Council asks staff to study special financing districts for Ravenswood infrastructure

City staff and consultants briefed the council on possible financing districts to pay for public infrastructure tied to development in the Ravenswood Business District (RBD). Deputy special projects manager Anson Hong and finance director Tomohito Oku presented wide‑ranging options — including CFDs (Mello‑Roos), EIFDs (tax‑increment style) and Prop. 218 assessments — and described tradeoffs of timing, voter thresholds and legal requirements.

Tomohito Oku summarized policy considerations from the city's debt management policy: debt must align with useful life of funded projects and not undermine fiscal reserves. Consultant Chris Fisher described advantages and drawbacks: CFDs are flexible but typically require a two‑thirds vote and can create tax‑rate differences; EIFDs dedicate a share of property‑tax increment for up to 45 years and do not create a new tax; assessments require a special‑benefit finding and a mailed ballot majority. Fisher and staff said formation and potential bond issuance could take 9–15 months and would involve consultant teams and outreach to affected property owners. "If the city believes a financing district is a suitable option, the next step is to hire a consultant to evaluate alternatives and engage affected property owners," staff told the council. The council directed staff to release updated nexus/feasibility reports for public review and to return with a proposed work program to study financing‑district options.