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OCII holds FY2016-17 budget workshop, flags $99,000 administrative fee and SB 107 bond plans
Summary
OCII presented a $15.4 million FY2016‑17 operating budget and discussed a $99,000 gap from an unexpected 10% Administrative Services fee; staff also outlined planned bond issuances enabled by SB 107 and asset‑transfer priorities such as Yerba Buena Gardens and Shoreview Park.
OCII staff presented the second of two workshops on the agency’s FY2016‑17 operating and asset management budget on April 19 and sought commissioner guidance on how to handle a $99,000 shortfall that resulted from an Administrative Services (ADM) 10% fee on six FTE contracted back to OCII.
Deputy Director Brie Mahorder said OCII’s overall operating budget is $15,400,000 and noted that only $5.3 million of that would be paid from property‑tax increment, with the bulk of operations funded by developer payments and other sources. Mahorder said OCII is requesting 2% of total tax increment for administrative costs, below the 3% allowed by law.
Staff explained the $99,000 imbalance stems from ADM’s new 10% administrative charge assessed on labor costs for six…
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