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Port seeks up to $58.3M in Mission Rock special-tax bonds to reimburse infrastructure costs

Budget and Finance Committee · October 25, 2023
AI-Generated Content: All content on this page was generated by AI to highlight key points from the meeting. For complete details and context, we recommend watching the full video. so we can fix them.

Summary

Port and development partners briefed the committee on a proposed fourth series of Mission Rock special-tax (CFD) bonds of up to $58.3 million to reimburse developer horizontal infrastructure costs; presenters highlighted project progress, funding structure, and market/rate risks that affect proceeds.

Port staff and the Office of Public Finance on Oct. 25 presented two resolutions authorizing up to $58.3 million in special-tax bonds and related pledge actions for Mission Rock’s horizontal infrastructure.

Port representative Wyatt Donnelly Landau (and Port colleagues) described Phase 1 progress: Parcel A (The Canyon) is complete and occupied, Parcel B…

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