Rafael Mandelman
speaker
28,290 appearances
224 recordings
7 series
first heard Sep 2023
last heard yesterday
Rafael Mandelman’s voice in public audio — every appearance, attributed to the second.
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Appearances
The annexation territory is some of the property that has been transferred from the Navy to the master developer of the Treasure Island project since the formation of the IRFD.
This is the first of the anticipated annexations to the IRFD.
The annexation supplement has been prepared and made available to the public, and the Board of Supervisors approved the annexation supplement on July 28, 2026.
In its capacity as the legislative body of the only taxing entity that allocates property tax increment to the IRFD.
Now the Board, in its capacity as the legislative body of the IRFD, will undertake a series of proceedings required by the California Government Code in order to add the annexation territory to the IRFD and adopt the annexation supplement, which includes a public hearing and the preliminary steps for a landowner election.
This hearing is now open.
And Supervisor Dorsey has opening remarks.
Thank you, President Mandelman.
Colleagues, I want to express my support for these items, which allow us to make continued and sustained investments in Treasure Island and Yerba Buena Island as we move forward on their development.
Treasure Island is home to an infrastructure revitalization financing district, or IRFD, which was created in 2017 to provide funding for both islands' development.
Earlier this year, in July, we heard and approved the first two pieces of legislation to kick off this process, declaring the city's intention to issue bonds and to approve the upcoming changes to the IRFD.
The IRFD allows the city to earmark a portion of future property taxes on Treasure Island, this is approximately 56%, to support the development project, specifically to fund public infrastructure and affordable housing.
The IRFD does not raise taxes.
Our vision for the islands included 8,000 additional units of housing, both affordable and market rate, and hundreds of more acres of parks and open space.
A reliable and sustainable stream of funding is essential to delivering on our promise to build more homes and to remedy our citywide housing shortage.
To date, the city has issued $65 million in IRFD bonds, repaid by IRFD taxes.
that helped to cover the cost of construction of public infrastructure and affordable housing on Treasure Island.
At the time the IRFD was formed, the city included the first phase of properties into the district boundaries.
Thanks to the work we've been able to do to grow and expand TIDA, the Treasure Island Development Authority,
is now adding future development properties.
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