City Approves Central Market/Tenderloin Payroll Tax Exclusion
Mayor Edwin M. Lee today issued the following statement after the Board of Supervisors voted to approve the ordinance amending Article 12-A of the Business and Tax Regulations Code by adding Section 906.3 to establish a payroll expense tax exclusion for businesses located in the Central Market Street and Tenderloin Area:
“This moment represents a real step forward in the effort to revitalize and transform the Central Market area. Central Market and the Tenderloin have been burdened with high vacancies and blight for decades, and the Central Market / Tenderloin Payroll Tax Exclusion is a powerful tool that will help us bring in much-needed jobs, services and retail, as well as help enhance the growing arts district here. Read more.