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OCII previews $706.9M ROPS for FY22–23, highlights $272.8M for affordable housing
Summary
OCII staff presented the FY22–23 Recognized Obligation Payment Schedule (ROPS) totaling $706.9 million, including $272.8 million requested for affordable housing predevelopment and construction, two new bond issuances for Transbay and Mission Bay, and year‑ahead work programs by project area.
OCII staff presented the agency’s FY22–23 Recognized Obligation Payment Schedule (ROPS) at the Jan. 18 meeting, reporting a total ROPS request of $706,900,000 and highlighting major uses and project work programs for the coming fiscal year.
Mina Yu and housing program manager Elizabeth Colomello said the largest ROPS sources are bond proceeds and RPTTF non‑admin dollars. Housing requested $272,800,000 for predevelopment and construction activities across OCII project areas, including Transbay (the largest share, $157.8 million for 524 units), Hunters Point Shipyard and Candlestick Point ($108 million for 517 units) and Mission Bay ($7 million for 330 units). Colomello said the request will fund construction gap loans for five affordable housing projects and two new predevelopment loans.
OCII staff outlined two new proposed bond issuances totaling about $165.4 million in principal (including project funds, cost of issuance and reserves) to fund Transbay parks and Mission Bay South infrastructure. For Transbay, staff said the agency anticipates requesting Department of Finance authority for nearly $143 million of activity and noted that a $37,000,000 TJPA pledge is codified by existing pledge agreements.
Project managers described work programs: in Mission Bay staff plans to start Bayfront Park construction in April and continue infrastructure and entitlement work; in Transbay staff will advance Block 3 and the Under‑Ramp Park design, manage the former temporary terminal site for interim activation, and pursue bond issuances for park construction; Hunters Point Shipyard remains largely infrastructure‑focused with developer reimbursements and community benefits disbursements.
OCII staff said they presented the same workshop to the oversight board and will incorporate comments before submitting ROPS to the State Department of Finance prior to Feb. 1. The presentation was informational and did not require commission action.
