OCII adopts $685.2 million FY2024–25 budget and approves $48 million in CFD levies

The Office of Community Investment and Infrastructure Commission voted April 16 to approve the agency's fiscal-year 2024–25 budget, totaling approximately $685,200,000, and to authorize the executive director to submit the budget and interim budget to the mayor's office and the Board of Supervisors.

Senior budget and project finance manager Mina Yu summarized OCII's planning process, explaining the agency uses a Recognized Obligation Payment Schedule (ROPS) and prioritizes bond proceeds and other restricted funds before drawing on the city's property tax increment (PTI), which typically provides about 20% of the annual budget. Yu said roughly 80% of the budget reflects multi-year capital spending for affordable housing and infrastructure projects, funded primarily by bond proceeds. She noted OCII reduced its PTI draw by about 5% in the prior year and detailed the agency's ongoing coordination with the city controller's office and the state Department of Finance.

Commissioners thanked staff for the analysis and asked whether public art projects are included; staff said many development projects include art components and specific art projects were discussed at the budget workshop. The commission voted 5–0 to approve the budget; OCII will next work with the mayor's budget office and then the Board of Supervisors, which has final authority over the city's budget.

Separately, the commission approved budgets and special tax levies for Community Facilities Districts administered by the successor agency, with a total CFD budget of approximately $48,000,000. Yu said about $20,500,000 of the CFD spending will be funded from the 2024–25 special tax levy and the remainder from fund balances; uses include debt-service payments, parks and streetscape maintenance, infrastructure reimbursements, and administrative expenses. That item also passed on a unanimous 5–0 vote.

Both budget actions reflect the agency's project-area priorities (Hunters Point Shipyard, Candlestick, Mission Bay and Transbay) and the regulated constraints on PTI and bond proceeds that shape OCII's multi-year capital programming.