SFGTV April 24, 2014
Fee from the Mayors Office schedule. Its barely enough to compensate them for two things. One the time they take on the development and the risk. These developers in San Francisco are guaranteeing that tax credit equity and the repayment of the debt on the property. And in exchange they get less than the maximum developer fee, because thats the citys practice. And they get a restricted cash flow, because thats also the citys practice. And in part because we subsidize those developments or heavily. The developers are doing this in part, because they are part of the solution and part of Affordab...