In a recent government meeting, San Francisco County officials discussed significant financial strategies aimed at supporting infrastructure and affordable housing projects within the Treasure Island area. The meeting highlighted the issuance of Community Facilities District (CFD) and Infrastructure Revitalization Financing District (IRFD) bonds, which are crucial for funding ongoing developments.

The CFD bonds, secured by special taxes from Improvement Area Number 2, are designed to finance various project costs, including geotechnical work and public infrastructure. The bonds will generate approximately $10 million, with $8.3 million allocated to reimburse the developer for prior expenses and $1.4 million earmarked for affordable housing initiatives. The anticipated debt service over the life of these bonds is projected to be around $32.6 million, with a true interest cost estimated at 6.6%.

In addition, the IRFD bonds will support the financing of affordable housing, specifically a planned 150-unit project by the John Stewart Company and Catholic Charities, expected to commence in November 2026. The total debt service for these bonds is estimated at $19.6 million, with a true interest cost of 6.4%.

Officials emphasized the importance of these financial instruments in mitigating risks associated with real estate market fluctuations and ensuring the successful development of properties. The bonds are not obligations of the city’s general fund, which means they are secured solely by the special tax revenues generated from the designated improvement areas.

The meeting concluded with a call for the Board of Supervisors to approve the proposed bond resolutions, which are seen as vital steps toward enhancing infrastructure and addressing the pressing need for affordable housing in San Francisco County. As these projects move forward, they are expected to play a significant role in the region's economic development and community welfare.