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Committee advances Pier 70 CFD and bond-intention resolutions for 1,600-unit project to the Board
Summary
The GAO Committee recommended four resolutions that initiate the formation of two community facilities districts (condominiums and leased properties) and set not-to-exceed bond amounts to help fund public infrastructure for the Pier 70 development, which includes more than 1,600 housing units and at least 470 on-site affordable units. The measures were forwarded to the full Board without objection.
The Government Audit & Oversight Committee on Nov. 13 advanced four interrelated resolutions to the full Board of Supervisors that would begin the process of forming two community facilities districts (CFDs) and allow future bonded indebtedness to finance public infrastructure for the Pier 70 development.
Supervisor Shamann Walton described Pier 70 as "an important project in District 10 with over 1,600 units of new housing and at least 470 on-site affordable housing units," and urged committee support for the CFDs, which finance parks, roads, sewer and shoreline…
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