Inclusionary Housing Financial Analysis Report prepared by Seifel Consulting for San Francisco Mayor's Office of Housing, December 2012.
San Francisco’s Inclusionary Housing Program represents a significant resource for the production of affordable housing in the City of San Francisco. The Program allows developers several options to provide affordable housing as part of any new residential development in the City. In 2006, the Program was modified, and the Program ordinance required a financial program evaluation to occur five years after program implementation.
The San Francisco Mayor’s Office of Housing (MOH) administers the Program and retained Seifel Consulting Inc. (Seifel) to evaluate the financial viability of the Program in 2012, given changes in residential development conditions that have occurred since 2006. The information and findings in this report have been developed based on extensive input from a Technical Advisory Committee (TAC), as well as information and insights gathered from City staff and local developers, contractors, and other knowledgeable real estate professionals.
The report begins with a summary of the existing Program and an overview of the changes in thedevelopment climate that have occurred since 2006. The report next describes the four development prototypes that were chosen and the results of the financial analysis for each of the prototypes under the alternative methods of Program compliance. The report concludes with an overview of how the Program affects development within different geographic areas and presents more generalized conclusions.
|File Size:||14.64 MB|
|Last Updated Date:||01-15-2014|