Planning Commission recommends EIFD amendment to accelerate Potrero Power Station infrastructure and housing

The Planning Commission on Jan. 18 recommended approval of an amendment to the Potrero Power Station development agreement that would enable the creation of an enhanced infrastructure financing district (EIFD) to capture incremental property tax revenues to pay for public infrastructure and affordable housing at the Power Station site.

Planning staff said the EIFD tool — authorized under state law — would reimburse eligible public infrastructure costs from future incremental property taxes within a defined geography, reducing upfront costs and helping advance later phases of the project. Lee Lutensky of the Mayor’s Office of Economic and Workforce Development said the city conducted fiscal analysis demonstrating the project will continue to generate a net fiscal benefit to the general fund over time. The sponsor described continued construction progress, including seawall work, preservation of Station A, and a workforce housing building due to deliver occupancy in 2025.

Commissioners praised the project’s community engagement, onsite contracting and use of local labor programs. Commissioner Bridal moved to approve the resolution recommending the Board of Supervisors authorize the EIFD; the motion passed unanimously, 7–0. Staff noted that the formation process includes additional hearings at the Public Finance Authority and the Board of Supervisors.