County Supervisors eye partnership with city over Midway Rising development [Video]

SAN DIEGO (CNS) – The San Diego County Board of Supervisors agreed Wednesday to explore a partnership with the City of San Diego on an enhanced infrastructure financing district at the Midway Rising/Sports Arena site.

Wednesday’s action by the supervisors does not commit the board to any deal, but rather directs county staff to explore the option of forming an financing district with the city.

EIFDs are a type of tax increment financing district cities and counties form to help fund economic development projects. Any EIFD at the Midway Rising site would only capture new property tax growth from the developed project site and not impact how existing property taxes are distributed to school districts, city and county programs.

“Agreeing to explore partnering with the city was the right thing to do for the existing residents of the Midway District, the future residents, and for the future of affordable housing …