Committee refers Port financing amendments for Mission Rock and Pier 70 to full board

Port of San Francisco finance staff briefed the Rules Committee on July 29 about proposed amendments to the city administrative code (Article 43.1) to allow special tax financing for Mission Rock and Pier 70 and the committee voted to refer the ordinance to the full Board of Supervisors with a positive recommendation.

Wyatt Donnelay Landau of the Port finance team described the projects: Pier 70 (District 10) is roughly 35 acres and Mission Rock about 28 acres. Landau said Pier 70 is anticipated to include 1,600–3,000 housing units and Mission Rock about 1,500 residential units, with substantial commercial square footage and multiple acres of open space. He told the committee that 30% of housing at Pier 70 and 40% at Mission Rock would be affordable on‑site (with Mission Rock units targeted between 45% and 150% of area median income, per the presentation).

Landau explained the financing approach: initial horizontal infrastructure (streets, sewer, power) would be funded by developer and Port capital, repaid through community facilities districts (CFDs) and Infrastructure Financing Districts (IFDs) that capture tax increment or levy a special tax; bonds would eventually refinance the work. He said there are two main amendment buckets: clarifying existing law and authorizing rehabilitation of historic buildings, seismic work and entitlement costs.

During questioning, supervisors asked Landau to clarify the difference between CFDs and IFDs and whether any proceeds would fund transportation improvements; Port staff said roads and streets are eligible and offered to follow up with specific allocations. Public comment included a speaker who again criticized the calculation and targeting of affordable units and urged alternative approaches to distributing housing opportunities. The committee moved the referral without objection; the ordinance will return to the board for further hearings.