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PFA approves EIFD No.1 annual report; no IFP changes recommended
Summary
The Public Financing Authority held a public hearing and adopted Resolution 25-1 approving the EIFD No.1 annual report and the infrastructure financing plan review for fiscal year 2024–25. Staff recommended no changes to the IFP.
The West Sacramento Public Financing Authority held a public hearing May 21, 2025, and adopted Resolution 25-1 approving the Enhanced Infrastructure Financing District (EIFD) No. 1 annual report and the IFP annual review for fiscal year 2024–25. Staff recommended no changes to the infrastructure financing plan at this time.
Community Investment Manager Mark Polhemas presented the annual report and explained the district's structure. He said the EIFD includes 14 subareas and covers roughly one quarter of the city's land area. The district uses tax-increment revenues tied to assessed-value increases from the base year to fund public infrastructure; these revenues are not a new tax on property owners. "The district raises funds through property tax increment as a result of the assessed value increases related to growth and investment that occurs within district boundaries," Polhemas said.
Polhemas laid out recent fund activity in the EIFD: a budget transfer into the EIFD fund of $1,600,000 in fiscal year 2023–24, about $109,000 in interest and investment earnings for that year (totaling roughly $1.709 million in actual revenues), and nearly $171,000 in investment earnings in the current fiscal year. Staff reported that approximately $4,716,000 had been expended to date through appropriations to the I Street Bridge Replacement project and bond consultants; total appropriations to that project exceed $6 million when prior council appropriations are included.
Polhemas said staff does not recommend changes to the IFP at this time. No members of the public requested to speak during the hearing. After board discussion, the PFA adopted Resolution 25-1 by unanimous roll-call vote.
Action and vote: The PFA adopted Resolution 25-1 approving the EIFD number 1 annual report and the IFP annual review. The motion passed on a roll-call vote with all members present recorded as "Aye."
The annual report and IFP review are procedural steps required by EIFD law. Staff noted that the report uses unaudited current-year data and includes audited figures for the previous fiscal year as required by statute.
