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Board forms Pier 70 Infra & Revitalization Financing District for Hoedown Yard; landowner vote 100% in favor
Summary
The Board of Supervisors adopted an Infrastructure and Revitalization Financing District (IRFD) for Pier 70's Hoedown Yard to generate gap funding for on‑site affordable housing; a reported canvass showed three landowner votes cast, all in favor.
The San Francisco Board of Supervisors on Oct. 16 adopted resolutions and ordinances creating an Infrastructure and Revitalization Financing District (IRFD) for the Pier 70 Hoedown Yard and approved a financing plan to allocate future property‑tax increment to affordable housing and related infrastructure.
Brad Benson, representing the Port director, presented a staff and consultant briefing describing the Pier 70 Special Use District (35 acres) and a projected residential build‑out of roughly 1,600–3,000 units, with 30% of the project to be affordable. The proposed IRFD — commonly called an Infrastructure and Revitalization Financing District — would capture a portion of the property tax increment from development in a defined parcel (the Hoedown Yard) in order to provide gap funding for affordable housing parcels delivered…
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