Shall it be City policy that any mixed-use development plan the City approves for Candlestick Point and Hunters Point Shipyard require 50% of all new housing units developed in the area be affordable, give preferences for the rental or purchase of new affordable housing to families of low and moderate income, and, if Alice Griffith housing is rebuilt, replace the units on a one-to-one basis; and shall the City be prohibited from selling, conveying or leasing any City-owned land at Candlestick Point unless the Board of Supervisors finds that the mixed-use development plan for this area incorporates these policies?
Currently, state law requires any new mixed development to include at least 15% affordable housing.
Proposition F plans to take it a step further and require 50% of the housing in the Bayview Hunters Point redevelopment plan to be affordable. The proposal goes on to say 1/6 of the homes must be affordable to those with 80% of the San Francisco Median Income (SFMI), 1/6 for those with 60% SFMI, and 1/6 for 30% SFMI.
The Bay Area Census estimates the SFMI to be $65,497 in 2006. “Affordable” means monthly rent costs including utilities must not exceed 30% of a houshold’s monthly gross income. From the figures above, the maximum monthly rent would amount to $1,687. Seeing as how it is 2008, the figure may be higher.
This proposition was written as an alternative to Proposition G which is more development-friendly.
Proponents for Proposition F wants more affordable housing. Opponents of Proposition F don’t wish to lose out on the revenue lost from building affordable housing.
This is a pretty open-and-shut case. If you wish to see more affordable housing in the redevelopment plan for the Bayview Hunters Point area then vote yes. Otherwise vote no.