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Committee advances resolution to extend time to evaluate AB27 redevelopment payment
Summary
The committee approved forwarding a resolution that gives the city an additional month to determine how to comply with AB27’s requirements and to calculate a remittance estimated at about $26 million to keep redevelopment activities; staff warned the payment and ongoing obligations could delay or reduce future housing projects and are subject to state calculation and pending litigation.
The Budget and Finance Committee voted to forward to the full Board a resolution giving the City and County of San Francisco additional time to evaluate the mechanics and funding for a remittance tied to Assembly Bill 27, which would allow certain redevelopment activities to continue.
Amy Lee, Deputy Executive Director of the Redevelopment Agency, described the resolution as a procedural item to buy the city up to one more month to assemble the…
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