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OCII authorizes SB107 bond series for citywide affordable housing and Transbay infrastructure; Mission Bay housing bonds and consultant amendment also approved
Summary
The successor agency approved bonds under newly used SB107 authority — up to $112 million (taxable) for affordable housing and $50 million (tax‑exempt) for Transbay infrastructure — and separately authorized a $55 million Mission Bay housing bond and a $27,500 contract amendment for fiscal consulting; Chair Rosales recused on the Transbay/affordable-housing resolution.
The Successor Agency to the San Francisco Redevelopment Agency voted Dec. 6 to authorize multiple bond issuances under SB107 authority and to approve a contract amendment to support the financing work.
Deputy Director Bridal Mahorter told commissioners that SB107 (state legislation cited during the presentation) gave OCII authority to issue new‑money bonds to support enforceable affordable‑housing obligations and Transbay infrastructure. For the first issuance outside Mission Bay since dissolution, staff proposed two SB107 series: 2017A, a taxable series to fund affordable housing in OCII project areas not to exceed $112,000,000; and 2017B, a tax‑exempt series to fund Transbay infrastructure not to exceed $50,000,000. Mahorter described the credit structure in some detail — RPTTF credits, the new SB107 credit, and preserved Mission Bay pledge credits — and said staff had built conservative not‑to‑exceed interest‑cost assumptions to…
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