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Below you can find a link to a list of differences between and traditional Infrastructure Financing Districts (IFDs) and EIFDs.
EIFDs Vs. IFDs and RDAs
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On January 1, 2015, Governor Jerry Brown signed into law, SB628, “Enhanced Infrastructure Financing Districts” (EIFDs) which allows for a separate government entity to be created by a city or county within a defined area to finance infrastructure projects with community-wide benefits. EIFDs are an upgraded version of the Infrastructure Financing District (IFD), which uses Tax Increment Financing to fund a wide-variety of infrastructure projects.
No. An EIFD is a a type of Tax Increment Financing, an economic tool which reinvests a portion of property tax from any increase in property value above a set base year (The Tax Increment) back into The District. This is not an increase in taxes, but rather takes 75% of the Tax Increment intended for the County General Fund and places it in a fund to be used on infrastructure projects which benefit The Samoa Peninsula.
There is a lot of concern about the impact of sea level rise on the Peninsula due to Climate Change. Although Climate Change is a very real threat and sea level rise could potentially be devastating to Humboldt Bay, the Peninsula is at actually at less risk than other larger communities. Using this interactive tool developed by the NOAA you can see the effects of sea level rise, in various local scenarios and time-frames, on Humboldt Bay. Not only is the Peninsula at less risk that the surrounding communities, but the Samoa Peninsula EIFD can actually be used to reduce the impacts. An EIFD can fund infrastructure which specifically mitigates climate change including sea level rise.
The EIFD is not currently funding anything and is still only in the formation phase. However, once formed the EIFD can fund a variety of infrastructure projects which benefit The District and the surrounding Community. Below is a list of fundable infrastructure projects through an EIFD
Per California law projects which utilize public funding are subject to CEQA and require an Environmental Impact Report (EIR). The Samoa Peninsula EIFD does not currently have any proposed projects, but EIR's will be required for each individual projects that eventually are funded by the EIFD. These requirements, along with an EIFD's ability to fund environmental mitigation, can help ensure that the health and beauty of the Peninsula is retained.
The EIFD will expire 45 years after the first issuance of bonds or the set maximum amount to be allocated to the district is met (Currently set at $200 million), whichever comes first.
The Samoa Peninsula EIFD encompasses all the land and parcels South of the 255 Bridge. The Final IFP will also include a legal description of the boundary and a survey map, which are still under constructions, but for now the map below is a good reference.
Yes. As long as there is clear connection between the project and a benefit to the District.
The Public Financing Authority, or PFA, is the governing body if the EIFD. The PFA oversees revisions to the Infrastructure Financing Plan, eventual debt issuances, approval of financed projects, and other governing activities. The Samoa Peninsula EIFD PFA is composed of 3 members of the Humboldt County Board of Supervisors and two members of the public. To learn more about the PFA board members, upcoming meetings, and current initiatives, please visit our Samoa Peninsula EIFD Meetings and Governance Page.
The Infrastructure Financing Plan, or IFP, is the governing document of the EIFD. The document includes; a description of the District, description of proposed facilities and development, finding of communitywide significance, financing section, the goals of the district, anticipate fund revenue, and a Fiscal Impact and Incremental Revenue Analysis. The Infrastructure Financing Plan and other documentation can be found at the bottom of our Samoa Peninsula EIFD Homepage.
The County decided on an EIFD as the solution to infrastructure deficiencies on the Peninsula, thanks to input from the Samoa Peninsula Infrastructure Workgroup. This Workgroup was comprised of members of the community who has vested interest in seeing the redevelopment of the Peninsula, and included representatives from;
The City of Eureka
The City of Arcata
The Humboldt Bay Municipal Water District
The Samoa Peninsula Fire District
The Humboldt Bay Harbor Recreation and Conservation District
Humboldt State University
Prior to the formation of the Samoa Peninsula EIFD the California Center for Rural Policy (CCRP) conducted interviews and surveys on the Peninsula as to better understand the needs and wants of the public. Through this effort, CCRP learned that public was concerned about infrastructure deficiencies, and specified the need for a program which focused on the following;
As of now, the Samoa Peninsula EIFD is still in the formation stage, and so the best way to engage in the process and learn more is to attend meetings of the Public Financing Authority (PFA). EIFD Law requires 3 public hearings to be held before final adoption of the Infrastructure Financing Plan. These hearings are a chance for Staff and Members of the PFA to hear input from the public and make changes to the Infrastructure Financing Plan if necessary. You can find out more about these meetings and how to attend them by visiting the Samoa Peninsula EIFD Meetings and Governance Page.
If you have other questions please fill free to contact us:
Phone: 707-445-7745Fax: 707-445-7219Email: GoHumCo@co.humboldt.ca.us