Community Investment and Infrastructure, Commission - Regular Meeting

My name is Dr. Carolyn Ransom Scott, and this is a regular meeting of the Commission on Community Investment and Infrastructure for Tuesday, January 6, 2026. I'd like to welcome everyone joining us and say Happy New Year. Today's meeting is being held in hybrid format. Members of the public can participate and provide comments both in person at City Hall and remotely by phone. Thank you to the staff and guests who will also be participating in today's meeting. Madam Secretary, please call the first item.

Thank you, Madam Chair. The first order of business is item one, roll call. Commission members, please respond when I call your name. Commissioner Lim. Here. Commissioner Shattuck.

Here.

Vice Chair Miller.

Here.

And Chair Scott. Present. We currently have one vacant seat. All other members of the commission are present. Madam Chair, we have a quorum. The next order of business is item two, announcements. Item eight, the next regular meeting is scheduled on Tuesday, January 20th, 2026 at 1 p.m. Item B, announcement of prohibition of sound producing electronic devices during the meeting. Please be advised that the ringing of and use of cell phones, pagers, and similar sound producing electronic devices are prohibited at this meeting. Please be advised that the chair may order the removal from the meeting room of any persons responsible for the ringing of or use of a cell phone, pager, or other similar sound producing electronic device. Item C, announcement of public comment procedures. Please be advised a member of the public has up to three minutes to make pertinent public comments on each agenda item unless the commission adopts a shorter period on any item. During each public comment period, members of the public attending the meeting in person will have an opportunity to provide their comments. It is strongly recommended that members of the public who wish to address the commission fill out a speaker card and submit the completed card to the commission secretary. Members of the public who are joining remotely will be instructed to dial 415-655-0001 And when prompted, enter access code 26614292860, followed by the pound or number sign, then the pound or number sign again to enter the call. When prompted, please press star 3 to submit your request to speak. When you dial star 3, you will hear the following message. You have raised your hand to ask a question. Please wait to speak until the host calls on you. When you hear your line has been unmuted, this is your opportunity to provide your public comment. You will have three minutes. Please speak clearly and slowly. You will be placed back on mute once you are done speaking. You can stay on the line and continue to listen to the meeting. You can also choose to hang up. If you are planning to provide a public comment on any items on today's agenda, it is recommended that you call the public comment line ahead of time to allow you to listen to the meeting live and to prevent you from experiencing delays. Today's meeting materials are available on our website at sfocii.org under Commission, then the Public Meetings tab. The next order of business is item three, report on actions taken at a previous closed session meeting, if any. There are no reportable actions. The next order of business is item four, matters of unfinished business. There are no matters of unfinished business. The next order of business is Item 5, Matters of New Business, consisting of consent and regular agenda. First is the consent agenda. Item A is approval of minutes, regular meeting of December 2, 2025. Madam Chair.

Madam Secretary, at this time, do we have anyone from the public who wishes to provide a comment?

If there are any members of the public who wish to provide public comment on the minutes, please call 415-655-0001, enter access code 2661-429-2860, followed by the pound sign, and then the pound sign again to enter the call. Please press star 3 to be placed in the queue if you're already listening to us by phone Please press star 3 if you would like to provide a comment and we'll begin by inviting members of the public who are here in person If you would like to provide comments on the minutes, you may come up to the podium at this time My name is Francisco da Costa and

I was listening to your previous meeting and the way a gentleman was talking about the Bayview and outreach. And we the people, we the citizens, we the constituents of the Bayview have never seen this person before. And yet, he's been given the opportunity to dole 800,000 or so over a period of three years without the community getting involved. This must stop. I don't have to come here to teach the commissioners what is right and what is wrong. And I say this because the Bayview has helped the city a lot, but the city has not helped the Bayview. And it all happened when Dianne Feinstein became the mayor. She got rid of the resources from the joint housing and all. Very few people know this. So when you all have these large amounts of money, We don't need a few people who are not respected by the community that this money is doled out. You have to be fair. You have to be fair. And in order to do this, you have to contact the right people, the people who are leaders. A good leader knows the way, shows the way, and goes the way. So that's what I have to say about your last minutes doling out the money, naming individuals who are not respected by the community. Thank you very much.

