This resolution updates San Francisco's 10-year capital expenditure plan for fiscal years 2024 to 2033, specifically regarding the certificates of participation program. It allows the city to finance various public projects through this funding mechanism.
Resolution amending the City’s 10-year capital expenditure plan for Fiscal Years (FYs) 2024-2033, certificates of participation program.
How it got here
This legislation originated from the need to amend the City's 10-year capital expenditure plan to include financing for the Treasure Island development project.
The Capital Planning Committee unanimously adopted the 10-year capital expenditure plan for Fiscal Years 2024-2033, which was later submitted to the Mayor and the Board for consideration.
The Board approved the Capital Plan, which included provisions for financing through Certificates of Participation for various projects.
The Board adopted an amended Disposition and Development Agreement between the Treasure Island Development Authority and Treasure Island Community Development, LLC, which included a new financing plan for the Treasure Island project.
The Committee adopted the Fiscal Year 2024/2025 General Fund Capital Budget, which included additional funding for critical repairs and street repaving.
The Budget and Finance Committee recommended the resolution to amend the City's 10-year capital expenditure plan to include the Treasure Island COPs.
The Board adopted the resolution amending the City's 10-year capital expenditure plan for Fiscal Years 2024-2033, including the certificates of participation program.
The Mayor approved the resolution, finalizing the amendment to the capital expenditure plan.
Reconstructed from attached documents & the official record
This ordinance allows San Francisco to issue up to $65 million in Certificates of Participation to fund public improvements on Treasure Island. It also approves various agreements and documents related to the financing and management of these funds.
This ordinance allocates $65,550,000 to the Treasure Island Development Authority for infrastructure projects. It includes funding from various sources, such as Certificates of Participation and special taxes, and sets these amounts aside for the fiscal year 2024-2025.
This ordinance allows San Francisco to issue up to $65 million in Certificates of Participation to fund public improvements on Treasure Island. It also approves various agreements and documents related to the financing and management of these funds.
This ordinance allocates $65,550,000 to the Treasure Island Development Authority for infrastructure projects. It includes funding from various sources, such as Certificates of Participation and special taxes, and sets these amounts aside for the fiscal year 2024-2025.
