The San Diego Housing Commission next week will propose to the City Council's Smart Growth and Land Use Committee a new plan for funding affordable housing and making market-rate housing cheaper.
Here's a draft of the report that will go to the committee. CityBeat will follow up with some analysis of the details soon.
The proposal stems from a battle earlier this year: The City Council passed an increase to a fee that developers of commercial properties pay to help finance affordable housing, but opponents of the fee—calling themselves the Jobs Coalition—waged a successful campaign to get a referendum on the ballot to repeal the increase, and the City Council conceded defeat, repealing its own ordinance.
The plan is being billed as a compromise between the Housing Commission, which spearheaded the effort to increase the affordable-housing fee, and the Jobs Coalition, and Mayor Kevin Faulconer is on board.
“I promised to bring housing advocates and the business community to the table to work on a compromise and that’s exactly what happened," he said in an written statement provided by a spokesperson. "This deal strikes a fair balance that provides more funding for affordable housing without stifling economic development.”