Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Staff briefs committee on $2.45B in past bond programs; housing shows $166M uncommitted
Summary
City staff told the Audit and Finance Committee that $2.45 billion was appropriated across 2012–2022 bond programs, about $1.5 billion has been spent, and roughly $166 million in housing bond funds currently remain uncommitted; staff outlined reallocation limits and deauthorization options.
City financial and capital delivery staff told the Audit and Finance Committee on Feb. 3 that the city's 2012–2022 general obligation bond programs total roughly $2.45 billion in appropriations across more than 1,200 projects and that about $1.5 billion of that has been spent.
Eric Bailey, deputy director of Capital Delivery Services, described the distinction between funds spent (payments to contractors), dollars under contract (obligations) and remaining balances (funds with identified spend plans). He said remaining balances are concentrated in a small set of projects and that historically delays arose when bond projects were not fully developed before voter approval. "When we move forward with several bond elections in quick succession, it put a financial strain on the city that we're currently…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
