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Downey directs staff to pursue EIFD study; consultant cites $50 million funding potential
Summary
Council unanimously directed staff to continue work on an Enhanced Infrastructure Financing District (EIFD) after a Cosmont presentation outlining EIFD fundamentals, a proposed ~191‑acre study area, and illustrative funding capacity ranging from low‑millions to tens of millions depending on development intensity.
The Downey City Council voted unanimously to direct staff to continue exploring the formation of an Enhanced Infrastructure Financing District (EIFD) following an informational presentation by Cosmont consultants.
Joseph Dieguez (introduced in the meeting) and a Cosmont presenter described EIFDs as a form of tax‑increment financing that can be used for infrastructure and affordable housing. The consultant said the tool can enable a city to set…
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