Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Board approves Treasure Island amendments, adds financing language limiting COP tranches
Summary
Supervisor Dorsey asked the board to approve amendments and financing language to keep Treasure Island redevelopment moving forward, including a requirement that certificates of participation be issued in no more than one tranche per fiscal year and only after the city's 10-year capital plan demonstrates capacity.
Supervisor Dorsey, joined by Mayor Breed as sponsor, asked the Board of Supervisors on April 23 to approve a package of amendments intended to keep the Treasure Island/Yerba Buena Island project moving into its next development stage.
The amendments and related ordinances approved by the board affect the Treasure Island Community Development/Yerba Buena Island project and its financing plan, and are intended to advance affordable housing, a behavioral health building, parks, and other infrastructure for the island community. "When complete, Treasure Island will be 27% affordable with a high quality public realm that offers parks and open spaces, waterfront access, and amenities," Supervisor Dorsey said.
Treasure Island matters locally because the site is home to roughly 2,000 residents, many of whom are low-income and members of BIPOC and reentry communities. Dorsey said the changes would "finally make good on promises long made to current residents"…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
