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Committee advances $150 million bond sale and appropriations for Health & Recovery projects; staff detail four HSH projects and DPH step‑down facility
Summary
The Budget and Finance Committee advanced a package to issue up to $150 million in general obligation bonds from the city’s 2020 Health & Recovery authorization and to appropriate those proceeds for DPH and HSH projects, including acquisition/rehab of four permanent supportive housing sites and a Treasure Island residential step‑down facility.
(Combined coverage of items 10–12) The Budget and Finance Committee on July 9 considered three linked items to (1) authorize the issuance and sale of up to $150,000,000 of general obligation bonds (series 2025G) drawn from the 2020 Health & Recovery bond authorization, (2) appropriate the proceeds for Department of Public Health (DPH) and the Department of Homelessness and Supportive Housing (HSH) projects, and (3) de‑appropriate unused prior 2021 bond appropriations.
Office of Public Finance staff summarized financing estimates and the projects recommended for this issuance. HSH described requests to use bond proceeds for acquisition and rehabilitation of approximately 450 units of permanent supportive housing across four projects (835 Turk, 685 Ellis, 1035 Van Ness, and 1633 Valencia) with an HSH request of about $105.1 million for acquisition/rehab across these sites and leaving a $10.4 million remainder for future projects. HSH said project totals and matching funding include Homekey/State awards and other city funds; operation and service funding remains subject to separate operating subsidy and program budgets.
DPH presented two projects proposed for bond proceeds: a Treasure Island residential step‑down facility (total project budget $72M; DPH requested $47.1M from the bond issuance) to replace beds lost to redevelopment with 256 step‑down beds and a Health Recovery and Connection Center (preliminary budget $33.4M; $1.0M from this issuance requested) to house consolidated behavioral health access and treatment services.
Office of Public Finance provided updated issuance cost numbers and an estimated debt service schedule; the BLA noted that promised units from previous bond proposals have been delayed and urged caution in approving debt without clearer procurement and project schedules. Committee members asked about project readiness and funding leverage. The committee voted to amend technical line items on the appropriation and forward items 10–12 to the full Board with positive recommendation (Dorsey, Engardio, Chan — 3 ayes).
