OCII presents ROPS 24–25 plan and begins SB 593 replacement-housing implementation planning

OCII staff presented a workshop on the Recognized Obligations Payment Schedule (ROPS) for July 1, 2024–June 30, 2025, requesting roughly $693.4 million to support affordable housing loans, park and infrastructure projects, debt service and operating costs.

Senior budget manager Mina Yu and housing program manager Elizabeth Colomillo walked commissioners through budget sources and principal uses. The request emphasizes continued funding for Transbay infrastructure and parks, Mission Bay infrastructure and affordable housing, and Hunters Point Shipyard obligations. The ROPS includes a first-time request for residual RPTCF funds to cover a planning line for replacement housing environmental review in Mission Bay.

Colomillo highlighted that housing expenditures (about $343 million requested) cover predevelopment and construction activities across OCII’s three project areas, with the largest share in Transbay. Staff noted prior years’ carry-forward funds and that a portion of future replacement housing would rely on SB 593-authorized bond issuances; staff projected the first SB 593 bond issuance could occur in 2025–26 and said fiscal year 24–25 will be a planning year for implementation.

Commissioners asked clarifying questions about funding sources, staffing allocations, and contingencies tied to market conditions. Staff noted changes from prior years—including reduced bond-proceeds requests and a shift to more specific sources for staff time—reflecting market realities and an intent to spread fiscal risk across bond proceeds, reserve balances and other funds.

This item was presented as a workshop; the oversight board will vote on the ROPS on Jan. 24 and the schedule will be submitted to the state Department of Finance.