Report – NBC Los Angeles

A plan to probably carry extra reasonably priced housing to San Francisco is within the works.

The San Francisco Examiner reported {that a} public report reveals property taxes could be tapped into to result in 6,000 extra reasonably priced housing items to the town.

The plan would want approval by state legislators.

Some businesses that may be involved in regards to the plan embody the college district and BART. Property taxes are normally cut up up with these entities.

In line with the Examiner, the previous redevelopment company, now referred to as the Workplace of Group Infrastructure and Funding, mentioned the median residence worth in San Francisco final yr was $1.Four million and the median market lease for an condo was $4,500.

It’s unclear when state legislators may take up the problem.

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