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File #:
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20-0804
Version:
1
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Name:
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Enhanced Infrastructure Financing Districts
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Type:
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CC- Study Session
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Status:
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Agenda Ready
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On agenda:
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10/27/2020
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Final action:
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Title:
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ENHANCED INFRASTRUCTURE FINANCING DISTRICTS (CONTINUED FROM THE SEPTEMBER 29, 2020, REGULAR MEETING)
Enhanced Infrastructure Financing Districts (EIFDs) are a financing tool for infrastructure projects that provide broad community benefits. EIFDs allow such projects to be financed through tax increment generated from the growth in property taxes collected within a designated district boundary. EIFDs may be created by a city or county, and once created, the district stands as a separate government entity. The board of the Renewal Enterprise District (RED), a Joint Powers Authority formed in 2019 by the City of Santa Rosa and County of Sonoma, has voiced support for the possibility of forming a tax increment financing district as a way to assist in the assembly of public financing and leverage other funding sources to accelerate downtown infill housing production.
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