New Tax Idea Courtesy Gavin Newsom

By Andy J. Wang
|  Thursday, Apr 29, 2010  |  Updated 3:45 PM PDT
View Comments (
)
|
Email
|
Print
New Tax Idea Courtesy Gavin Newsom

Getty Images

Gavin Newsom demonstrates his cost-cutting efforts by reducing his tie-cleaning bill by not wearing one.

advertisement

While supes and advocacy groups resist some aspects of Gavin's development "stimulus," the mayor continues to push the legislation — lately adding the idea of a special tax district citywide to help fund construction projects.

According to the SF Examiner, the a "citywide Mello-Roos" district would levy additional property taxes on new projects through which developers can pay back construction loans.

Also, as previously reported, one prong of the stimulus, which would have completely deferred development impact fees, has been scaled back: advocates insisted that neighborhoods get at least a fair 20 percent down payment on those fees. Gavin's team has agreed, though not without some grumbling:

"The stimulative effects are diminished." Tabled for now, says the Examiner: the plan to reduce by a third affordable-housing fees (in exchange for a transfer fee on properties), as supes were apparently not biting.

Get the latest headlines sent to your inbox!
View Comments (
)
|
Email
|
Print
Leave Comments
Bay Area Proud
Bay Area Proud is NBC Bay... Read more
Follow Us
Sign up to receive news and updates that matter to you.
Send Us Your Story Tips
Check Out