To: Board of Supervisors
From: Supervisor Mike Wilson
Agenda Section: Consent
Vote Requirement: Majority
SUBJECT:
title
Letter of Support for AB 930 (Friedman) - Reinvestment in infrastructure for a Sustainable and Equitable California (RISE) Districts
end
RECOMMENDATION(S):
Recommendation
That the Board of Supervisors:
1. Authorize the chair to sign the letter of support.
Body
STRATEGIC PLAN:
This action supports the following areas of your Board’s Strategic Plan.
Area of Focus: Housing for All
Strategic Plan Category: 4002 - Increase and prioritize housing development
DISCUSSION:
AB 930 would permit two or more local governments to jointly form a Reinvestment in Infrastructure for a Sustainable and Equitable California (RISE) district to unlock tax increment financing for development in location efficient areas. The bill requires the California Office of Planning and Research to develop standards for the formation of RISE districts no later than November 30, 2025, and provides for the establishment of a governing board of a RISE district with representatives of each participating local government, raising revenue to support RISE and a revolving loan fund.
SOURCE OF FUNDING:
General Fund
FINANCIAL IMPACT:
There is no financial impact to sending a letter of support.
OTHER AGENCY INVOLVEMENT:
None
ALTERNATIVES TO STAFF RECOMMENDATIONS:
Board discretion
ATTACHMENTS:
Letter of Support
AB 930 Fact Sheet
PREVIOUS ACTION/REFERRAL:
Meeting of: N/A
File No.: N/A