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Committee backs authorization for $41.34M in Treasure Island special tax bonds
Summary
The Budget & Finance Committee recommended that the Board authorize up to $41,340,000 in non‑rated special tax bonds for Improvement Area 1 (Yerba Buena Island) to reimburse developer infrastructure and fund issuance costs; staff noted a required minimum 3:1 value-to-lien ratio and development risks.
The Budget & Finance Committee on May 19 recommended authorization of up to $41,340,000 in special tax bonds for Improvement Area No. 1 of the Treasure Island Community Facilities District, which covers development on Yerba Buena Island.
Luke Brewer of the Comptroller's Office of Public Finance told the committee these are non‑rated,…
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