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OCII adopts ordinances to levy special taxes for Hunters Point CFDs 7 and 8 to enable bond refinancing
Summary
The commission adopted two ordinances (CFD 7 and CFD 8) on second reading to levy special taxes that will allow refunding of prior bonds and to proceed toward bond issuance; both ordinances were adopted unanimously and staff will return for confirmation ahead of July bond issuance steps.
The commission unanimously adopted two ordinances on May 20 to levy special taxes for Hunters Point Shipyard Community Facilities Districts (CFD) No. 7 (infrastructure) and No. 8 (maintenance) as part of a financing plan to refund prior bonds and enable future bond issuance.
Thor Kieslowski, project manager for the Hunters Point Shipyard, explained that CFD 7 originally issued nearly $35 million in bonds in 2005 for…
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