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Proposition C is set to go to voters on June 7. The measure proposed by Jane Kim and Aaron Peskin aims to increase the number of units set aside in new developments for affordable housing from 12% to 25%. While the law would apply to any project filed after Jan. 12, 2016, trailing legislation would affect projects proposed from 2013 onwards that haven’t started construction.
The add-on law being worked out by the Board of Supervisors' Land Use and Transportation Committee means a development proposed in 2013 would now need to set aside 13% of total units for affordable housing instead of 12% under old regulations, according to the San Francisco Chronicle. The increases grow each year to 2015. So 2014 would need to reserve 13.5% units and 2015 projects need 14.5% units set aside for affordable housing. These increases would add about 200 units to the city's affordable housing stock.
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The proposition and the trailing legislation have some developers, unions and lawmakers up in arms. Developers worry the proposals may make some projects uneconomical. Supervisor Scott Wiener criticized the “backroom” nature of the deal and warned of the arbitrariness of the process. The Carpenter’s Union protested the proposition by placing a tombstone and skeleton outside of City Hall.
Prop C has been highly contested, with Mayor Ed Lee arguing more time is needed to conduct an impact analysis. [SFC]
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