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Debate over TSF increase exposes fiscal trade-offs; committee continues measure for more analysis
Summary
The committee debated a proposed $5 per-square-foot increase to the Transportation Sustainability Fee for nonresidential projects (with a potential $2 rate in Central SoMa). Planning staff said a $5 hike would generate about $26.5 million but could render many Central SoMa prototypes marginal or infeasible; the committee continued the item to May 21 for further review.
The Land Use Committee on May 7 considered a proposal to raise the Transportation Sustainability Fee (TSF) for nonresidential development, a measure the sponsor described as part of a larger effort to recover funding for the city's transportation system.
Sponsor Supervisor Aaron Peskin proposed a $5 per-square-foot increase for large nonresidential projects while offering a $2 rate for Central SoMa prototypes that planning staff said would be most affected. Planning Department analysts warned that, after escalating cost and rent assumptions to 2017 levels, many Central SoMa prototype projects moved from feasible to marginal or infeasible if a $5 increase were applied.
Plan…
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