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Title:
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Resolution approving and authorizing a Tax Increment Allocation Pledge Agreement between the City and County of San Francisco ("City") and the Redevelopment Agency of the City and County of San Francisco ("Agency"), under which the City agrees to a pledge by the Agency of a portion of the available non-housing tax increment generated by the redevelopment of the project site (specifically including Assessor's Block 3705, Lots 9, 10, 12, 13, 14, 15, 17, 18, 33, 38, and 43) in favor of Emporium Development, L.L.C. ("Developer"), a subsidiary of Forest City Enterprises, in furtherance of the implementation of the Redevelopment Plan amendment for the addition of the Emporium Site Area to the Yerba Buena Center Project Area; approving and authorizing a financing agreement and covenant to operate ("Financing Agreement") in connection with the Development of the Emporium Site Area; approving an allocation of tax increment for affordable housing purposes in excess of the minimum amount required under Redevelopment Law; making elections with respect to the allocation of tax increment; adopting findings pursuant to the California Environmental Quality Act; and adopting findings that the agreement is consistent with the city's General Plan and Eight Priority Policies of city Planning Code Section 101.1.
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