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Board validates Pier 70 special-tax elections, authorizes bond issuance and levies
Summary
The Board declared unanimous landowner-election results for two Pier 70 special tax districts and adopted resolutions to authorize issuance of bonded indebtedness and ordinances to levy special taxes for infrastructure and services in both districts.
The San Francisco Board of Supervisors on Jan. 28 considered and adopted a set of measures tied to two Special Tax Districts (Pier 70) after receiving canvass results from the Department of Elections that favored the measures.
Items 17—19 covered Special Tax District No. 2019-1 (Pier 70 Condominiums); items 20—22 covered Special Tax District No. 2019-2 (Pier 70 leased properties). The measures allow the city to levy special taxes on property in each district to finance authorized infrastructure and services and authorize the issuance of bonded indebtedness for the districts.
What the board received and decided
The clerk reported a canvas submitted by the Director of the Department of Elections showing that, in both landowner elections held Jan. 27, 2020, all returned ballots were in favor of creating the special tax districts and the associated assessments. Based on that result, the board considered and adopted resolutions to declare election results, authorize issuance and sale of bonded indebtedness, and pass ordinances levying special taxes in each district.
Key details
- Purpose: To levy special taxes on property within each Special Tax District to pay for authorized infrastructure and services in the Pier 70 development area. - Election: A special landowner election for each district was held Jan. 27, 2020, and the Department of Elections canvass reported unanimous support among returned ballots. - Financial authorization: Item language on the agenda included a maximum aggregate principal amount for district debt in at least one of the items: up to $1,700,000,000 for an authorized issuance described on the agenda (item 18). Specifics for each issuance and levy are recorded in the adopted resolutions and ordinances on file with the Clerk.
Outcome
The board adopted the resolutions declaring the election results, ratified authority to issue bonds and other indebtedness where specified on the agenda, and passed the related ordinances on first reading unanimously.
Why it matters
Special tax districts create a funding mechanism that can bind property owners in a defined area to levy assessments dedicated to capital improvements and services. Board members briefly reviewed the canvass and moved the items together; the unanimous landowner results and unanimous board votes completed the procedural steps required to form the districts and lay the groundwork for financing Pier 70 improvements.
Ending note
Clerk and staff indicated the full texts of the resolutions and ordinances, including maximum issuance amounts and assessment formulas, are on file with the board and the controller for implementation and recording.
