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City consultant models EIFD scenarios; staff recommends Measure C debt route and committee directs staff not to pursue EIFD now
Summary
Consultants presented EIFD (Enhanced Infrastructure Financing District) models showing $46M (city-only) to $77.7M (with 50% county participation) in illustrative funding over 10 years. Staff recommended using Measure C debt financing instead; the committee unanimously directed staff not to pursue an EIFD at this time and to explore Measure C options and county partnerships.
The Finance Committee heard a consultant briefing Feb. 24 on the feasibility of creating an Enhanced Infrastructure Financing District, a California tool that redirects property-tax growth above a base year toward infrastructure and affordable housing projects.
Christian Sprummer, vice president with NHA Advisors, described modeling that included three primary scenarios: a city-only EIFD (Scenario 1A), a city-plus-50%-county participation EIFD (Scenario 1B), and alternatives that avoid EIFD formation. "Scenario 1A would generate about $31,000,000 in potential debt funding and just over…
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