Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Redevelopment topic
No spam. Unsubscribe anytime.
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 previously funded projects and citywide and Bayview developments supported by SB2113 funds, including a 134-unit family development at Tenth & Mission and senior and formerly homeless units in other projects. He estimated the Western Addition amendment could generate up to about $66 million in incremental funds for affordable housing and said the agency has earmarked or encumbered roughly $87 million of SB2113 amendment funds to support about 7,000 units (agency estimate in the record).
Community members urged priority for the Western Addition: Arnold Townsend, chair of the West Addition Citizens Advisory Committee, asked that tax-increment funds collected from the A‑2 area be spent in the Western Addition until a sunset plan satisfies residents' concerns and suggested funding studies and co‑op conversions to preserve long-term local affordability.
Agency staff said they had not budgeted all of the balance and would not presumptuously assign the full $66 million; targeted amounts in the 2008–09 budget included a $5 million allocation to specific projects such as 1345 Turk Street or the Mary Helen Rogers senior community. Members discussed process and eligibility: staff described how projects would be considered by the Mayor's Office of Housing or the agency through established funding processes.
The committee agreed to hold the item for referral to the full board on a date in late November to allow more time for follow-up and to finalize staff work before full-board consideration.
