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Committee forwards Stonestown EIFD to Board to finance 3,500-unit redevelopment
Summary
The Budget & Finance Committee voted to forward a resolution approving an infrastructure financing plan for the Stonestown master plan; the project would add roughly 3,500 housing units, fund streets, utilities and open space, include at least 20% affordable housing, and rely on EIFD reimbursements spread over decades.
The Budget & Finance Committee on Jan. 14 moved to forward an infrastructure financing plan and associated resolution to form an Enhanced Infrastructure Financing District for the Stonestown redevelopment.
OEWD staff said the Stonestown project will be built on roughly 27 acres of parking lots surrounding the existing mall (the…
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