DBI reports millions in recent high-value permits and preliminary finances showing projected surplus

DBI presented a combined update on major projects and the department’s finances. Assistant Director Christine Gisbaric highlighted high-value permit filings in June 2022 that together represent more than $575 million in construction valuation and are expected to add roughly 1,500 housing units. Notable items included a $430 million application for the South Van Ness site and a 151-unit, 100% affordable Balboa Reservoir-related project valued at $80 million.

Gisbaric said DBI issued three high-value permits in the prior month with a collective valuation over $101 million associated with 178 housing units and that DBI issued certificates of final completion bringing projects worth about $195 million fully online, including 242 Hahn Street (167 affordable units) and 800 Indiana Street (326 units).

Junko Laksamana, DBI’s finance manager, presented preliminary fiscal figures as of June 30, 2022: total revenue $84.3 million with $57.3 million in operating revenue; expenditures recorded at $70.3 million with projected total expenditures of $89.5 million pending processing of additional billings. The department currently projects a $2.5 million surplus once year-end accounting for FY21-22 closes and final numbers will be available in September.

A public commenter asked about a roughly $27 million transfer from the project fund in the operating statement; DBI said staff would look into it and respond outside the meeting.