A multi-billion-dollar redevelopment plan could bring new life to Seaport Village on San Diego's bayfront, but some residents are fading the idea now that the developer behind the potential revamp is asking for hundreds of millions in public funding.
Public funding for the Seaport Project is something O’Loughlin says residents should consider.The developer said that public money will pay for site infrastructure and amenities, such as the proposed urban beach, marina infrastructure, the proposed promenade and greenbelt, hotels, piers and wetlands.
One option is the formation of an “enhanced infrastructure financing district," which would collect property taxes to encourage incremental growth. Another option? A special tax district that would impose fees on hotels and entertainment venues. "I like the access to the waterfront. I hope we don’t lose it. It's really important to the local people here," he said."I just don’t believe we should be funding things through taxes with what's going on in the economy. I don’t think we should be funding anything with taxes."
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