This resolution authorizes the City to treat the Stage 2 Contribution as debt for the Treasure Island Community Facilities District, confirming the annexation of property as Improvement Area No. 3. It also addresses related matters concerning the district's financing and improvements.
Resolution authorizing the Stage 2 Contribution as debt of the City and County of San Francisco Community Facilities District No. 2016-1 (Treasure Island) with respect to one or more improvement areas; confirming that property is annexed to the City and County of San Francisco Community Facilities District No. 2016-1 (Treasure Island) as Improvement Area No. 3 of the City and County of San Francisco Community Facilities District No. 2016-1 (Treasure Island); and determining other pertinent matters in connection therewith.
How it got here
The legislation originated from the need to authorize funding for infrastructure improvements on Treasure Island as part of a broader development project.
The City established the Treasure Island Development Authority to oversee the reuse and development of the former Naval Station Treasure Island.
The Authority selected Treasure Island Community Development, LLC as the master developer for the Treasure Island and Yerba Buena Island project.
The Board approved the Disposition and Development Agreement, which outlines the development plans for Treasure Island.
The Board approved an amendment and restatement of the Development Agreement, which included a new financing plan for the project.
The Board approved an amended financing plan that allows for the issuance of Certificates of Participation to fund infrastructure improvements.
The Board adopted a resolution authorizing the Stage 2 Contribution as debt for the Community Facilities District No. 2016-1, confirming the annexation of property as Improvement Area No. 3.
The Mayor approved the resolution authorizing the Stage 2 Contribution, finalizing the legislative process.
Reconstructed from attached documents & the official record
This ordinance allocates $65,550,000 to the Treasure Island Development Authority for infrastructure projects. It includes funding from various sources, such as Certificates of Participation and special taxes, and sets these amounts aside for the fiscal year 2024-2025.
This resolution allows the City and County of San Francisco to treat the Stage 2 Contribution for the Treasure Island Infrastructure and Revitalization Financing District as city debt. It also addresses related administrative matters.
This ordinance allocates $65,550,000 to the Treasure Island Development Authority for infrastructure projects. It includes funding from various sources, such as Certificates of Participation and special taxes, and sets these amounts aside for the fiscal year 2024-2025.
This resolution allows the City and County of San Francisco to treat the Stage 2 Contribution for the Treasure Island Infrastructure and Revitalization Financing District as city debt. It also addresses related administrative matters.
