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Board approves formation of Power Station special-tax district; election, bond steps to follow
Summary
The San Francisco Board of Supervisors held a public hearing March 8 and voted to form Special Tax District No. 2022‑1 — the Power Station Improvement Area — a financing mechanism tied to the mixed‑use redevelopment of the former Potrero Power Station and adjacent Port lands.
The San Francisco Board of Supervisors held a public hearing March 8 and voted to form Special Tax District No. 2022-1 — the Power Station Improvement Area — a financing mechanism tied to the mixed‑use redevelopment of the former Potrero Power Station and adjacent Port lands.
The board adopted three resolutions: to form the district, to determine the necessity to incur bonded indebtedness, and to call a special election for the proposed taxes. The board also amended the formation resolution to include an updated rate-and-method document. Two related items — a resolution declaring the special‑election results and an ordinance that would levy the taxes — were continued to the March 22 meeting so the single‑elector special election can occur and results be certified.
John Lau, deputy director, Office of Economic and Workforce Development, said the district would support public benefits negotiated in the project’s…
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