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Supervisors advance Treasure Island amendments that accelerate infrastructure financing with COP guardrails
Summary
Supervisors' Budget and Finance Committee advanced amendments to the Treasure Island Disposition and Development Agreement that would permit three tranches of Certificates of Participation (up to $115 million) to accelerate stage‑2 infrastructure, add guardrails and require COP issuance only after the 10‑year capital plan demonstrates capacity.
The committee on April 17 forwarded to the full Board a legislative package of technical and fiscal amendments intended to keep Treasure Island and Yerba Buena Island’s next stage of development on schedule. Supervisor Shamann Walton and Supervisor Ahsha Safaie's successor (sponsor Supervisor Dorsey) described the changes as necessary to preserve momentum for affordable housing, parks and essential infrastructure.
City and Treasure Island Development Authority (TIDA) staff said construction costs and permitting delays have outpaced the original…
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