PRESS RELEASE: Supervisor Mark Farrell to Call for Economic Impact Report on San Francisco’s Zoning and Land-Use Regulations
SAN FRANCISCO — At today’s meeting of the San Francisco Board of Supervisors, Supervisor Mark Farrell will publicly call on the City’s Chief Economist to produce an economic impact report on San Francisco’s zoning and land-use regulations.
“Overly restrictive zoning and land-use regulations not only impact us here locally, but also impact the region and nation in terms of economic inequality and opportunity,” said Supervisor Mark Farrell. “We need to strike a balance between protecting our neighborhood diversity in San Francisco and policies which promote sustainable, long-term growth.”
Supervisor Farrell is specifically requesting that San Francisco’s Chief Economist produce an economic impact report that examines the impact of San Francisco’s zoning and land-use regulations on:
· Residential housing costs;
· Commercial and office space costs;
· Economic mobility;
· Economic productivity;
· Income inequality;
· Jobs creation, or loss;
· Gross Domestic Product;
· And, any other area the Chief Economist deems necessary and important
The discussion around the impacts of zoning and land-use regulations, especially in coastal cities, has started in earnest as research and studies have been released from economists at University of California Berkeley, the University of Chicago, and from the Chairman of the Council of Economic Advisors for the White House. Early research and studies suggest that overly restrictive zoning and land-use regulations do have far-reaching impacts on housing costs, economic inequality, mobility, and productivity.
“San Francisco can and should be a shining example of how to plan for growth responsibly, and on how to nurture that growth so that rising economic tides lifts all boats,” said Supervisor Mark Farrell. “For the first-time in the City’s history, this report will quantify the impacts our local zoning and land-use regulations, and provide the base to move forward on implementing policies that will benefit all San Franciscans.”
Supervisor Farrell plans to host a hearing on the report at a Board of Supervisors committee once it is released, which is expected to be in early Fall.