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Committee approves timing change for 950 Market developer payment to 180 Jones affordable housing fund
Summary
The committee recommended an amendment to Ordinance 49‑17 to tie the first $1.5 million payment from the 950 Market project to the first construction document (expected Q1 2018) rather than an earlier date, responding to lender timing and construction-cost issues; the committee sent the amendment to the full Board with a positive recommendation.
A representative from Supervisor Kim’s office described the requested amendment to Ordinance 49‑17 (adopted March 7, 2017) related to the 950 Market Street project. The original ordinance included a schedule of payments to the 180 Jones affordable housing fund,…
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