terminate Mills Act contracts after a period to recapture public value; the item was amended and continued to the next GAO meeting on May 5.
The Government Audit & Oversight Committee held a detailed hearing on April 21 on a proposed Mills Act historic property contract for 714 Steiner Street in the Alamo Square historic district.
Supervisor Aaron Peskin, sitting for recused Chair Dean Preston for this item, framed a policy approach that would grant Mills Act contracts while placing them into nonrenewal after 10 years so termination would be effective after 20 years. "What I am suggesting ... is that it be terminated in 10 years so it becomes effective in 20 years," Peskin said, arguing the approach balances early rehabilitation incentives with recapturing public value over time.
Michelle Taylor, senior…
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