Development art fee not living up to potential

A new city report shows developers are meeting San Francisco’s art fee requirement — 1 percent of a project’s cost — by paying for onsite art and not contributing to the fund. Developers have the option to do either. For some, it’s a missed opportunity to have desperately needed revenue to counter the displacement of artists and preserve The City’s creative spirit. The revenues could bolster art organizations and assist artists being squeezed by rising real estate costs.If the trend continues, the fund won’t see any of the $19.1 million expected in art fee revenues from 94 developments underway or in the approval proces

Source: Development art fee not living up to potential – The San Francisco Examiner : The San Francisco Examiner