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Supervisors ask TIDA to study how to raise Treasure Island affordability to up to 40%
Summary
The Land Use Committee heard a TIDA presentation laying out options — infrastructure financing districts (AB 2/EIFD/IRFD), bonding against future tax increment and possible general‑fund subsidies — and asked staff and the TIDA board to produce pro formas and recommendations on funding scenarios including 27%, 30% and 40% affordability.
Chair Supervisor Malia Cohen recalled a resolution from Supervisor Jane Kim urging the Treasure Island Development Authority (TIDA) to produce recommendations to raise the project—s affordable-housing share toward 40%. Bob Beck, TIDA director, told the committee the adopted 2011 housing plan envisioned 8,000 total units with 25% affordable after redevelopment dissolution reduced the financing available for housing.
Beck summarized financing pathways now on the table: AB 2 (infrastructure financing district under state law), the enhanced IFD (EIFD) and IRFD (infrastructure and revitalization financing district). He said none of the options restores the state—s redevelopment share; each requires local tax-increment pledges and an election, and only AB 2 carries an explicit 25% affordable…
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