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Otay Chamber Supports Measure O/ Bonding Capacity for Otay Infrastructure

Jose Burciaga

 

Otay Chamber Supports Measure O/ Bonding Capacity for Otay Infrastructure

The Otay Mesa Chamber recently voted to support Measure O, a proposal that will be included in the November elections that will allow the newly formed Enhanced Infrastructure Financing District in Otay Mesa (EIFD) to issue bonds. If approved, this measure would allow the District to accelerate the construction of infrastructure projects in Otay Mesa. The district, which was formed in 2017 mandates that tax increments for Otay Mesa projects, be spent in Otay Mesa. Only Otay Mesa residents will be allowed to vote on this important measure. If approved, future tax increments would be available NOW to be spent on infrastructure. If defeated, tax increments would still be spent in Otay Mesa but only as they accumulate year per year.

It is important to highlight the following:

  • No new taxes will be imposed by Measure O
  • The total bonding capacity is $230 million
  • Projects funded are from the Otay Mesa Public Facilities Financing Plan

 

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CONTACT US

 

OTAY MESA CHAMBER OF COMMERCE.

8100 Gigantic St., Building 4100
Office 4106
San Diego, CA 92154

(619) 661-6111

(619) 661-6178

[email protected]





 

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