Development Funds: Mayor Announces $250 Million in Projected Investments

Friday, January 8, 2016
News - Development Funds

Mayor Edwin M. Lee today announced over the next five years, more than $250 million of development impact fee revenue is expected to be invested in several neighborhoods, including Rincon Hill, Market Octavia, Eastern Neighborhoods (comprised of East SoMa, Western SoMa, the Mission District, Showplace Square/Potrero, and Central Waterfront), Transit Center District, Balboa Park and Visitacion Valley, including the Schlage Lock Master Development.

“The success of our new and growing neighborhoods depends on serious investments in infrastructure, like streets, transportation, open space and other long lasting improvements,” said Mayor Lee. “These development impact fees are necessary to build stronger communities and result in strengthening the City as a whole.”