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The city’s contribution will also provide $250 a semester to full-time, low-income students who already receive a state-funded fee waiver. They will be able to use the money to pay for books, transportation, school supplies and health fees. Part-time students with fee waivers will get $100 a semester for the same purpose.
Prop. W is expected to raise $44 million annually, with most going into the city’s general fund. The new deal will send $5.4 million of that to students — not to City College — for their fees. Of that, $2.1 million a year for two years has been committed to students for their free education at City College, after which the allocation would have to be renewed by the city. The remainder will go to the students who already have fee waivers.
Shall the City increase the transfer tax rate for sales of residential and commercial properties from 2% to 2.25% for sales from $5 million up to $10 million; from 2.5% to 2.75% for sales from $10 million up to $25 million; and from 2.5% to 3% for sales of $25 million or more?