This ordinance allows for the creation of a governing body, called the Enhanced Infrastructure Financing District Public Financing Authority No. 1, to oversee multiple enhanced infrastructure financing districts in San Francisco. It aims to facilitate funding for infrastructure projects in these areas.
Ordinance amending the Administrative Code to provide for Enhanced Infrastructure Financing District Public Financing Authority No. 1 to act as the governing body of multiple enhanced infrastructure financing districts.
How it got here
The legislation originated from the need to establish a governing body for multiple enhanced infrastructure financing districts in San Francisco, prompted by the development of the Potrero Power Station Project.
The Board adopted Resolution No. 133-23, declaring the intention to establish the San Francisco Enhanced Infrastructure Financing District No. 1 (Power Station) to finance public capital facilities related to the Potrero Power Station Project.
The Board passed Ordinance No. 044-23, establishing the Enhanced Infrastructure Financing District Public Financing Authority No. 1 to act as the legislative body for the Power Station EIFD.
The Board introduced an ordinance amending the Administrative Code to allow the Enhanced Infrastructure Financing District Public Financing Authority No. 1 to govern multiple EIFDs.
The Budget and Finance Committee recommended the ordinance for passage.
The Board passed the ordinance on first reading.
The Board finally passed the ordinance.
The Mayor approved the ordinance, finalizing its enactment.
Reconstructed from attached documents & the official record
This resolution establishes an Enhanced Infrastructure Financing District at 3333/3700 California Street to fund public facilities and projects that benefit the community. It outlines the financial mechanisms and related matters necessary for these developments.
This resolution approves a financing plan for the Enhanced Infrastructure Financing District No. 3 at 3333/3700 California Street, which includes tax divisions and related agreements. It also authorizes the city to file a legal action to validate the plan.
This resolution approves a financial plan for the Stonestown area to fund infrastructure improvements through tax divisions and related agreements. It also authorizes the city to seek judicial validation of these actions.
