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Redevelopment Agency Seeks Extension of Western Addition Tax-Increment for Affordable Housing
Summary
The committee reviewed an amendment to the Western Addition (A‑2) redevelopment plan to extend tax-increment receipts and issuance authority under SB2113 so the Redevelopment Agency can continue financing affordable housing; agency staff estimated the amendment could generate up to about $66 million for housing while the agency has already encumbered roughly $87 million of SB2113‑derived funds citywide.
The San Francisco Redevelopment Agency presented an amendment to the Western Addition (A‑2) redevelopment plan seeking authority to extend the time to issue debt and to continue receipt of tax-increment revenues under SB2113 for affordable housing activities.
Olson Lee, deputy executive director of the Redevelopment Agency, said SB2113 (added to the Health and Safety Code) authorizes the city to treat units demolished prior to 1976 as unfulfilled affordable-housing obligations. Lee listed…
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