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Pier 70 bill waiting for governor’s signature
By: John Upton
09/23/09 8:00 AM PDT
A bill that would help the Port of San Francisco pay for the planned redevelopment of Pier 70 has passed both houses of the California Legislature and is waiting for the governor’s signature.
AB 1176 would allow the Port to create an infrastructure financing district that could help raise funds by selling bonds to pay for environmental remediation, shoreline restoration, removal of bay fill and other tasks. Such districts normally pay only for infrastructure development.
Pier 70 is a 65-acre, formerly heavily industrialized site south of Mission Bay. Building efforts are years away from beginning and could take decades to complete.
The bill passed the Assembly and Senate unanimously, Port executive director Monique Moyer said during a commission hearing Tuesday.
“Now, if we can just get a one-zero vote of the governor, we’ll be on our way,” Moyer said.
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