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OCII approves contracts for financial adviser, bond counsel and disclosure counsel for planned tax allocation bond issuances
Summary
The commission authorized three personal services contracts to help OCII issue tax allocation bonds for affordable housing and Transbay infrastructure, with next steps including a fiscal consultant engagement and a State Department of Finance review period.
San Francisco27s Commission on Community Investment and Infrastructure on May 6 approved three separate contracts to support planned tax-allocation bond issuances that will fund affordable housing and infrastructure work across OCII project areas.
The commission voted 5202F205 on each item to authorize: a personal-services contract with KNN Public Finance, LLC for financial-advisory services not to exceed $163,100 (Resolution No. 12-2025); a legal-services contract with Anzel Galvan LLP for bond-counsel services not to exceed $212,000 (Resolution No. 13-2025); and a legal-services contract with the Law Offices of Alexis S.M. Chu for disclosure-counsel services not to exceed $150,200 (Resolution No. 14-2025).
Nick Jones, OCII debt manager, told commissioners the 2025 series will include multiple transactions: roughly $100 million of bonds to support affordable housing (largely Mission Bay South Block 2 East and predevelopment for Candlestick Point Block 11A) and approximately $60 million for Transbay infrastructure, principally the Under-Ramp Park and related Transbay blocks. Jones said the contracts are structured as per-transaction fees (about one-half of each contract amount per transaction) and will be paid from bond proceeds.
Jones described the procurement: firms were selected from a city-established competitive panel after an RFP; staff recommended these teams based on post-dissolution tax-allocation bond experience and familiarity with OCII27s portfolio. He also said a fiscal consultant will be retained in August to project revenue and determine bonding capacity; those materials will be incorporated into the official statement for investors.
OCII staff outlined the regulatory timeline: after the commission and oversight-board approvals the packet will go to the State Department of Finance for a statutorily allowed 65-day review window. If the full review runs its course, staff said they expect to return with a preliminary official statement and authorization to sell the bonds, with a goal of sale and closing in December and project funds available by year-end.
Commissioners asked about recent experience with the Department of Finance; staff said recent reviews and bond approvals were timely but that OCII budgets conservatively for the full 65-day review period.
Actions recorded in the meeting minutes show each contract was moved, seconded and approved on separate roll-call votes with five ayes recorded for each resolution.
