OCII approves $622M budget for housing and infrastructure for 2025-2026

The San Francisco City Commission convened on April 15, 2025, to review and approve the budget for the fiscal year spanning July 1, 2025, to June 30, 2026. The proposed budget totals approximately $622 million, focusing on key projects in housing, parks, and infrastructure across three primary project areas: Mission Bay, Transbay, and Candlestick Point.

Director Koslovsky opened the meeting, welcoming commissioners and acknowledging the reappointment of Dr. Scott. The budget presentation was led by Mina Yu, the acting deputy director of budget and finance and administration, along with project managers from each area. Yu outlined the agency's responsibilities as the successor to the redevelopment agency, emphasizing the completion of enforceable obligations approved by the State Department of Finance.

The budget aims to fulfill significant commitments, including the construction of 22,000 housing units, the development of 379 acres of parks, and the creation of 13 million square feet of commercial space. Specific initiatives for the upcoming fiscal year include completing infrastructure in Mission Bay, designing two parks in Transbay, and commencing construction on Block 48.

Yu detailed the budget's funding sources, highlighting that the majority comes from prior period authority, property taxes, and bond proceeds. A year-over-year comparison indicated a decrease of approximately $62.9 million, primarily due to changes in the affordable housing project pipeline and a planned reduction in debt service schedules. However, this decrease is counterbalanced by an increase in bond issuance for affordable housing and infrastructure projects.

The budget allocates about half of its resources to affordable housing, with additional funds directed toward infrastructure and community development programs. The commission is set to submit the approved budget to the mayor's office and the Board of Supervisors for final approval, marking a critical step in advancing San Francisco's development goals for the coming year.