Governor Arnold Schwarzenegger signs Assembly Bill 1199 into law to allow the Port of San Francisco to proceed with infrastructure improvements along the waterfront in the Pier 70 area.
Mayor Gavin Newsom today praised the signing of Assembly Bill 1199 by Governor Arnold Schwarzenegger that will provide future funding for parks, infrastructure and rehabilitation of historic resources in the Port of San Francisco’s Pier 70 area. Under the terms of the legislation crafted by Assemblymember Tom Ammiano, the San Francisco Board of Supervisors may approve an infrastructure financing district at Pier 70 to capture projected growth in property tax revenues arising from new development at the site to pay for publicly-oriented site improvements. The Port has developed a Pier 70 Preferred Master Plan that envisions a vibrant, continued ship repair operation, a new National Register Historic District, more than 20 acres of parks and open space and commercial development that will provide 6,000-8,000 jobs. The legislation was supported by a broad, bipartisan coalition of community leaders, labor organizations, business organizations and elected officials. Read more.
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