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Committee backs Mission Bay parks transfer agreement, flags long‑term CFD funding questions
Summary
Port, Rec & Park, and OCII staff briefed supervisors on a joint community‑facilities agreement and ground‑lease termination for Mission Bay parks; the CFD (No. 5) will fund operations through 2044 but staff warned projected deficits could appear around 2030–2031 and asked to monitor fund balance.
The Budget & Finance Committee advanced a resolution authorizing a joint community facilities agreement and the termination of OCII’s ground lease for completed Mission Bay parks, with port and recreation and park staff explaining how operations and funding will be split.
Deputy director David Beaupre (Port, representing Real Estate) said the redevelopment plan always envisioned parks returning to city and port ownership. Antonio Guerra (Rec & Park) described an agreement that assigns management responsibilities, scopes services, and divides CFD No. 5 funds; OCII will continue administering CFD revenues restricted to Mission Bay.
Staff said about 23.6 acres are already open, another roughly 10 acres are expected to open in 2024 (including Bayfront Park), and about seven additional acres will open over the next five to seven years. They reported current CFD revenues (~$3M this year) cover operations for the acreage already open but projected that with full build out staff expect a need to draw on CFD fund balance starting around 2030–2031.
Supervisors asked whether the CFD projection would create pressure for general‑fund support; staff said OCII, acting as administrator, would evaluate operations plans and staffing decisions and that Rec & Park and the Port are coordinating closely. Chair Chan asked for a breakdown of public funding sources supporting the project; staff agreed to provide a detailed list of state, federal, regional and bond funds, including the voter‑approved bond component.
With no public comment, the committee forwarded the resolution to the full Board with a positive recommendation.
