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Planning Commission backs Treasure Island package, including $115 million COP financing
Summary
The San Francisco Planning Commission recommended approval of planning-code, zoning-map and development agreement amendments for Treasure Island/Yerba Buena Island, including a staff-backed package to accelerate $115 million in city certificates of participation to fund Stage 2 infrastructure and preserve a 27% affordable housing commitment.
The San Francisco Planning Commission on April 4 recommended that the Board of Supervisors approve a package of amendments to the Treasure Island/Yerba Buena Island development agreement, zoning map and the project’s Design for Development.
Staff framed the package as a set of technical updates and fiscal changes intended to keep the project moving after rising construction and infrastructure costs. "The basic infrastructure costs alone total $1,400,000,000," Lee Lewinsky of the Office of Economic and Workforce Development told commissioners during the presentation. He described a proposal to accelerate $115,000,000 in city general‑fund certificates of…
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