SAN FRANCISCO — California Gov. Jerry Brown has signed a new law giving San Francisco special exemptions to form a tax district on its waterfront to help reimburse the city for the America’s Cup and pay for other projects.

Assembly Bill 664 allows the city to form an infrastructure financing district, or IFD, on the waterfront to include America’s Cup venues that will grab property tax growth to help pay for various projects by selling bonds backed by incremental tax growth.

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