Daly, Developers, SOMA Community Strike Deal on Rincon HillCasey Millsbyline‚ Jul. 22‚ 2005Culminating months of contentious negotiations, Supervisor Chris Daly and community leaders in his district reached an agreement with developers today over proposed Rincon Hill impact fees. The new deal calls for a total of $25 per square foot to be charged on new developments, with $11 going towards infrastructure in the neighborhood and $14 going toward a community stabilization fund. Interests ranging from big developer lobbyist Bob McCarthy to South of Market Community Action Network's (SOMCAN's) Chris Durazo endorsed the agreement, expressing excitement and relief that negotiations had been completed. Now, however, the deal faces one more major hurdle - receiving approval from the full Board of Supervisors. |