UPDATE: This ordinance was approved and signed by the Mayor on 9-14-23.
Ordinance 230769 was introduced on 6-27-23 by Supervisors Peskin, Safai, Mandelman, Dorsey, and Stefani
This legislation reduces inclusionary housing rates for projects with 25+ units, approved prior to November 1, 2023. On site rates would be 12% (reduced from 15%), off-site would be 16.4% (reduced from 20%). Rates would also be reduced temporarily for projects approved between November 1, 2023 and November 1, 2026 and standard annual increases will be paused. Other Development Impact fees, including transit fees, job housing fees, park/open space fees, and other infrastructure fees would also be reduced by 33% if meeting certain criteria.
See also, amendments in Ordinance 230855.