What is the purpose of the South of Market Redevelopment Plan Amendment?
The Plan Amendment would enhance the revitalization program for the South of Market (SOM) Project Area, especially along the Sixth Street Corridor. The existing SOM Earthquake Recovery Redevelopment Plan was adopted to address damage from the Loma Prieta Earthquake and to provide economic assistance to neighborhood-serving businesses and related establishments. The Plan Amendment would include but not be limited to the following key actions: Increase the scope of redevelopment activities to address a range of blighting conditions in the area. Adopt new redevelopment goals and objectives developed by the PAC. Expand the boundary of the original Project Area to include the area around Bessie Carmichael School. Authorize Owner Participation Agreements and the ability of the Agency to acquire certain limited kinds of blighted properties through eminent domain, if owners are unwilling to address the blight themselves or negotiate a fair market value sale. Extend the Agencys ability to incur
