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Liaisons and auditors brief committee on transit projects, paving closeout, public-health projects and recent bond financings
Summary
Liaison reports covered transit project statuses (Fillmore extension, 19th Ave transit project, Van Ness BRT claims resolved), paving bond near-complete with ~$2.6M remaining, public health bond updates reporting ~$293M expended and encumbrances of ~$45.7M, and public finance reported recent refunding that produced net-present-value savings and several expected issuances.
Committee liaisons and the controllers audit and public finance staff provided a multi-part briefing on bond-program delivery and oversight.
Transit liaison notes: the 22 Fillmore extension to Mission Bay is substantially complete; the 28 Nineteenth Avenue Transit Priority project is about 99% complete; BART canopy work has been delayed by security and material-delivery issues; King Street Station modifications are in closeout with an outstanding change order under review; Van Ness BRT subcontractor claims were approved by the MTA Board and will be paid.
Paving and street safety bond: liaison reported the program has been largely encumbered/spent (about 98–99%) and only approximately $2,600,000 remains; the program is expected to be wrapped up.
Public Health & Safety bond: liaison reported program-wide expenditures of about $293,000,000 with encumbrances of roughly $45,700,000, representing about 95% of appropriations and 97% of the program budget. Several active projects remain at Zuckerberg Building 5 (dialysis relocation, seismic upgrades, public-health lab, psychiatric emergency services), with staggered completion targets through 2025.
Audits and public finance: Mark Dela Rosa from the controllers office summarized recent public integrity reporting (including a March 2024 report about SFPUC procurement with two findings and three recommendations) and said a four-year review of recommendation implementation is in progress. Vishal Triadhi in public finance summarized a recent refunding and defeasance transaction that staff reported yielded net present value savings and previewed planned issuances (a seawall bond ~ $120,000,000, a third issuance for a 2020 bond ~ $150,000,000, the remainder of the 2019 affordable housing authorization ~ $174.6 million, and an initial $30,000,000 issuance for the recently passed March affordable housing bond).
