A San Francisco neighborhood near the Presidio that has not seen new residential development in nearly 50 years may soon get an infusion of new housing with the creation of a special financing district.
A proposal before the Board of Supervisors would create an Enhanced Infrastructure Financing District (EIFD) to get the ball rolling on two long-stalled projects at defunct medical facilities in the Laurel Heights section, the San Francisco Chronicle reported.
An EIFD allows a developer to borrow against the tax revenue a project eventually will generate to finance needed infrastructure including streets, street lights and public plazas.
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