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OCII outlines $565.8 million program budget, says new tax‑increment bond will fund affordable housing
Summary
The Office of Community Investment and Infrastructure told the Budget & Appropriations Committee it plans a roughly $565.8 million direct‑program budget for FY2021–22 and intends to issue a tax‑increment bond to finance affordable housing projects in Mission Bay and Hunters Point Shipyard, while promising new financial disclosure policies.
The Office of Community Investment and Infrastructure presented its fiscal‑year 2021–22 program budget to the Board of Supervisors’ Budget & Appropriations Committee on June 14, saying the agency plans roughly $565.8 million in direct spending and expects a new tax‑increment bond to fund a major share of affordable housing in Mission Bay and the Hunters Point Shipyard.
Sally Orth, OCII’s interim executive director, told supervisors the budget’s largest use will be affordable housing spending and that a planned bond would finance more than 300 affordable units in Mission Bay and Shipyard Phase 1. Orth said the agency also expects to use property‑tax revenues, existing fund balances and bonds…
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