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Committee advances Treasure Island infrastructure financing plan amid affordable‑housing shortfall
Summary
The Budget & Finance Committee recommended forwarding a resolution approving the Infrastructure Financing Plan (IFP) for Treasure Island’s proposed financing district; analysts noted an estimated affordable‑housing shortfall of about $381.4 million and projected tax‑increment of roughly $1.9 billion over the district term.
The San Francisco Board of Supervisors Budget & Finance Committee on Nov. 16 recommended that the full Board consider the Infrastructure Financing Plan (IFP) establishing an Infrastructure and Revitalization Financing District (IFD/CFD) for the Treasure Island redevelopment.
The IFP, presented by city staff, is one of 17 pieces of legislation to form the district. Staff said the IFD and companion community facilities district (CFD) are intended to reimburse the developer for eligible infrastructure costs, help fund affordable housing on the island, create a capital reserve for sea‑level‑rise…
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