This ordinance creates a Board of Directors for the San Francisco Downtown Revitalization and Economic Recovery Financing District, outlining its membership and responsibilities. The board will focus on revitalizing and supporting economic recovery in the downtown area.
Ordinance amending the Administrative Code to establish and define the membership and duties of the Board of Directors of the San Francisco Downtown Revitalization and Economic Recovery Financing District.
How it got here
The legislation to establish the Board of Directors for the San Francisco Downtown Revitalization and Economic Recovery Financing District originated from the need to facilitate the conversion of commercial properties to residential use in response to changing economic conditions.
Mayor Lurie submitted an ordinance to amend the Administrative Code to establish and define the membership and duties of the Board of Directors of the San Francisco Downtown Revitalization and Economic Recovery Financing District.
The Board of Supervisors assigned the ordinance under the 30-day rule to the Rules Committee for further consideration.
OEWD presented an overview of the Downtown Revitalization Financing District, highlighting the need for a governing board and the process for establishing it.
The Rules Committee recommended the ordinance for passage, emphasizing its importance for downtown recovery.
The Board of Supervisors amended the ordinance and passed it on first reading, establishing the framework for the Board of Directors.
The Board of Supervisors finally passed the ordinance, officially establishing the Board of Directors for the Downtown Revitalization District.
Mayor Lurie approved the ordinance, allowing the establishment of the Board of Directors to proceed.
Reconstructed from attached documents & the official record
This resolution creates a financing district aimed at revitalizing downtown San Francisco and supports a plan for economic recovery through tax division. It also allows for legal actions to confirm the plan's validity.
