A formal position or approval by the Board: Approve the Fiscal Year (FY) 2026-2027 Budget of the Office of Community Investment and Infrastructure operating as the Successor Agency to the Redevelopment Agency of the City and County of San Francisco ("OCII" or "Successor Agency").
Resolution approving the Fiscal Year (FY) 2026-2027 Budget of the Office of Community Investment and Infrastructure operating as the Successor Agency to the Redevelopment Agency of the City and County of San Francisco ("OCII" or "Successor Agency"); and approving the Issuance by OCII of bonds in an aggregate principal amount not to exceed $275,000,000 for the purpose of financing a portion of OCll's enforceable obligations.
How it got here
The legislation originated from the need to approve the FY 2026-2027 budget for the Office of Community Investment and Infrastructure (OCII) and to authorize the issuance of bonds to finance enforceable obligations.
The Oversight Board approved the Recognized Obligation Payment Schedule (ROPS) for July 1, 2026, to June 30, 2027, which includes OCII's total outstanding debts and expenditures.
The OCII Commission approved its annual budget for FY 2026-2027 and authorized the Executive Director to submit it for review to the Mayor and the Board of Supervisors.
The Mayor's Office submitted the proposed budget for FY 2026-27, including the OCII budget and related legislation, to the Board of Supervisors.
The Budget and Appropriations Committee recommended the resolution for the approval of OCII's budget and bond issuance.
The Board of Supervisors continued the item for further discussion and consideration.
Reconstructed from attached documents & the official record
This resolution approves an amendment to a financial agreement that allows San Francisco to use tax revenue to fund public improvements and affordable housing at the Candlestick Point and Hunters Point Shipyard redevelopment sites. It also confirms that the agreement meets environmental standards and aligns with the city's General Plan and planning policies.
