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Board, city and consultants continue work on Downtown Santa Rosa EIFD plan; first public hearing set for May 8
Summary
County and city staff described a draft Infrastructure Financing Plan for a Downtown Santa Rosa EIFD and sought board input on project priorities, tax-increment share and governance before formal public hearings begin May 8.
County and City of Santa Rosa staff and consultants on April 22 presented a working draft of the Downtown Santa Rosa Enhanced Infrastructure Financing District (EIFD) Infrastructure Financing Plan (IFP) and solicited the Board's input before the public-financing-authority (PFA) begins formal hearings.
The city and the county have proposed public-private financing to support catalytic downtown projects ' performing arts, sports and entertainment, and other investments ' plus a commitment to affordable-housing set-asides. The draft IFP proposes dedicating a portion of incremental property tax growth (50% of standard tax increment from the city and 25% from the county were discussed) to the EIFD over a 45-year period, with percentage caps and a maximum revenue projection included in the…
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