Committee accepts amendment and forwards Treasure Island IRFD annexation actions to Board
Summary
The committee accepted a non‑substantive amendment to set a Committee of the Whole public hearing for Sept. 15, 2026, and forwarded resolutions to begin the process of adding Stage 2 properties to the Treasure Island Infrastructure and Revitalization Financing District (IRFD).
The Government Audit and Oversight Committee on June 4 heard presentations on proposed actions to add territory to the Treasure Island Infrastructure and Revitalization Financing District (IRFD) and to prepare an appendix to the district’s infrastructure financing plan.
Jamie Karubin, acting director of the Treasure Island Development Authority (TIDA), explained that the IRFD, originally formed in 2017 under a 2011 disposition and development agreement, captures a portion of new property tax revenue to finance public infrastructure and affordable housing on Treasure and Yerba Buena Islands. The current proposal would begin the legal process to include Stage 2 parcels (project areas f, g, h and i) into the IRFD boundaries so the city can capture property tax growth during early development stages.
Karubin read a non‑substantive amendment into the record to fix the Committee of the Whole public hearing date and time — "September 15" at "3 PM" — and the committee voted to accept that amendment. Staff said future Board actions will include property‑owner elections, annexation approvals, an amended financing plan and approval of the maximum IRFD bond amount. Committee members forwarded both resolution items to the Board with positive recommendations.
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