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The original item was published from 8/8/2023 8:21:06 AM to 12/1/2023 12:00:01 AM.

News Flash

Economic Development

Posted on: August 8, 2023

[ARCHIVED] EIFD Spotlight

EIFD Spotlight

A transformative initiative is underway in Napa—the Enhanced Infrastructure Financing District (EIFD). This project seeks to revitalize and elevate Napa's urban landscape, preserving its rich historical charm while fostering modern growth and development.

The EIFD is a financing tool that allows Napa to leverage future tax revenue growth for essential infrastructure projects and community enhancements. By capturing a portion of the future property tax revenue growth within the district, known as tax increment, the EIFD can direct additional funds towards projects that will shape the city's future for the better.

As property values rise and property taxes increase, the incremental revenue generated becomes a catalyst for funding vital initiatives within the EIFD. This forward-thinking approach ensures that as Napa's prosperity grows, the resources available for strategic development grow as well.

The EIFD recently completed the first of its 45-year duration. This marks the beginning of an exciting journey towards comprehensive growth and improvement.

At its core, the EIFD is strategically designed to encompass areas where redevelopment efforts can have a transformative impact. By focusing on carefully chosen locations, Napa can channel its resources efficiently and effectively, maximizing the benefits for residents and visitors alike.

One of the primary goals of the EIFD is to address critical infrastructure needs that were previously hindered by financial constraints. Upgrading downtown parking, enhancing public spaces through improved lighting, sidewalks, and landscaping, and investing in affordable housing and supportive mixed-use infrastructure are just a few of the ambitious endeavors made possible by the EIFD. These initiatives are destined to elevate the overall quality of life and foster a city that is more accessible, vibrant and inviting.

A thriving city holds the potential to attract more visitors and potential customers, thereby creating a supportive ecosystem for local enterprises. The EIFD's multi-faceted approach is aimed not only at growth but also at preserving the essence of Napa's unique character. By giving special attention to historical preservation, the EIFD ensures that Napa's identity remains intact, offering a seamless blend of the old and the new.

In addition, the EIFD plays a crucial role in community granting and investments, empowering Napa to allocate resources in ways that have a meaningful and lasting impact on the lives of its residents.

Learn more about Napa’s EIFD on the City’s website.

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