OCII presents $712M budget and $75M bond plan to fund housing, parks and infrastructure

Thor Kalowski, executive director of the Office of Community Investment and Infrastructure (OCII), presented the agency's interim and proposed budgets and a bond authorization request at the committee hearing.

Kalowski said OCII plans a $712,000,000 budget for fiscal 2023-24 and described a housing and parks pipeline that includes completion of Mission Bay Park P22, life sciences and residential projects in Mission Bay, Transbay park construction and early stages of Hunters Point Shipyard housing infrastructure. He said OCII expects to deliver roughly 22,000 units across its major project areas over time and is roughly midway through that production target.

Kalowski told the committee OCII would issue bonds not to exceed $75,000,000 to finance a portion of enforceable obligations; about $330,000,000 of the agency budget is devoted to affordable housing via loans and bond financing, $178,000,000 for parks and infrastructure, and $146,000,000 for debt service. He said 90% of OCII's budget is devoted to housing, parks and infrastructure and debt service.

Members of the public raised environmental and health concerns tied to shipyard redevelopment during the OCII public-comment period. After discussion the committee forwarded the interim and proposed OCII budgets to the full Board with positive recommendations.