(a) This section shall apply only to a special waterfront district. (b) A special waterfront district may be created as a waterfront district pursuant to, and shall be subject to, all applicable requirements of Sections 53395.3 and 53395.8, except as provided in this section. (c) (1) The special waterfront district ERAF share produced in a Port Americaâs Cup district with a special waterfront district enhanced financing plan shall be used only to finance the following: (A) Construction of the portâs maritime facilities at Pier 27. (B) Planning and design work that is directly related to the portâs maritime facilities at Pier 27. (C) Planning, design, and acquisition and construction of improvements to publicly owned waterfront lands held by trustee agencies, such as the National Park Service, the California State Parks, and departments of San Francisco, and used as public spectator viewing sites for Americaâs Cup-related events, including portions of the San Francisco Bay Trail under the jurisdiction of those trustee agencies. Any improvements authorized under this subparagraph shall not be required to be in the district. (D) Future installations of shoreside power facilities on port maritime facilities. (2) A special waterfront district enhanced financing plan for a Port Americaâs Cup district shall provide that the proceeds of special waterfront district ERAF-secured debt are restricted for use to finance directly, reimburse the port for its costs related to, or refinance other debt incurred in, the construction of the portâs maritime facilities at Pier 27, including public access and public open-space improvements, and for any other purposes for which the ERAF share can be used, subject to the set-aside requirements of paragraph (3). (3) Twenty percent in the aggregate of the special waterfront district ERAF share allocated to a Port Americaâs Cup district under this section shall be set aside to finance costs of planning, design, acquisition, and construction of improvements to waterfront lands owned by federal, state, or local trustee agencies, such as the National Park Service or the California State Parks as provided in subparagraph (C) of paragraph (1). Any improvements authorized under this paragraph are not required to be located in the district. (4) The 20 percent set-aside requirements applicable to a special waterfront district set forth in paragraph (3) are in lieu of the set-aside requirement set forth in clause (ii) of subparagraph (C) of paragraph (3) of subdivision (g) of Section 53395.8. (5) All improvements authorized by this section in a Port Americaâs Cup district shall be deemed to be public facilities of communitywide significance, which provide significant benefits to an area larger than the area of the district. (d) If any portion of the 20-percent set-aside funds described in paragraph (3) of subdivision (c) is allocated to a federal or state trustee agency, both of the following shall apply: (1) The special waterfront district enhanced financing plan for the Port Americaâs Cup district shall specify the portion of the 20-percent set-aside funds described in paragraph (3) of subdivision (c) that is allocated to any federal or state trustee agency. However, the trustee agencyâs proposed use of the 20-percent set-aside funds does not need to be described in the special waterfront district enhanced financing plan pursuant to subparagraph (B) of paragraph (3) of subdivision (g) of Section 53395.8. (2) San Francisco shall direct the county tax collector to pay the 20-percent set-aside funds allocated to the federal or state trustee agency directly to such trustee agency. (e) (1) Before adopting the resolution authorizing the first debt issuance by a Port Americaâs Cup district with a special waterfront district enhanced financing plan authorized by this section, the board of supervisors shall submit a fiscal analysis to the California Infrastructure and Economic Development Bank for
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