OCII workshop proposes $691 million ROPS for 2026–27 to fund housing, parks and bond debt

The Commission on Community Investment and Infrastructure held a workshop Jan. 20 to review the Recognized Obligation Payment Schedule (ROPS) for July 1, 2026–June 30, 2027, during which staff presented a $691,000,000 request for next-year authorities to fund affordable and replacement housing, infrastructure and bond debt.

Grace Longardino, accountant 4 for OCII finance, told commissioners “In our 26, 27 ROPS, we are requesting approval for $691,000,000 of funds.” Longardino said bond proceeds are the largest funding source and that the request is about $60.9 million higher than the previous year, driven by a Mission Bay South bond issuance and new replacement housing loans.

Elizabeth Colomello, housing program manager, outlined a $163,800,000 housing request mostly composed of carry-forward funds and described implementation of SB 593 replacement housing authority. Colomello said the ROPS includes $171,500,000 in proposed replacement housing expenditures and reiterated statutory constraints: replacement units must meet state redevelopment law affordability rules, may be located citywide, and must include long-term affordability restrictions.

Project-area presentations followed. Nikki Henry summarized a $62,100,000 Mission Bay request focused on parks, streets and a stormwater pump station; Ben Brandon described up to $123,000,000 in Transbay authority that includes a planned infrastructure bond (not-to-exceed ~$71,000,000) to fund UnderRamp Park and a $32,000,000 pledge to the Transbay Joint Powers Authority required by the tax increment and sales proceeds pledge agreement; Lila Hussain reviewed Hunters Point Shipyard and Candlestick Point work with a proposed $10,700,000 budget for infrastructure and developer reimbursements.

Nick Jones, debt manager, walked the commission through bond sources and uses: existing bond debt service of $87,700,000, estimated new bond debt service of $20,900,000 tied to new issuances, and an overall debt program sources/uses total near $133,600,000; he said a refunding could reduce debt service by roughly $800,000 annually.

On operations, Longardino said OCII requests $26,300,000, covering 54 full-time positions, a roughly 4.55% cost-of-living increase, and $4.5 million in retiree obligations. Staff said OCII will incorporate feedback from this workshop into the Oversight Board action meeting on Jan. 26, and then submit the final ROPS to the State Department of Finance by Feb. 1, 2026.

Votes at a glance: the only formal roll-call vote during the workshop approved the Jan. 6, 2026 minutes (motion by Vice Chair Miller; second Commissioner Hakimi; 5 ayes). The ROPS item was presented as a workshop and required no action at this meeting; the Oversight Board will consider it next.

The commission raised questions about the city budget climate and property tax appeals; Director Koslovsky said OCII projects conservatively and will engage the Mayor’s Budget Office as needed. The Navy’s legal and financial responsibility for cleanup at Hunters Point Shipyard was reiterated by staff.

Next steps: the Oversight Board will consider the ROPS on Jan. 26, and OCII will submit the finalized ROPS to the State Department of Finance for review and approval.