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Financing Authority elects Chair Carolyn Ransom Scott and Vice Chair Miller
Summary
At its Jan. 6 meeting the San Francisco Redevelopment Financing Authority elected Doctor Carolyn Ransom Scott as chair and Vice Chair Miller as vice chair by unanimous roll-call votes, then authorized actions related to the Mission Bay South bond transaction.
The City and County of San Francisco Redevelopment Financing Authority convened Jan. 6 and elected Doctor Carolyn Ransom Scott as chair and Vice Chair Miller as vice chair. Vice Chair Miller nominated Scott for chair; the roll-call vote was unanimous.
After elections the authority considered the financing-authority item tied to OCII's proposed Mission Bay South bonds. Staff explained that state law limits OCII's ability to sell the new-money 2026 C bonds by negotiated sale and that the financing authority's participation is the mechanism that permits a negotiated sale to underwriters. The authority voted to approve the negotiated-sale mechanics and related bond documents; the motion passed with three ayes and one abstention (Board member Lim abstained).
Outcome and next steps: the financing authority's approval enables OCII to proceed with underwriter selection (Morgan Stanley as lead with Stifel and Wells Fargo as co-managers), oversight-board consideration next week and subsequent submission to the California Department of Finance for review ahead of a targeted August bond pricing and September closing.
