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OCII presents $508.1 million ROPS for 2018–19, highlights more than $195 million for affordable housing
Summary
At a Jan. 16 OCII workshop, staff outlined a $508.1 million Recognized Obligation Payment Schedule for July 1, 2018–June 30, 2019 dominated by bond proceeds and earmarked largely for affordable housing loans and infrastructure reimbursements; the oversight board will consider the ROPS Jan. 22 before submission to the California Department of Finance on Feb. 1.
San Francisco — At a Jan. 16 workshop, OCII, the successor agency to the San Francisco Redevelopment Agency, presented a $508,100,000 Recognized Obligation Payment Schedule (ROPS) for fiscal year 2018–19 that staff said will be sent to the oversight board for approval Jan. 22 and then submitted to the California Department of Finance on Feb. 1.
Deputy Director for Finance and Administration Breema Hoarder said the ROPS is the agency's annual list of enforceable obligations and their funding sources. “In layman's language, what this means is it's a list of enforceable obligations, a list of payments that we need to make and their funding source for the fiscal year 18–19,” Hoarder said. She told commissioners the document reflects a major reliance on bond proceeds because the largest planned expenditures are infrastructure reimbursements and affordable housing loans.
Hoarder said the largest single expenditure line in 2018–19 will be affordable housing loans, with staff planning to spend…
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