Published: October, 2011
Governor Jerry Brown last month signed AB 664 (Ammiano) to finance improvements the Port of San Francisco needs to host the 2013 America’s Cup yacht race, considered along with the Olympics and the World Cup to be one of the world’s top sporting events. Brown said the race, which is projected to bring 450,000 visitors, more than 8,000 jobs and $1.2 billion in economic activity, will put "wind in the sails" of the port’s revitalization.
"This bill gives San Francisco the flexibility it needs to finance important waterfront improvements," said Governor Brown. "The Port of San Francisco is a beautiful urban coastline, but its infrastructure needs a lot of work. By helping the city build capacity to play host to the world’s premier maritime event, this law is going to put wind in the sails of waterfront revitalization and bring tourism and jobs to San Francisco."
In addition to providing financing for the America’s Cup "village" and spectator seating, plans for the new infrastructure financing district include construction of a cruise ship terminal at Pier 27. The terminal will host cruise ships that will supply additional lodging for attendees, and thereafter provide continuing infrastructural benefits to the Bay Area’s tourism industry.
