Developer is the main financier for Hunters Point proposition 

In the last month, the developer in line to rebuild Candlestick Point and the former Hunters Point Shipyard has spent about $800,000 to generate support for a measure going before voters next month that would signal approval for the major redevelopment project, bringing its total spending to $3 million, according to campaign-finance statements filed Thursday.

Proposition G asks voters to "encourage the timely development" of the new mixed-use project and authorizes a park land-swap needed to go forward with the redevelopment plan. Developer Lennar Corp. has bankrolled Prop. G as well as provided support to the campaign against Prop. F, a measure that would require the project to provide 50 percent of the new housing at below-market rates — a mandate that Lennar and city officials say would financially kill the project.

Prop. G has the support of Mayor Gavin Newsom, while Prop. F, which was put on the ballot through a signature campaign, is supported by Supervisor Chris Daly, who often wages the fiercest political battles against Newsom.

Lennar’s money has paid for polling services, consultants, television advertisements, mailers and attorneys, according to the campaign finance statements. The campaign for Prop. G has no other financial supporters other than Lennar, according to finance records.

The political committee in support of Prop. F, the Bayview Committee for Affordable Housing, in comparison, reported having raised approximately $7,000, and spending not much more than $4,000 this year on its campaign. Expenditures made since March 18, include $2,400 for printing of campaign materials and $614 for buttons.

The committee received only a handful of donations, including $1,508 from Coleman Advocates for Children and Youth and $1,749 from low-income advocate group People Organized to Win Employment Rights.

Lennar’s redevelopment plans for Bayview-Hunters Point include up to 10,000 new homes, parks, business space and a new 49ers stadium, if the team elects to stay in San Francisco.

On Tuesday, the developer announced it struck a deal with the San Francisco Labor Council and would offer 32 percent of housing at below-market rate, up from the 25 percent the developer had previously promised.

Lennar also contributed to the "No on Prop. F" campaign, which also received financial support from several labor organizations.

Despite the dramatic difference in spending, recent reports have shown both measures polled to win.

Tags: ,

Pin It

More by Joshua Sabatini

Latest in Government & Politics

Tuesday, Mar 20, 2018


Most Popular Stories

© 2018 The San Francisco Examiner

Website powered by Foundation