: socketsite – excerpt
While legislation to streamline the approval process for developers of below-market-rate housing in San Francisco to build up to three stories higher than zoned was adopted last year, the biggest component of San Francisco’s proposed Affordable Housing Bonus Program, which would have allowed market-rate developers to build up to two stories higher than currently zoned in exchange for pricing 30 percent of the development at below-market rates, was effectively abandoned.
But the bonus height program for market rate developers is about to re-emerge as “HOME-SF.”
And in addition, the HOME-SF program would expand the income range of households that qualify for the newly built below-market-rate units to families earning up to 150 percent of the Area Median Income, which is currently up to $140,000 a year for a family of four.
We heard that the ABHP was coming back. Now we know the new name of the program. Time to polish the Better Plan petition off and re-run it.