By Marc Arguello
Proposition J would establish a legacy business historic preservation fund. If approved, a ‘legacy list’ of businesses in the city that have been around for at least 20 years would be eligible to receive benefits from the city. Any business that the city considers to be a legacy business would receive $500 for every full-time employee under its employ, and property owners that lease to any business on the list would be compensated $4.50 per square-foot provided they agree to lease the space to the business for at least 10-years.
According to the analysis from the city controller, the measure would cost the city about $3.7 million for the 2015 to 2016 fiscal year, although the actual costs of the proposition would depend on the size of the approved budget and number of businesses on the list.
Proposition J is supported by the San Francisco Democratic party, the San Francisco Labor Council, and the South Beach Mission Bay business association.
Prop J is opposed by the San Francisco Republican Party and San Francisco Moderates. The Libertarian party also opposes prop J. The San Francisco Taxpayers association has voiced its opposition to prop J as well.