The Commission on Community Investment and Infrastructure voted Jan. 7 to confirm issuance of tax allocation refunding bonds for the Mission Bay South redevelopment project and completed officer elections and several procedural items.

The commission approved a resolution authorizing refunding bonds in an aggregate principal amount not to exceed $85,000,000, which staff said is expected to generate an estimated net present value savings of $5.9 million. "We're estimating annual cash flow savings of $1,200,000 and total net present value savings of $5,900,000," said Nick Jones, debt manager for OCII, who led the presentation on the proposed refunding. Jones described the plan to issue roughly $58 million of new principal (mostly tax‑exempt with about $4.7 million taxable) and to use an existing reserve fund and other sources to refund the 2016 D bonds. The commission approved the action by roll call, 5 ayes, resolution number 03‑2025.

Elections and consent votes: The commission held officer elections. Commissioners elected Commissioner Scott as chair (roll call: 4 ayes, 1 abstention) and Vanessa Aquino as vice chair (5 ayes). The consent agenda — approving meeting minutes and authorizing a personal services contract with Hollins Consulting, Inc. for infrastructure coordination services not to exceed $376,692 (resolution 01‑2025) — passed by roll call 4 ayes, 1 abstention. The meeting record shows the chair abstained on two consent votes; the secretary recorded the tallies at the roll calls.

Contract continuation: On agenda item 5d — a proposed personal services contract between OCII as administrator of Community Facilities District No. 1, South Beach, and Corokin Associates (to provide landscape maintenance and related services for an initial three‑year term with an option to extend for up to three additional years, total not to exceed $1,823,152) — staff recommended and commissioners voted to continue the item to Jan. 21. Director Koslovski told the commission staff had received an inquiry from a proposer the day before and recommended continuing to allow the inquiry to be resolved; the motion to continue passed 4 ayes, 1 abstention.

Other business: The meeting opened in hybrid format and included the regular announcements, public comment periods and procedural reports. The commission received no reportable closed‑session actions. The meeting recessed briefly and later adjourned at 3:59 p.m.

Why it matters: The bond refunding is intended to lower borrowing costs for previously issued Mission Bay bonds that financed public infrastructure. The officer elections set the commission’s leadership for the coming meetings. The continuation of the landscape maintenance contract gives staff time to address a proposer inquiry before final action.

Ending: OCII staff said they will proceed with bond pricing and anticipated late‑January closing if the commission’s approvals remain in place, and that the landscape maintenance contract will return to the Jan. 21 commission meeting for final consideration.