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.
Resolution establishing the San Francisco Downtown Revitalization and Economic Recovery Financing District, approving the Downtown Revitalization Financing Plan, including the division of taxes set forth therein, and documents and actions related thereto, and authorizing the filing of a judicial validation action.
How it got here
The legislation to establish the San Francisco Downtown Revitalization and Economic Recovery Financing District originated from a need to revitalize downtown and convert commercial properties into residential units.
The Board adopted Resolution No. 279-25, declaring its intention to establish the Downtown Revitalization District to finance commercial-to-residential conversion projects.
The Board established the Board of Directors for the Downtown Revitalization District through Ordinance No. 82-25.
The Board of Directors adopted Resolution No. 2025-01, directing the Executive Director to prepare a Downtown Revitalization Financing Plan.
The Board held its first public hearing to present the draft Downtown Revitalization Plan, including a fiscal impact analysis.
The Board held its second public hearing on the draft Downtown Revitalization Plan, which was properly noticed and conducted.
The Budget and Finance Committee held a public hearing to consider the resolution establishing the Downtown Revitalization District.
The Board of Supervisors adopted the resolution establishing the Downtown Revitalization District and approving the Financing Plan.
The Mayor approved the resolution, finalizing the establishment of the Downtown Revitalization District.
Reconstructed from attached documents & the official record
