SANTA CRUZ — The governing body created to oversee the nascent Enhanced Infrastructure Financing District in the city of Santa Cruz, known as the Santa Cruz Public Financing Authority, held its first-ever meeting Thursday morning.

An enhanced infrastructure financing district is a way for a city to use a portion of collected property tax revenue above a certain threshold and within designated areas to finance economic development and public infrastructure projects such as parks, recreational facilities and the creation of affordable housing, among others. The district does not increase or create any new taxes in the city.

With the Santa Cruz City Council voting to establish the preliminary boundaries of the district — which consists of about 543 acres — and the Public Financing Autho

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