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OCII holds ROPS workshop; staff outlines cash‑flow, debt service and proposed uses including Housing Authority elevator repairs
Summary
At a workshop on the Recognized Obligation Payment Schedule for Jan.–June 2015, OCII staff presented a $288.5M six‑month plan, explained an elevated property‑tax request and shortfall risks, described a preferred treasurer’s cash‑flow loan option, and discussed proposed use of $8.2M in excess tax‑exempt bond proceeds (including about $3M for Housing Authority elevator repairs and $5M for preservation grants).
At an informational workshop, OCII staff presented the Recognized Obligation Payment Schedule (ROPS) for Jan. 1–June 30, 2015 and outlined funding sources, expected cash‑flow constraints, and proposed uses of certain bond proceeds.
Deputy Director Leo Levinson told the Commission the six‑month ROPS totals $288.5 million and includes $69 million in bond proceeds, about $110 million in other funds (primarily developer fees and lease revenues), and a property‑tax request of about $109 million for project costs and…
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