With the goal of creating new jobs and economic growth, the Humboldt County Board of Supervisors recently approved the formation of the Enhanced Infrastructure Financing District (EIFD) for the Samoa Peninsula. The proposed EIFD consists of over 2,400 acres located southwest of the Samoa Bridge and will help fund infrastructure improvement and contribute to job growth.
“Our office is tremendously excited at the Boards decision to move forward with this critical economic initiative,” said Humboldt County Economic Development Director Scott Adair. “The formation of the Samoa Peninsula EIFD will help to position our County for success as we seek to accommodate new growth aimed at creating jobs, promoting prosperity, and sustaining the livelihoods of people and families in our community.”
With plans for sustainable development in energy, aquaculture, and international communication, the Samoa Peninsula and Humboldt Bay have the potential to redefine their national significance. The largest community on the peninsula, the historic town of Samoa, just developed a new affordable housing complex, and is in the process of developing additional residential, commercial, and recreational areas. The peninsula has long been home to large industrial manufacturing, such as the old pulp mill, but now has plans to redevelop this infrastructure towards new more sustainable industries.
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 through a re-appropriation of future property tax growth from interested agencies and jurisdictions.
The next steps are establishing a Public Financing Authority to govern the EIFD and a public meeting will be held Oct. 14 at 3 p.m. at the County Courthouse in the Board of Supervisors’ Chambers.
For more information, you can view the Resolution Establishing the Samoa Peninsula EIFD.