be protected property taxes create the ifd. that's good. at one point, somebody said that the ability to be a capable agency or entity would help create an ifd on treasure island. >> the port's got special legislation. basically enabling it to be able to issue bonds. and giving some favorable changes to the existing law, many of the things that we go after, which talk about the 30- 45 years. the change that purport law. the ports just got the ability to issue them with some favorable items in the statute. it can issue bonds associated with pier 70. it was able to expand its ability to get out of the share. there is a president to getting beyond it. commissioner moore: to infrastructure financing plans require voter approval? >> they do. where you have residents, they would require those residents to vote to authorize. so on treasure island where we have the transmission housing plan, we would not create the district until there were no residence in that area. we would not create one ifd. we would create 45 that mimic the development phases.

in the past, you cannot form an ifd. >> can you clarify the bonding limit. is that specific to this? >> that is specific to the rincon hill ifd. there are estimates for our portion. we wanted to have a contingency. if the construction costs or more expensive, we would like to bond a bit more. >> the 3.9 million associated, that would come out of the -- >> yes, that would count against that cap. >> the 3.5 million would go to the other improvements that are part of the plan. >> if you turn to page two of the memorandum i have given you, we're calling this a work in progress. this is one of the most important things to be done with the planning department leading which is prioritization of all of those facilities. ultimately, it will be the city dictating which happens first. if there is a pedestrian safety need on the intersection of first and folsom, for example, we need to be able to prioritize how the bill that occurs based on independent criteria. that is actually part of the partnership and that work will be done by the planning department staff. >> if t

here is the back of the -- a map of the ifd where you recommended approval. there are 17 parcels, but there are actually 10 development sites. nine of which have already received entitlements. if you look to the left, you will see the landing site. -- lansing site. another reminder of what the scope of public improvements that we are discussing to finance, there are three new parks. the infrastructure plan includes be redesigned of pretty much all of the streets in the area. bill received essentially a better streets redesign makeover. all of the design work was done prior to 2005 and is included in the master plan that the planning department published which was approved by the board of supervisors in 2005. we updated the estimates as part of the proposal, and we are looking at about $32 million of improvements. we anticipate that about 52% will be funded by infrastructure impact collected from the project. and the gap will be funded by an infrastructure financing district. either bonds, or pay-as-you-go financing. we have the $22 million of bonds. we have a

there is a lot happening with ifd legislation. at least four pieces of legislation before the state legislature that talks about ifd and makes them work better for large-scale projects. the mayor is on record saying that he wants to find affordable housing. there is that limitation on affordable housing. you cannot find affordable housing and ticket% -- take a percent of affordable housing. in the senator's bill, there is a 20% requirement to spend money from the ifd. well that is the recommendation, we do want to show you various options. you could actually get more than 20% affordable housing. some require cuts to other portions of the project. we do not think he would recommend this. we think all of these are feasible. this is the place we have tried to create. the first option is to eliminate that requirement for 5%. this is to house folks that have higher emi levels. these are within market rate projects. there is a proposed 316 units of affordable housing. they could actually add back up of 400 units of inclusion mary. you c

workforce development and the development team have done an excellent job in informing us of how the ifd's work and the difference between that and redevelopment financing. i think that our members understand that very well. we were given an opportunity to ask a number of questions, and we are very satisfied with the answers that we received. i feel strongly that the city has been waiting a long time for this project. people have been talking about it and looking forward to it. the jobs that it will create are an enormous and will greatly support and improve the economy of the whole city. my heart goes out to those workers who have not been able to work for such a long time. i want to see them working. i want to see this development go forward now, and not be delayed any longer. and i will support the approval of the eir and later will support the approval of the dda. i am anxious to see it go forward. i am anxious to see folks going back to work. i would urge an aye vote on the eir tonight. commissioner mazzola: first, i would like to ask a question of staff regarding an issue that was br

it moved from redevelopment to the ifd. we have heard there is no impact on the development because of that change. we do not have the luxury of more delays. we have heard from labor, from all kinds of folks here tonight, that they need jobs. we have been doing this process for 12 years. we can't keep revisiting and having more hearings. the have been hundreds of meetings, hearings. staff has worked thousands of hours on this. the developers have spent $35 million to date. enough is enough. we need to start moving forward. we need to build a new community. i think this is a great document. it covers all that we have heard before and then some. we have heard from a lot of great people here tonight, from the bicycle coalition, who are my friends. i am a cyclist. a think we have creative, innovative ways that we are quick to mitigate the traffic on to that island. this is very creative, very breakthrough social development. i would urge all of my fellow commissioners on this board and the planning commission to move forward wi

