County of Los Angeles West Carson Enhanced Infrastructure Financing District (EIFD)
In May 2020, Los Angeles County approved a
Resolution of Intent to establish an EIFD in unincorporated West
Carson, making it one of the first County-initiated EIFDs in the
State. The goal of the West Carson EIFD is to fund the
development projects outlined in the 2019 West Carson Transit
Oriented District Specific Plan. The boundaries of the EIFD are
the I-110 highway to the east, Normandie Avenue to the west, Del
Amo Boulevard to the north, and Lomita Boulevard to the south.
The West Carson EIFD is one of SCAG’s most recent Pilot TIF
projects.
Utilizing tax increment collected above the 2021 base year, the West Carson EIFD will fund pedestrian improvement and connectivity, utility upgrades, and landscaping and green space improvements to the BioTech park. Additionally, the County intends to deposit 20% of tax increment funds into the Affordable Housing Trust Fund to go towards affordable housing development. The West Carson EIFD term is 45 years, although it is projected to incur $41 million in funds for the County over the course of 50 years. The West Carson EIFD can contribute up to $120 million to the Affordable Housing Trust Fund, and generate $1.2 billion in economic output yearly.
With a fully formed Public Financing Authority (PFA) made up of Los Angeles County Supervisors and the draft Infrastructure Financing Plan (IFP) currently under review, the West Carson EIFD is anticipated to be approved by early 2021.
Official information on the EIFD can be found at
https://pw.lacounty.gov/pdd/proj/westcarson-eifd/