§ 62450. — 62450. (Amended by Stats. 2025, Ch. 642, Sec. 1.)

For purposes of this part:
(a)
“Commercial-to-residential conversion project” means a housing development project that converts an existing qualifying commercial building to market rate or affordable housing by either reuse of the existing commercial building or by replacing the commercial building with a new residential building.
(b)
“Communitywide significance” means benefits associated with the commercial-to-residential conversion project beyond the conversion of commercial space to residential dwelling units.
(c)
“Designated official” means the appropriate official designated pursuant
to Section 62455.
(d)
“District board” means the governing board of the downtown revitalization and economic recovery financing district.
(e)
(1)
“Downtown revitalization and economic recovery financing district” or “district” means a legally constituted governmental entity separate and distinct from the local government that established it pursuant to this division for the sole purpose of financing commercial-to-residential conversion projects or other projects of communitywide significance that support downtown revitalization and economic recovery as authorized by this division. A downtown revitalization and economic recovery financing district is a local agency for purposes of Chapter 9 (commencing with Section 54950) of Part 1 of Division 2 of Title 5.
(2)
A downtown revitalization and economic recovery financing district shall be deemed a district within the meaning of Section 1 of Article XIII
A of the California Constitution.
(f)
“Downtown revitalization financing plan” means an adopted financing plan prepared pursuant to Section 62456.
(g)
“Downtown San Francisco” means an area in the City and County of San Francisco bounded beginning at the intersection of Washington Street and The Embarcadero, running southerly along The Embarcadero and then King Street to 3rd Street, running northwesterly on 3rd Street to Townsend Street, running southwesterly along Townsend Street to 6th Street, running northwesterly along 6th Street to Mission Street, running southwesterly
along Mission Street to 10th Street, running southeasterly along 10th Street to Minna Street, running southwesterly along Minna Street to Lafayette Street, running southeasterly along Lafayette Street to Howard Street, running southerly along Howard Street to the junction with the Central Freeway, running westerly along the Central Freeway to Market Street, running northeasterly along Market Street to Franklin Street, running northerly along Franklin Street to Golden Gate Avenue, running easterly along Golden Gate Avenue to Taylor Street, running northerly along Taylor Street to Turk Street, running easterly along Turk Street to Mason Street, running northerly along Mason Street to Ellis Street, running westerly along Ellis Street to Taylor Street, running northerly along Taylor Street to O’Farrell Street, running westerly along O’Farrell Street to Shannon Street, running northerly along Shannon
Street to Geary Street, running easterly along Geary Street to Taylor Street, running northerly along Taylor Street to Bush Street, running easterly along Bush Street to Kearny Street, running northerly along Kearny Street to Sacramento Street, running easterly along Sacramento Street to Montgomery Street, running northerly along Montgomery Street to Washington Street, and running easterly along Washington Street to The Embarcadero.
(h)
“Governing body” means the city council or board of supervisors of a local government.
(i)
“Local government” means a city, county, or city and county, whether general law or chartered.
(j)
“Lower income households” has the same meaning as defined in Section 50079.5 of the Health
and Safety Code.
(k)
“Moderate-income households” means households of persons and families of moderate income, as defined in Section 50093 of the Health and Safety Code.
(l)
“Net available revenue” means periodic distributions to a local government from the Redevelopment Property Tax Trust Fund, created pursuant to Section 34170.5 of the Health and Safety Code, that are available to the local government after all preexisting legal commitments and statutory obligations funded from that revenue are made pursuant to Part 1.85 (commencing with Section 34170) of Division 24 of the Health and Safety Code. “Net available revenue” shall not include any funds deposited by the county auditor-controller into the Redevelopment Property Tax Trust Fund or funds remaining in the Redevelopment
Property Tax Trust Fund prior to distribution. “Net available revenue” shall not include any moneys payable to a school district that maintains kindergarten and grades 1 to 12, inclusive, community college districts, county office of education, or to the Educational Revenue Augmentation Fund, pursuant to paragraph (4) of subdivision (a) of Section 34183 of the Health and Safety Code.
(m)
“Opted-in taxable property” means the property of a commercial-to-residential conversion project that has opted in to receive incremental tax revenue pursuant to Section 62459.
(n)
“Qualifying commercial building” means a commercial building identified in the downtown revitalization financing plan pursuant to subdivision (d) of Section 62456.
(o)
“San Francisco” means the City and County of San Francisco.
(p)
“Transit priority area” has the same meaning as defined in subdivision (a) of Section 21099 of the Public Resources Code.
(q)
“Very low income households” has the same meaning as defined in Section 50105 of the Health and Safety Code.

Legislative History

Amended by Stats. 2025, Ch. 642, Sec. 1. (AB 1445) Effective January 1, 2026.