Treasure Island Development Authority
In early 2003, the Treasure Island Development Authority (TIDA) and the Treasure Island Community Development (TICD) entered into an Exclusive Negotiating Agreement and began work on a Development Plan for Treasure Island and Yerba Buena Island. The Treasure Island/Yerba Buena Island Development Project will create a new San Francisco neighborhood consisting of up to 8,000 new residential housing units, as well as new commercial and retail space. The Project will also feature new hotel accommodations and 300 acres of parks and public open space, including shoreline access and cultural uses. Transportation amenities being built for the Project will enhance mobility on the Islands and link the Islands to San Francisco.
| TREASURE ISLAND - Affordable Housing Projects | FY 2022 | FY 2023 | FY 2024 | FY 2025 | FY 2026 | FY 2027 - 2031 | Plan Total | ||
| SPENDING PLAN | |||||||||
| Total Projected Development Costs | 93,500 | 193,000 | - | 162,000 | - | 397,000 | 845,500 | ||
| TOTAL | 93,500 | 193,000 | - | 162,000 | - | 397,000 | 845,500 | ||
| REVENUES | |||||||||
| Debt Supported by Rental Income and/or Operating subsidy income | 7,000 | - | - | 8,000 | - | 24,000 | 39,000 | ||
| State HCD (AHSC, MHP, VHHP, NPLH, IIG, TOD) | 12,000 | 12,000 | - | 12,000 | - | 36,000 | 72,000 | ||
| State HCD (CDBG Cares, LHTF, ESG, HHC) | - | 5,000 | - | - | - | - | 5,000 | ||
| Tax Credit proceeds (c) | 36,000 | 30,000 | - | 53,000 | - | 111,500 | 230,500 | ||
| New Market Tax Credits | - | 8,000 | - | - | - | - | 8,000 | ||
| Federal Home Loan Bank Affordable Housing Program | 1,000 | 1,000 | - | 1,000 | - | 3,000 | 6,000 | ||
| GP capital, Other | 500 | 500 | - | 500 | - | 1,500 | 3,000 | ||
| TI master developer contribution | - | 18,218 | - | 6,060 | - | 4,463 | 28,741 | ||
| Treasure Island IRFD (d) | - | 2,705 | - | 17,440 | - | 92,537 | 112,682 | ||
| TOTAL | 56,500 | 77,423 | - | 98,000 | - | 273,000 | 504,923 | ||
| Total San Francisco Jobs/Year | 253 | 347 | 0 | 439 | 0 | 1,223 | 2,262 | ||
| Annual Surplus (Deficit) | -37,000 | -115,577 | 0 | -64,000 | 0 | -124,000 | -340,577 | ||
| Cumulative Surplus (Deficit) | -37,000 | -152,577 | -152,577 | -216,577 | -216,577 | -340,577 | |||
| TREASURE ISLAND - Economic & Neighborhood Development | Prior Years | FY 2022 | FY 2023 | FY 2024 | FY 2025 | FY 2026 | FY 2027 - 2031 | Plan Total | |
| SPENDING PLAN | DEFERRED | ||||||||
| Property Acquisition/Assumption | 34,344 | - | - | - | 8,882 | 6,402 | 17,853 | 33,137 | |
| Infrastructure Costs | 511,391 | 127,137 | 294,645 | 238,906 | 199,821 | 159,398 | 810,167 | 1,830,074 | |
| Other Costs (Marketing, Project Management, et al.) | 57,875 | 9,211 | 11,092 | 11,316 | 30,820 | 36,420 | 71,806 | 170,665 | |
| TOTAL | 603,610 | 136,348 | 305,737 | 250,222 | 239,524 | 202,220 | 899,826 | 2,033,877 | |
| REVENUES | |||||||||
| Mello Roos Bond (CFD) Proceeds | 87,829 | 118,090 | 28,973 | 92,277 | 82,870 | 39,220 | 269,858 | 631,287 | |
| Tax Increment Financing | - | - | 12,754 | 35,265 | 46,950 | 70,986 | 417,700 | 583,655 | |
| Private Capital | 550,220 | 163,523 | 365,917 | 38,627 | 135,717 | 207,121 | 825,360 | 1,736,266 | |
| TOTAL | 638,049 | 281,613 | 407,644 | 166,170 | 265,538 | 317,326 | 1,512,918 | 2,951,209 | |
| Total San Francisco Jobs/Year | 1,261 | 1,826 | 744 | 1,189 | 1,421 | 6,776 | 13,218 | ||
| Annual Surplus (Deficit) | 34,439 | 145,265 | 101,907 | -84,053 | 26,014 | 115,106 | 613,092 | 951,771 | |
| Cumulative Surplus (Deficit) | 34,439 | 179,704 | 281,612 | 197,559 | 223,573 | 338,679 | 951,771 |
