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OCII OKs intent to form $6 billion community facilities district for Hunters Point/Candlestick
Summary
The Commission on Community Investment and Infrastructure approved resolutions of intent to form Community Facilities District No. 9 and to incur bonded indebtedness, clearing an early step toward up to $6 billion in financing for infrastructure, shoreline adaptation and long‑term maintenance in the Hunters Point Shipyard/Candlestick Point area.
The Commission on Community Investment and Infrastructure voted Feb. 20 to approve two resolutions of intention that start the process to form Community Facilities District No. 9 for Hunters Point Shipyard Phase 2 and Candlestick Point and to authorize incurring bonded indebtedness not to exceed $6,000,000,000.
Deputy director of finance Grama Hoarder told the commission the proposed CFD — which would initially create Improvement Area 1 covering four parcels — would allow the successor agency to levy a facilities special tax and a services special tax to reimburse the developer for qualified infrastructure costs and to fund operations and maintenance in perpetuity. "Once we form the CFD, we will levy a…
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