Sponsored link
Friday, March 14, 2025

Sponsored link

UncategorizedLEGAL TAX CHEATING: City loses $137 million to pointless...

LEGAL TAX CHEATING: City loses $137 million to pointless “deferrals”

But the economy has picked up to the point where development is booming, and many of the projects that won deferrals are under construction, completed or ready to open. Which means the impacts of those projects will be felt – with, for example, more crowded buses – long before the money comes in to improve the transit system.

Of the $166,879,439 in deferred payments approved by the city, $28,980,664 has been paid, meaning there’s an outstanding balance of $137,895,775. That would buy a lot of new buses and fund a lot of affordable housing.

The problem with deferring payments, of course, is that the impacts happen when the projects open, not years later – and the cost of land is rising so fast that $1 for affordable housing today is likely to be worth far less than $1 two years from now.

Here are some of the major projects that won deferrals:


101 1ST ST 
  Transit center — high rise office building

  • $52,797,251.00

401 HARRISON STRincon Hill One second towerluxury condos right next to Bay Bridge

  • $24,026,161.88

45 LANSING ST luxury Rincon Hill condos block away from 401 Harrison

  • $21,730,709.93

222 2ND ST – office building 2nd and Howard – being built for tech industry tenants

Sponsored link

Help us save local journalism!

Every tax-deductible donation helps us grow to cover the issues that mean the most to our community. Become a 48 Hills Hero and support the only daily progressive news source in the Bay Area.

  • $14,252,427.70

350 MISSION ST – Salesforce headquarters being built by Kilroy Realty

  • $8,066,938.97

900 FOLSOM ST – West Soma Plan – large site – closest to a neighborhood project on list

  •  $2,013,627.11

1998 MARKET ST – Market/Octavia Plan condos – Buchanan & Market

  • $1,684,615.42

2559 VAN NESS AVE – Filbert & Van Ness Ave condos   

  • $1,611,274.68

401 GROVE ST – Market/Octavia Plan condos – Grove & Gough

  • $1,113,284.47

942 MISSION ST  – hotel across from Chronicle  Building

  • $1,033,516.43

899 VALENCIA ST – Eastern Neighborhoods – 20th & Valencia $1,016,069.67

48 Hills welcomes comments in the form of letters to the editor, which you can submit here. We also invite you to join the conversation on our FacebookTwitter, and Instagram

Marke B.
Marke B.
Marke Bieschke is the publisher and arts and culture editor of 48 Hills. He co-owns the Stud bar in SoMa. Reach him at marke (at) 48hills.org, follow @supermarke on Twitter.

Sponsored link

Sponsored link

Featured

What’s on next at the Trump Center for the Performing Arts (besides more booing)?

Buckle up for wrestling matches, rare earth mineral mining, and an extrajudicial spin on 'Mack the Knife'

DJ FLOW’s Saturday night sets spin Bay Area hip-hop mixshow tradition

102.1 Jams' new radio star has serious talent—and local influences starting with 1980s Filipino mobile crews.

‘Emotions expand and figures distort’ in Robert Hightower’s unapologetic works

Richmond father and artist articulates police brutality and his own bipolar disorder through graphic motif.

More by this author

The pinball wizard of Superfine Art Fair

Lead curator Sharone Halevy tells us how she fits 150+ artists—plus circus performers, live musicians, and more— into Fort Mason.

Party Radar: 5 hot spots to dance this mess around

We don't need this fascist groove thang—from Carnaval to the Klituation, with reggaeton, techno, and Detroit house in between.

Juanita More names Transgender Law Center as Pride party beneficiary, as threats to community mount

Wild annual celebration is also essential community fundraiser—and protecting trans rights has leapt to fore.

You might also likeRELATED