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Committee authorizes redevelopment agency to seek $28M bond issuance; budget amendment to follow
San Francisco Board of Supervisors — Budget & Finance Committee · February 24, 2010
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Summary
The committee agreed to authorize the Redevelopment Agency to proceed with issuance of up to $28 million in tax‑increment bonds to cover projects and the expected May ERAF payment, while the agency will return with a separate budget amendment if the cap is increased.
Amy Lee, Deputy Executive Director of the Redevelopment Agency, told the Budget & Finance Committee the agency sought authorization to issue up to $28 million in tax‑increment bonds to finance redevelopment activities and to manage timing for the state‑mandated ERAF payment (due May 10). Lee said if…
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