San Diego approves new financing method that’s expected to generate millions for river park upgrades
The San Diego City Council unanimously approved Tuesday a new funding source to pay for upgrades to the San Diego River, which officials say could become a regional attraction with recreational amenities and riverfront dining. The council voted to create an enhanced infrastructure financing district, which would generate money any time a parcel within half a mile of the river sees its property tax go up in the next 45 years. Combined with a separate EIFD the county government approved in September, the river is expected to get somewhere between $380 million and $750 million for a wide variety of projects.