OCII authorizes bond advisory, bond counsel and disclosure counsel to support planned tax‑allocation bond issuances

The Commission on Community Investment and Infrastructure voted unanimously May 6 to authorize three personal‑services contracts to assemble a financing team for planned tax‑allocation bond issuances intended to support affordable housing and Transbay infrastructure projects.

OCII said the 2025 bond plan will include a series to fund roughly $100 million of affordable housing projects (notably Mission Bay South Block 4 East and pre‑development for Candlestick Block 11A) and separate series to fund about $60 million of Transbay infrastructure linked primarily to the Under‑Ramp Park and related Transbay work.

The commission approved: - A financial advisory contract with KNN Public Finance, LLC in an amount not to exceed $163,100 (about $81,550 per transaction). (Resolution No. 12‑2025) - A bond counsel contract with Anzel Galvan LLP in an amount not to exceed $212,000 (about $106,000 per transaction). (Resolution No. 13‑2025) - A disclosure counsel contract with the Law Offices of Alexis S. M. Chu in an amount not to exceed $150,200 (about $75,100 per transaction). (Resolution No. 14‑2025)

Nick Jones, OCII debt manager, said the financing team was selected from city panels and a competitive RFP process and noted the firms’ post‑dissolution experience with OCII transactions. Jones said the fees will be paid from bond proceeds and that OCII will return later this year to request approval of a fiscal consultant, primary bond documents and the preliminary official statement for investor sale.

OCII outlined a statutory review timeline with the State Department of Finance: staff said they budgeted the full 65‑day review period required under state rules, although recent OCII filings have sometimes moved more quickly.

Commissioner Shattuck moved approval of the financial advisor contract (item 5C); Commissioner Lim seconded. The roll call vote for item 5C was: Lim — Yes; Miller — Aye; Shattuck — Yes; Aquino — Yes; Chair Scott — Aye. The motion carried, 5 ayes.

Commissioner Shattuck moved approval of the bond counsel award (item 5D); Vice Chair Aquino seconded. The roll call vote for item 5D was: Lim — Yes; Miller — Aye; Shattuck — Yes; Aquino — Yes; Chair Scott — Aye. The motion carried, 5 ayes.

Commissioner Lim moved approval of the disclosure counsel award (item 5E); Vice Chair Aquino seconded. The roll call vote for item 5E was: Lim — Yes; Miller — Aye; Shattuck — Yes; Aquino — Yes; Chair Scott — Aye. The motion carried, 5 ayes.

OCII staff said the next steps are to return in August seeking approval to engage a fiscal consultant and to seek authorization of the primary bond documents; OCII will then submit the packet to the State Department of Finance for its up to 65‑day review. If the schedule holds, staff anticipate bond sale and closing activity in December and funds available by the end of the calendar year.