Board of Supervisors Approve Formation of Samoa Peninsula Enhanced Infrastructure Financing District
With the goal of creating new jobs and economic growth, the Humboldt County Board of Supervisors recently adopted a resolution establishing the Enhanced Infrastructure Financing District (EIFD) for the Samoa Peninsula.
The EIFD encompasses approximately 2,400 acres along the Samoa Peninsula, south and west of the Highway 255 bridge. Using the tax increment from large-scale development within the district, the EIFD will be used to fund a variety of projects which will benefit the community and surrounding areas.
“The formation of Humboldt County’s first EIFD has been an endeavor two years in the making,” said Scott Humboldt County Economic Development Director Scott Adair. “Our agency is enthusiastic about working with residents and stakeholders alike as we roll out this new initiative, which is aimed at creating jobs, promoting prosperity, and sustaining the livelihoods of people and families in our community.”
Humboldt County is well positioned for growth and private sector investments in many areas, particularly on the Samoa Peninsula; however, infrastructure deficiencies and economic barriers have often hindered development. Current planned development areas include offshore wind energy, aquaculture, international communication, emerging forest product industries, and community development.
Conservative estimates anticipate current planned development could result in 198 housing units, 805 direct permanent jobs, 986 indirect and induced permanent jobs, over 700 jobs in construction over the next 10 years, nearly a $1 billion in economic output from construction alone, and an ongoing annual economic output of $261.1 million. EIFD funds will be used to support these developments, and others like them, with the goal of promoting environmental sustainability, enhancing community welfare, and producing ongoing economic prosperity.
The State of California created Enhanced Infrastructure Financing Districts in 2014 as a tool for local governments to finance infrastructure projects and improvements as a replacement for state redevelopment funding. EIFD’s do not impose new taxes, but instead rely on tax increments from interested agencies and jurisdictions.
Now that the resolution has been adopted, Economic Development staff filing with Board of Equalization for establishment of EIFD in April 2022, and staff will continue to work with community stakeholders and the governing body of the EIFD, known as the Public Financing Authority (PFA), to identify infrastructure projects on the Samoa Peninsula, establish funding procedures, and report out on available fund revenues.
For more information, please review the Resolution Establishing the Samoa Peninsula EIFD or visit the Samoa Peninsula EIFD web page.
Old Samoa Pulp Mill Site.