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Committee forwards a set of smaller grants and refunding actions to the Board with positive recommendations
Summary
The Budget and Finance Committee moved several finance and grant items to the full Board with positive recommendations, including a Hetch Hetchy reappropriation for a PG&E feasibility study, a BART grant for pit-stop restrooms, Port of San Francisco bond refunding, early-care grants and the Bayview Gateway property relinquishment.
The committee advanced a package of non-controversial and technical items to the full Board with positive recommendations.
Item 3: The Public Utilities Commission requested reappropriation of $10,400,000 in Hetch Hetchy Power funds for a fiscal feasibility study into a potential acquisition of PG&E distribution assets serving San Francisco. Barbara Hale said $17,200,000 is needed through the fiscal year, $7,800,000 had previously been appropriated, and the request covers contracted legal and expert services. The BLA recommended approval and the committee moved the ordinance to the Board.
Item 5: Public Works requested retroactive acceptance of a BART grant up to $257,500 for three Pit Stop public-restroom locations (16th & Mission, 24th Street Mission, Powell). BART will reimburse Public Works if the resolution is passed; the BLA recommended approval.
Items 6 & 7: The Port of San Francisco sought authority to issue up to $27,000,000 in refunding bonds to refinance certain 2010 port revenue bonds; port staff expect to issue about $24.2M and estimated net interest savings (NPV) of roughly $9.3–9.4M. The committee recommended the refunding to the Board.
Items 8 & 9: Two amendments to early-care grant agreements were advanced; the Office of Early Care & Education described passthrough funding and teacher stipend programs for children up to age 12 and recommended allocations to expand services in underserved neighborhoods. The BLA recommended approval.
Item 10: Public Works presented an ordinance to accept Caltrans relinquishment of a small parcel of right-of-way near Third Street and Mead Avenue to enable the Bayview Gateway project; the relinquishment is proposed at no cost and project funding comes from district funds, a streetscape bond and a $100,000 community challenge grant. The committee moved the item to the Board with a positive recommendation.
All of these items were recommended to the full Board for final action; supporting tables, budget details and exhibit references were cited in the BLA reports for each item.
