APPROVED AS TO FORM AND LEGALITY ________________________ CITY ATTORNEY’S OFFICE OAKLAND CITY COUNCIL RESOLUTION NO. ______________ C.M.S. INTRODUCED BY COUNCILMEMBER [IF APPLICABLE] RESOLUTION IN SUPPORT OF AB 930 (Friedman), THE REINVESTMENT IN INFRASTRUCTURE FOR A SUSTAINABLE AND EQUITABLE CALIFORNIA (RISE) ACT OF 2023, WHICH PERMITS TWO OR MORE LOCAL GOVERNMENTS TO JOINTLY FORM A RISE DISTRICT TO UNLOCK TAX INCREMENT FINANCING FOR INFRASTRUCTURE AND EQUITABLE DEVELOPMENT WHEREAS, the City of Oakland has been on the forefront of climate policy for decades; and WHEREAS, the City of Oakland has longstanding and ambitious goals to reduce vehicle miles traveled (VMT) and greenhouse gas (GHG) emissions, in order to achieve climate, equity and quality of life goals for the state’s residents; and WHEREAS, the California Air Resources Board has proposed in its 2022 scoping plan update achieving a per-capita VMT reduction of at least 25% below 2019 levels by 2030 and 30% below 2019 levels by 2045 in order to meet the state’s climate goals; and WHEREAS, many local governments would like to boost investment in infrastructure and transit-oriented infill development however projects are not economically feasible due to lack of available land, high infrastructure costs, weak market comps and discretionary land use and entitlement review processes; and WHEREAS, in 1945 California enacted the Community Redevelopment Act to assist local governments in eliminating blight through development, allowing redevelopment agencies to use state and local incremental property tax to support redevelopment; and WHEREAS, on February 1, 2012 Redevelopment agencies were dissolved by ABx1 26; and WHEREAS, since Redevelopment ended, California has instituted a form of tax increment legislation; and 2 WHEREAS, SB 628 (Beall) from 2014 authorized the establishment of Enhanced Infrastructure Financing Districts (EIFDs) to allow cities and counties to promote economic development through the use of tax increment funding; and WHEREAS, AB 2 (Alejo) from 2015 authorizes cities and counties to establish Community Revitalization and Investment Authorities (CRIAs) to promote community revitalization and affordable housing through the use of tax increment financing; and WHEREAS, AB 1568 (Bloom) from 2017 authorizes cities and counties to use sales taxes and transaction and use taxes within EIFDs to finance affordable housing on infill sites; and WHEREAS, A hand full of EIFD’s that have been established, new tools are needed. California’s climate, transportation, and housing challenges require a fresh approach that leverages funding to build infrastructure and equitable communities; now, therefore, be it RESOLVED that the City of Oakland supports the passage of AB 930 in the California legislature; and be it FURTHER RESOLVED: That the City Council directs the City Administrator or his designee to immediately distribute this Resolution upon its adoption to Governor Gavin Newsom and State Assemblymember Friedman. IN COUNCIL, OAKLAND, CALIFORNIA, PASSED BY THE FOLLOWING VOTE: AYES - FIFE, GALLO, JENKINS, KALB, KAPLAN, RAMACHANDRAN, REID, AND PRESIDENT FORTUNATO BAS NOES – ABSENT – ABSTENTION – ATTEST: ASHA REED City Clerk and Clerk of the Council of the City of Oakland, California
2646873v9 / Attorney Initials - updated 1/9/2022 3