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SF sees significant increase in revenue from developer impact fees

January 10, 2015

By sfexaminer – excerpt

As San Francisco real estate prices have soared like high-rises sprouting across the cityscape, so has the revenue from fees associated with the booming development, a city controller’s report shows.

The new report, which illustrates varying development-impact fees and the revenue generated for city coffers, found that the revenue has more than doubled in the previous two fiscal years. In fiscal year 2013-14 developers paid $96.1 million in combined impact fees, compared with $46 million in the previous fiscal year. In fiscal year 2011-12 impact fees netted just $12.3 million.

The City has required developers to pay impact fees per project as a way to address the impacts of development on infrastructure like roadways, parks and transit, as well as neighborhoods facing challenges of rising rents and evictions… (more)

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