Pasadena Enhanced Infrastructure Financing District (EIFD) Public Financing Authority: Aug. 28, 2026

The Pasadena Enhanced Infrastructure Financing District Public Financing Authority met on August 28, 2026, to organize the board and review the planned infrastructure financing process. The board elected its chair and vice chair and adopted the authority’s bylaws. Consultant Cosmont presented the proposed scope and timeline for an Infrastructure Financing Plan (IFP) covering an approximately 550-acre district that includes the 710 Vision Plan area and corridors such as North Lake, Fair Oaks, Lincoln Avenue, and Orange Grove. The financing concept would direct a portion of future property-tax growth to infrastructure and affordable housing without increasing tax rates. Staff and the consultant are considering a city contribution of 25%–50% of its share of future tax increment, matched dollar-for-dollar by the county; roughly 40% was identified as a preliminary working level, not a final commitment. No contract award, procurement approval, or specific spending authorization was identified.

Board members emphasized reviewing the draft IFP in a public meeting before broader distribution and asked that it assess placemaking and mobility investments in the corridors north of the 210, alongside the substantial infrastructure needs of the 710 area. Illustrative figures raised included hundreds of millions of dollars in potential 710 infrastructure costs and examples such as $10 million for North Lake improvements, $200,000 for bulb-outs, and $10,000 for utility-box painting; these were discussion examples, not approved allocations. The board discussed adding a September or early October review meeting, with staff to poll members. A motion to direct preparation of the draft IFP was made and seconded, but the transcript does not capture its final vote. The plan will require separate City Council and County Board of Supervisors approval before returning to the authority for later consideration and a potential protest process. The presentation also noted that an established EIFD could improve competitiveness for certain state grants.