The city projects a deficit of $728 million over the next two fiscal years.
In short, the publication writes, citing experts, that the post-pandemic problems caused by office workers staying at home instead of traveling to the city could plunge San Francisco into a “doomsday loop” (Doom Loop) that will destroy, destroy, its tax base. drags regional transportation systems into an “economic death spiral”.
The mayor has proposed more than 100 changes to simplify the permitting process for small businesses, and legislation to make it easier to convert office buildings into residences. According to a study by SPUR and the Urban Land Institute San Francisco, approximately 40% of office buildings in downtown San Francisco could be converted into 11,200 residences.
Source: Ferra
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