they prefer to go the ifd route. it does lessen the obligation of the developer as it relates to affordable housing in the city where we have clearly identified the need. i come from the working class. i understand the struggles of working families. we have untitled thousands of units of housing in san francisco over the last several years. many that labour have come out and been forced to endorse. just because we do entitle a development, it does not always end up in the labour force. some people do benefit from the entitlements that they receive here. it is not always the labor force. at some point, the planning department needs to look at some of those projects that we have untitled. they are moving forward slowly. we have been titled eastern neighborhoods. there have been several individual projects that we have untitled on 10th and market. the list goes on. i have not seen any of those projects break ground. there will be plenty of jobs in place for the work force. they will be moved ahead. i hope to see these p

president olague: any additional public comment on ifd's. >> tim cullen on behalf of the housing action coalition. we're playing catch-up. needless to say, it is with deep sadness that we are watching the loss of this affordable housing. it is awful. but we have to be clear that this is a direct consequence of the economy and the state and the state cozy awful budget situation. as a consequence of having a redevelopment on the scaffold. i think that the first thing to do is to make sure that this project moves forward and it will be as successful as possible. and also to support the idea that the just made, that you are giving up some of the affordability to get this project over the hurdle, it would make sense to give housing affordability first call in the half the case that things go better or fortunes change and things become possible. and try to claw our way back to the affordability that was envisioned in the project. it would be a shame to give up the transition. this project has to work on its own. it has to be attractive to the marketplace to succeed. see if you can't get the h

the fact that with changes to ifd we could possibly gain the units back -- there was also a point that rich didn't mention. they actually moved one of the affordable housing projects to phase two. that would give us five years to be able to recapture the units. it is not like right out of the gate there is anything lost. we have time to recapture them. i think that is really important to mention. the fact that there are still 2000 affordable housing units for hundred of which are set aside for homeless -- 2000 affordable housing units, up 400 400 of which are set aside for homeless, is incredible. we have letters of support from our members which include the boys and girls club of san francisco, catholic charity, mercy housing, mission hiring hall, rubicon programs, swords to plowshares, and others. this is about understanding the difficult choices before us. we are still looking forward to this project, moving forward. chairperson mar: thank you. i will also call eddie ahn and walter paulson. >> my name is francisco dacosta. i have been involved in treasure island since 1991, when my

normally under redevelopment and under an ifd scenario, so the city gets 65 cents of every dollar for property tax for the general fund, and the rest is distributed to the school district, and the state gets the 25%, and a couple of other taxing entities get the remainder 2.3%. under redevelopment, 80% of that revenue is diverted to redevelopment. that is why the state does not like it, because they lose that 25% share that goes to education. the 65 cents of general fund, so it is all a -- all local money, is used on the island for infrastructure improvements, so we think there is much less risk in the future. isd bonds are similar to redevelopment. the pledge to pay off bonds similar policy cannot issue the bonds until you actually have development and property tax being generated on the island. same with redevelopment. san francisco is unique in that it gives a much larger share pre-tax revenue than, say, san jose. again, san francisco is unique in its ability to use isd funding. for treasure island, there are two areas where we do not change in two areas where the project does esse

goes, and there has been some questions about this -- in the case of redevelopment and in the case of ifd's, in both cases we are well above the minimum required. i think that is important for everybody to understand. 25% is above the minimum. the affordable housing advocates on treasure island, tihdi, are asking you to approve this. so is the citizen's advisory board. i feel that this horse has been beat to death. i am also a new commissioner, but this has been going on for 10 to 15 years. we cannot afford as a city to let this project go. we cannot delay it and delay it and the late it. it makes the sense. it is time. it is ready. like my colleague just said, and some building trade members in the audience have said, the trades have been hit in a way where we have never seen it before, unprecedented. we have 30% to 50% unemployment across the board in the building trades for over two years. i cannot tell you how many stories of members -- the membership is dropping out in huge numbers because the cannot afford to stay in the unions. secondly, they have no health and welfare anymore. they

workforce development and the development team have done an excellent job in informing us of how the ifd's work and the difference between that and redevelopment financing. i think that our members understand that very well. we were given an opportunity to ask a number of questions, and we are very satisfied with the answers that we received. i feel strongly

it is possible that we could utilize that program as bridge financing to get us from the future ifd, where the increment accumulate slowly, just such a building those improvements, way ahead. with that, i would like to just close in saying that tier 5 is the next vision. parkmerced is the project before you today, obviously, but you cannot get to tier 5 without tier four. if you have any other questions, all of us are available. supervisor mar: i really appreciate the materials. very thorough. there were a couple of sites that you said the project developer wanted to walk us through, but i was going to ask about -- there were a couple of slides of the existing amenities, and you lay of the benefits currently there. the lay of the drawbacks. could you go over a little bit more of the drawbacks -- you mentioned construction done during wartime, so the materials are perhaps inferior to the 1950's or 1960's materials used for other projects? could you go through the drawbacks and challenges? >> absolutely. i would like to actually invite the project sponsor to go into greater detail on t