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OCII holds FY2014–15 budget workshop, reviews administration, debt service and asset-management plans
Summary
OCII staff presented a second budget workshop covering administration, debt service and asset management across project areas; administration expenses were projected near $12.1 million with salaries and benefits a major line, and staff outlined asset transfers and disposition work for Yerba Buena Gardens, Moscone North, Shoreview Park, and other properties.
The Commission on Community Investment and Infrastructure received a high-level overview of the agency’s FY2014–15 administration, debt service and asset-management budgets during a budget workshop on April 15.
Deputy Director Leo Levinson said the administration budget is approximately $12.1 million, with about $7.3 million budgeted for salaries and benefits. He said about $3.9 million is expected from property tax increment (including a $2.9 million administrative cost allowance) and the remainder from reimbursements and other project-specific sources. Levinson highlighted a planned increase to reach approved staffing levels and an anticipated CalPERS contribution rise.
Tracy Reynolds, real estate manager, reviewed asset-management budgets outside major project areas and described near-term transfer and disposition work for Yerba Buena Gardens, the Fillmore garage/commercial parcel, Moscone North, and Shoreview Park. She said the agency expects to use some one-time fund sources this year and that transfers to city departments will continue as parcel transfers proceed.
Commissioners asked detailed questions about disposition costs, legal fees (including specialized bankruptcy counsel used for project bankruptcies), commissioner benefits and insurance, and SBE/MBE/WBE contracting goals on major projects. OCII staff reported SBE participation approaching 50 percent on the Block 6 construction package and said they are continuing outreach and creative contracting strategies to increase MBE/WBE participation.
Public comment included a lengthy community statement from Ace Washington raising concerns about the Western Addition budget, oversight and historical redevelopment impacts; chair and staff offered to follow up and invited additional materials from the commenter. The full budget is scheduled to return as an action item for adoption at the May 6 commission meeting and will then go to the mayor and Board of Supervisors for final action.
