Prior to the November 8 election, we reported on the long list of local propositions on the San Francisco ballot, including a number of measures impacting real estate taxes, land use and governance. The results were of course eclipsed by national news, but there are some significant local developments, updated here.
The results are predictably unpredictable.
Voters in some cases upheld the status quo, rejecting a proposed shift in authority from the Mayor to the Board of Supervisors and an increase in the range of income eligibility for affordable housing. In other cases voters supported change, allowing development in Hunter’s Point and Candlestick Point to be exempted from the office development cap, requiring Production, Distribution and Repair (“PDR”) replacement in certain areas of the City, and increasing the real estate transfer tax (okay, maybe the tax increase was predictable).
Below are the preliminary results as reported by the Department of Elections, subject to certification by the Board of Supervisors on or prior to December 2.
There were also a number of important housing-related measures considered around the Bay. Read our analysis from around the Bay Area here.
Summary of San Francisco Results:
Would have shifted authority from the Mayor to the Board of Supervisors regarding the San Francisco Municipal Transportation Authority. REJECTED.
Would have shifted authority from the Mayor to the Board of Supervisors regarding the Mayor’s Office of Economic Development and the and the Mayor’s Office of Housing and Community Development. REJECTED.
Exempts new office construction at Candlestick Point and Hunter’s Point from the office allocation cap. PASSED.
Sought to expand the range of household income levels for affordable unit eligibility. REJECTED.
Increases the real estate transfer tax rate by 0.25% for sales valued between $5 million and $10 million (increase from $10/$500 in purchase price to $11.25/$500), and between $10 million and $25 million (increase from $12.50/$500 in purchase price to $13.75/$500), and creates a new tier of transfer tax for sales valued above $25 million of 3% of the purchase price ($15/$500). NOTE: The effective date will be 10 days after the date that the vote is certified by the Board of Supervisors, which is supposed to occur no later than December 2, 2016 (for an effective date that would occur on or prior to December 12, 2016). PASSED.
Imposes replacement requirements for Production, Distribution, and Repair (“PDR”) space for certain zoning districts within SoMa and the Mission. The replacement percentages are higher than those in the Central SOMA Plan. PASSED.