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Public Works details progress and risks on $350 million Public Health and Safety bond
Summary
Public Works told the committee the $350 million Public Health and Safety bond has completed two sales, is funding hospital, clinic and fire projects, and faces bidding and financial-reporting challenges; client departments said projects are advancing to construction.
Joe Chin, Public Works program manager for the Public Health and Safety Bond Program, gave the Seagull Bank Committee a comprehensive update on the $350 million bond, saying two sales have closed and work across six bond components is moving from design into construction.
Chin said the bond allocates about $272 million to the Department of Public Health, $58 million to the Fire Department and $20 million to the Department of Homelessness and Supportive Housing. Two bond sales were completed — a first sale in March 2017 and a second in June 2018 — and the program is targeting a third and final sale in early 2020. He described progress on…
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