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OCII advances Hunters Point Shipyard CFD changes and bond steps; property-owner ballots approve RMA updates
Summary
The Commission completed change proceedings and introduced ordinances for Community Facilities Districts (CFDs) 7 and 8 for Hunters Point Shipyard Phase 1, approved revised rate-and-method apportionments and called property-owner elections that returned ballots overwhelmingly in favor; the Commission authorized moving forward toward bond issuance (not-to-exceed $40 million) subject to Oversight Board and Department of Finance approvals.
The Commission advanced a package of actions to finance Phase 1 infrastructure and maintenance for the Hunters Point Shipyard redevelopment, concluding public hearings, adopting resolutions and introducing ordinances for Community Facilities Districts (CFDs) No. 7 (improvements) and No. 8 (maintenance).
Thor Kislawski and staff explained RMA updates to reflect the project’s development program and to exempt streets, walkways and parks from taxable property lists; they also described administrative flexibility to relocate affordable-housing parcels within Phase 1 if needed. The Commission previously authorized selection of underwriters, bond documents and a bond issuance cap not to exceed $40 million; staff said final bond issuance requires Oversight Board and State Department of Finance approval and will follow second readings and confirmation steps later this summer.
Property-owner ballots were opened in the meeting for both CFDs: for CFD 7, 33 votes were cast in favor and none against (meeting the two‑thirds property‑owner threshold); for CFD 8, 36 votes were in favor and none against. The Commission adopted the associated resolutions and introduced the ordinances on first readings, with second readings scheduled for May 20 and a confirmation action expected in July before issuance.
Commissioners and public commenters emphasized community involvement and requested continued attention to community-benefit and contracting milestones tied to the DDAs. Staff said a contracting and workforce report is scheduled for the Commission’s forward calendar.
