Existing law authorizes the legislative body of a city or a county to establish an enhanced infrastructure financing district to finance public capital facilities or other specified projects of communitywide significance, including the acquisition, construction, or rehabilitation of housing for persons of very low, low, and moderate income.
Existing law authorizes the City and County of San Francisco to establish a downtown revitalization and economic recovery financing district for the purpose of financing commercial-to-residential conversion projects with incremental tax revenues generated by commercial-to-residential conversion projects within the district. Existing law requires the City and County of San Francisco to establish a board for the district at the same time that it adopts the resolution of intention to form the district, and requires the district to prepare a downtown revitalization financing plan that includes specified information and requirements, including that incremental tax revenues be distributed back to the respective project for the purpose of financing the debt service of the project for 30 years or until the district ceases to exist. Existing law, among other things, requires a district to establish a process for eligible commercial-to-residential conversion projects identified in the financing plan to opt into receiving incremental tax revenue generated by the respective project. Existing law specifies that the commercial-to-residential conversion projects that opt in to receive incremental tax revenue are public works for which prevailing wages are required to be paid, as specified, and requires the commercial-to-residential conversion projects that opt in to receiving incremental tax revenue to comply with labor standards adopted by the Board of Supervisors of the City and County of San Francisco, as provided.
This bill would additionally authorize any city, county, or city and county, except the City and County of San Francisco, to establish a downtown revitalization and economic recovery financing district for the purpose of financing specified commercial-to-residential conversion projects with incremental tax revenues generated by commercial-to-residential conversion projects within the district. The bill would require the district to meet the requirements imposed on the City and County of San Francisco when establishing a downtown revitalization and economic recovery financing district described above. The bill would make various conforming changes to the above-described provisions in this regard.

Statutes affected:
AB 1445: 65912.100 GOV
02/21/25 - Introduced: 65912.100 GOV
03/28/25 - Amended Assembly: 62450 GOV, 62450 GOV, 62451 GOV, 62451 GOV, 62452 GOV, 62452 GOV, 62453 GOV, 62453 GOV, 62455 GOV, 62455 GOV, 62456 GOV, 62456 GOV, 62457 GOV, 62457 GOV, 62458 GOV, 62458 GOV, 62459 GOV, 62459 GOV, 62460 GOV, 62460 GOV, 62461 GOV, 62461 GOV, 62462 GOV, 62462 GOV, 65912.100 GOV
04/28/25 - Amended Assembly: 62450 GOV, 62451 GOV, 62452 GOV, 62453 GOV, 62455 GOV, 62456 GOV, 62457 GOV, 62458 GOV, 62459 GOV, 62460 GOV, 62461 GOV, 62462 GOV