Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Planning staff seek ROIs to form Central SoMa special tax district and to authorize up to $5.3 billion in bonding
Summary
Planning Department staff presented two Resolutions of Intent to establish a Central SoMa Special Tax District (a CFD) and to authorize bonded indebtedness not to exceed $5.3 billion; staff estimated about $2.2 billion in public benefits over 25 years, financing mechanics, exemptions for affordable housing, and proposed fee tiers and escalation rules.
Planning Department senior planner Lisa Chen briefed the Government Audit & Oversight Committee on Oct. 25 about the Central SoMa plan and two Resolutions of Intent (ROIs) that would begin the formal process to create a Central SoMa Community Facilities District (CFD).
Chen said the whole plan anticipates roughly 32,500 jobs and 8,600 new housing units at build‑out—about 16 million square feet of development—and estimated nearly $2.2 billion in public benefits over roughly 25 years. She explained that the CFD, structured as an "all annexation"…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
