Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Public Finance topic
No spam. Unsubscribe anytime.
Committee advances first Transbay CFD bond issuance; $138M planned for Transbay Transit Center
Summary
The committee recommended authorizing two series of special tax bonds for the Transbay Community Facility District (aggregate up to ~$208 million); the controller's office said $171M of proceeds would be available to the project, with about $138M earmarked for the Transbay Transit Center and the remainder for streetscape improvements.
The Budget & Finance Committee forwarded a package of items authorizing issuance of special tax bonds for the City & County of San Francisco Community Facility District 2014‑1 to support the Transbay Transit Center project and related infrastructure.
Nadia Cisse of the Controller’s Office described this as the district's first issuance under prior Board authorization; she said the Board previously approved formation of the district and a not‑to‑exceed issuance amount of up to $1.4 billion. For the first sale, the Controller’s Office reported about $171 million would be available to the project from an issuance of approximately $207 million, with roughly $138 million designated for the Transbay Transit Center and the remainder to streetscape improvements within the district. Cisse emphasized the issuance is secured solely by special taxes levied on district properties and is a limited obligation of the city.
The committee took public comment (none present) and moved Items 7–10 together with a positive recommendation to the full Board.
