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Redevelopment agency seeks extension to finance low-income housing through tax-increment amendment
Summary
The Redevelopment Agency proposed amending the Rincon Point/South Beach plan to extend tax-increment receipts and suspend certain limits to issue tax allocation bonds for low- and moderate-income housing; the agency said the change helps replace housing demolished before 1976 and supports roughly 800 units in the pipeline.
Marcia Rosen of the San Francisco Redevelopment Agency presented an ordinance amending the Rincon Point/South Beach redevelopment plan to extend the time for tax-increment receipt and suspend limits on indebtedness so the agency can continue financing low- and moderate-income housing. Rosen said the…
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