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Treasure Found on Treasure Island

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Roughly 400 affordable units will be cut from the 8,000-unit project and replaced with more expensive, market-rate housing that would bring in more revenue Which unless you're passionate about affordable housing, isn't really the story here. It's the decision to end-run around the Gov's imminent shut-down redevelopment agencies by making Treasure Island an "Infrastructure Financing DIstrict" which will allow the city to issue bonds to pay for the projects. The bonds carry a slightly higher interest rate- in some cases, as much as 10%- and are tax-free. Should sell like hotcakes, make rich people happy, and reduce the burden on the state's budget. A win all around unless you were hoping to snag a below-market on TI sometime in 2020. [SFGate]