Supervisors approve Moscone Expansion business improvement district and move ahead with $507.88 million financing plan

The San Francisco Board of Supervisors voted unanimously Tuesday to establish the Moscone Expansion Business Improvement District and to proceed with first-reading approval of financing measures tied to a planned expansion of the Moscone Convention Center.

The board adopted a resolution creating the Moscone Expansion District after city election officials reported $14.36 million in weighted “yes” votes — 79.2 percent of the proposed assessments for the district’s first year — and a combined weighted ballot participation representing 82.1 percent of the proposed assessments. "Total weighted yes votes were $14.36 million, or 79.2 percent of the total proposed assessments in the district," the clerk reported during the meeting.

The district will levy assessments on defined hotel businesses in a roughly South of Market area to help fund a package of improvements tied to a Moscone expansion. The board also gave first-read approval to ordinances to appropriate up to $507,880,000 in…