Board approves Pier 70 infrastructure financing district measures after adding community facilities district language

The Board of Supervisors convened as a committee of the whole Feb. 23 and approved measures to create an Infrastructure Financing District (IFD) for Port of San Francisco redevelopment, including subproject area G-1 covering Pier 70’s historic core.

Supervisor Malia Cohen introduced the IFD resolutions and ordinance, emphasizing the need to fund parks, streets, and electrical infrastructure at Pier 70 and to avoid the city’s general fund assuming ongoing maintenance costs. The Budget and Legislative Analyst (BLA) recommended that the board amend the proposed ordinance to reiterate the city’s intent to form a Community Facilities District (CFD) to finance ongoing maintenance for new infrastructure such as Crane Cove Park; supervisors adopted that amendment.

The BLA’s report recommended early formation of a CFD so that maintenance costs for park and other infrastructure would be the developers’ responsibility rather than the city’s general fund. Controller Ben Rosenfield and BLA staff presented the recommendation and flagged the need to include CFD language so that future operation and maintenance costs are sustainable.

Supervisors voted to approve the ordinance and related resolutions as amended; the vote on the amendments and final items was unanimous. The board also adopted a related resolution authorizing bond issuance for the IFD (amount not to exceed $25.1 million with respect to the Pier 70 subproject area G-1), and authorized associated agreements and an MOU.

The amendment added language clarifying the city’s intent to use a CFD to fund ongoing maintenance costs, and instructed additional study and reporting in follow-up steps. Port staff and BLA staff said the CFD formation would protect the general fund from long-term maintenance obligations associated with new park and infrastructure investments at Pier 70.