Categories: Election

Prop. J hopes to preserve ‘legacy’ businesses

If San Francisco voters pass Proposition J, The City will create a fund for what are being called “legacy” businesses in order to help them stay in The City as costs increase and some longtime companies have been forced to find cheaper rents outside of town.

As it stands, The City has a registry of legacy businesses open to any business that has been in operation for 30 years or more and is headquartered in San Francisco. To get on the list the mayor or a supervisor must nominate a business.

There are 7,500 businesses in San Francisco that meet the new definition defined by the proposed law.

The new law would create a fund for businesses on the registry as well as for building owners who have rented to such businesses for a decade or more. The law would also redefine such businesses and nonprofits as having operated in The City for two decades or more and having contributed to the identity of their neighborhood and are at risk of being forced out.

Such businesses could get $500 grants annually for every full time employee in The City. Their landlords would also get a grant worth $4.50 for every square foot of space rented.

The bill’s language states the new law would cost at first $1.2 million a year. Once expanded to all eligible businesses in 25 years it would cost $30 million.

But a controller report on the law says it would cost The City significantly more. The program would cost $3.7 million in fiscal 2015-16. Over the next 25 years the price tag is estimated to grow from a low of $52 million to $94 million if all such businesses register.

Still, the law would not force any future mayor or the Board of Supervisors to fund the program, instead putting the program’s funds into the budget process.

The measure was put on the ballot by four supervisors John Avalos, David Campos, Jane Kim and Eric Mar.

Jonah Owen Lamb
Share
Published by
Jonah Owen Lamb

Recent Posts

3 rescued at Aquatic Park, 1 with serious injuries

Fire department crews rescued three people at Aquatic Park in San Francisco Thursday morning, including one person who has suffered…

1 hour ago

Calling for help shouldn’t leave tenants at risk for eviction

Last month, California took an important step toward keeping residents safe in their homes. Governor Jerry Brown signed into law…

7 hours ago

The changing face of diversity: more Asians entering America than Latinos

More minority babies are being born in the country today than ever before. In San Francisco — a city where…

8 hours ago

SFUSD needs a better plan for Lowell admissions

On Sept. 25, the San Francisco Board of Education (SFUSD) plans to vote on an unprecedented proposal that weakens Lowell…

8 hours ago

San Francisco has gone to the dogs

I’ve got a pretty fantastic living situation. Solid rent control, great roommates, centrally located. Sure we don’t have a living…

8 hours ago

Protections against gender identity harassment

This week’s question comes from Lindsay in San Francisco, who writes: Q: A coworker with whom I work closely recently…

8 hours ago