Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Mayor-backed transfer-tax waiver for office-to-housing conversions is heard amid warnings it could erode Prop I funds
Summary
The Rules Committee heard a mayor-sponsored measure to exempt the first transfer after office-to-residential conversion from the transfer tax to spur downtown conversions; Supervisor Dean Preston warned it could undercut Prop I housing revenue and give elected officials power to amend the tax without another public vote.
The Rules Committee on Nov. 13 considered a mayor-sponsored ballot initiative that would exempt the first transfer after office-to-residential conversion from the city's real property transfer tax and make planning-code adjustments to support office-to-housing conversions. The measure is presented as part of a downtown recovery strategy to make adaptive reuse financially feasible by removing a frequently cited fiscal impediment.
Anne Topier…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
