This resolution establishes a special tax district in San Francisco for a specific area, known as Improvement Area No. 1, and sets a hearing date for March 8, 2022, to discuss related matters. It aims to facilitate improvements and funding for the designated area.
Resolution of Intention to establish City and County of San Francisco Special Tax District No. 2022-1 (Power Station), Improvement Area No. 1 and a Future Annexation Area; setting a hearing date for March 8, 2022, at 3:00 p.m.; and determining other matters in connection therewith, as defined herein.
How it got here
The legislation to establish the City and County of San Francisco Special Tax District No. 2022-1 (Power Station) originated from the need to finance infrastructure and public services for the Potrero Power Station development project.
The Board approved a Development Agreement with California Barrel Company LLC for the Potrero Power Station project, which included provisions for forming a Special Tax District.
The Planning Commission certified the Final Environmental Impact Report for the Potrero Power Station project, which included findings and a Mitigation Monitoring and Reporting Program.
The property owner submitted a petition to the Board of Supervisors to create the Special Tax District, which would finance public services and infrastructure for the project.
The Board received and assigned the Resolution of Intention to establish the Special Tax District, marking the first step in the legislative process.
The Budget and Finance Committee amended the resolution and recommended it for adoption by the full Board.
The Board adopted the Resolution of Intention to establish the Special Tax District, setting a public hearing date for March 8, 2022.
A public hearing was held regarding the establishment of the Special Tax District, with further actions planned for the Board to approve the formation and levy special taxes.
Reconstructed from attached documents & the official record
This resolution allows San Francisco to borrow money through bonds for the Special Tax District No. 2022-1, which is related to a power station project. It also addresses other related financial matters.
This ordinance amends the development agreement for the Potrero Power Station project to create the San Francisco Enhanced Financing District No. 1. It also includes environmental findings and confirms alignment with the city's General Plan and planning policies.
