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Rules Committee approves ordinance (as amended) to create EIFD and PFA for Potrero Power Station redevelopment
Summary
The committee voted unanimously to forward an ordinance to establish an Enhanced Infrastructure Financing District and a Public Financing Authority for the Potrero Power Station redevelopment, including a Walton amendment assigning initial administrative support to the Controller’s Office; staff said 30% of housing will be affordable and the EIFD could access up to 50% of annual tax increment within policy limits.
The Rules Committee on March 20 voted to forward an ordinance (as amended) to establish an Enhanced Infrastructure Financing District (EIFD) and a Public Financing Authority (PFA) for the Power Station (the former Potrero Power Station) redevelopment project.
Lee Lutenski, deputy director of OEWD's joint development team, and Anna Vandegna, the Controller’s Office public finance director, presented the proposal. They described the 29‑acre site on the central waterfront and said the master plan and a 2020 development…
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