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Committee advances SF Jazz New Markets tax‑credit indemnity with condition to refine community benefits
Summary
The committee agreed to send a resolution authorizing a city indemnity for $15 million in New Markets Tax Credit investment for the SF Jazz Center to the Board without recommendation, while pressing sponsors to strengthen the community benefits agreement to tie benefits to the Fillmore neighborhood.
The Budget and Finance Committee moved to forward, without recommendation, a resolution approving a New Markets Tax Credit indemnification agreement tied to $15,000,000 in tax‑credit allocation for the proposed SF Jazz Center at Franklin and Fell.
Amy Brown (acting city administrator) and Stephen Maduli Williams (Redevelopment Agency / San Francisco Community Investment Fund) explained that the San Francisco Community Investment Fund (SIF) received a $35 million allocation in tax credits and proposed deploying $15 million to the SF…
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