An Enhanced Infrastructure Finance District (which may be referred to as “EIFD” or “district”) is a governmental entity that may be established by the City Council to use future incremental City revenue from existing tax rates to fund public capital facilities and infrastructure, as well as other specified projects of communitywide significance. EIFDs are not funded by a new tax but rather by capturing all or a portion of the future property tax increment revenue (i.e. the difference in property taxes owed prior to and post establishment of the EIFD) generated within the boundaries of the district. The EIFD may finance projects through the issuance of bonds or under a “pay-go” model where money is spent as it is collected.
The goal for the Napa EIFD is to create the means by which to assist in the provision of public facilities of communitywide significance that provide significant benefits and promote economic development within the boundaries of the Napa EIFD or the surrounding community and, for those facilities located outside the Napa EIFD boundaries which also have a tangible connection to the Napa EIFD.