Fresno EIFD authority accepts FY 2024–25 annual report; no projects yet, staff to return with bond-capacity update

The Fresno Enhanced Infrastructure Financing District (EIFD) Public Financing Authority on June 23 held a public hearing and approved the EIFD’s annual report for fiscal year 2024–25, a report required by state law.

The authority found the district has accumulated tax-increment revenue since collections began but has not undertaken or expended funds on any projects to date. Santino D’Nisi, controller for the City of Fresno, told the authority the annual report was made available to the public 30 days before the meeting and that “there aren't any projects that have been undertaken, to this point.”

The report, D’Nisi said, covers five standard sections: description of projects (none reported), a comparison of anticipated versus actual revenue, a cumulative increment-revenue table, an assessment of project completion status (blank because no projects exist), and disclosure of any revenues expended to assist private businesses (none). He also said mailed notice to property owners within the district had been sent in accordance with the code.

Public commenters raised local…