Thank you, Mr. DaCosta.

Thank you, Mr. DaCosta.

Are there any other members? Seeing none in person, Going to our remote callers, I do not see anyone with their hands raised. Madam Chair, it does not appear we have any other members wishing to comment at this time.

Hearing no further request to speak at this time for this item, I will close public comment. Fellow Commissioners, can I get a motion to approve of the minutes?

Motion to approve.

May I get a second?

I'll move to second that motion.

Madam Secretary, please take roll.

Motion made by Commissioner Shattuck, seconded by Vice Chair Miller. Commission members, please announce your vote for the minutes when I call your name. Commissioner Lim.

I was not present at the meeting, so I don't have any comment.

Thank you, Commissioner. Commissioner Shattuck. Yes. Vice Chair Miller.

Yes.

Chair Scott. Yes.

Yes.

Madam Chair, the vote is three ayes and one abstention.

Motion carries. Madam Secretary, please call the next item.

The next order of business is the regular agenda. After the regular agenda item 5B is considered, the Commission on Community Investment and Infrastructure will recess to consider items on the financing authority agenda, after which the Commission on Community Investment and Infrastructure will reconvene to consider the remaining agenda. Item 5B is authorizing the issuance of new money tax allocation bonds in an aggregate principal amount not to exceed $48 million and refunding tax allocation bonds in an aggregate principal amount not to exceed $170 million and approving and directing the execution of a third supplemental indenture of trust, a bond purchase contract and irrevocable refunding instructions AND APPROVAL OF OTHER RELATED DOCUMENTS AND ACTIONS MISSION BASED SOUTH REDEVELOPMENT PROJECT AREA DISCUSSION AND ACTION RESOLUTION NUMBER 1-2026 DIRECTOR KOSLOVSKY

Thank you, Madam Secretary, and greetings, commissioners and members of the public. Happy New Year. Happy 2026. As the Secretary stated, this item is an issuance for bonds, for tax allocation bonds to Mission Bay South for infrastructure projects in that project area. As was stated, one portion of the bonds is for new money, approximately $40 million to pay for projects, some in progress, some partially completed. And the other portion is refinancing approximately $170 million that will refinance existing bonds for primarily better interest rates, resulting in a cost savings. And to present this item is Nick Jones from the OCAI finance team. Nick.

Good afternoon, Commissioners, Chair Scott. I'm a little sick, so I'll try not to infect the microphone. So as Director Kaslowski mentioned, we are here seeking approval for the issuance of two series of tax allocation bonds for Mission Bay South. The 2026C bonds would be the new money bonds, and the enabling authority for those is California Health and Safety Code section 34177.5 subsection 84. And the 2026D series bonds would be the refunding bonds. And the enabling authority for those would be California Health and Safety Code section 34177.5, subsection A1. And in addition, Article 11 of Chapter 3 of Part 1 of Division 2 of Title V of California Government Code that deals with refunding bonds specifically. The 2026C bonds purpose would be to issue not to exceed $48 million in principal amount of bonds to reimburse the developer for Mission Bay South infrastructure. This infrastructure includes unaccepted infrastructure in P3 and Blocks 29 through 34, P2 and P8, which is the Mission Creek extension, P19 and P22, those are all parks, stormwater pump station number three, Bridgeview Way midblock, and a school play yard. And for the 2026 D refunding bonds, The purpose is to issue not to exceed $170 million of principal amount to refund for debt service savings, OCIS series 2014A, 2016B, and 2016C bonds. The way we would lock in debt service savings through the refunding is by achieving a lower interest rate on the refunding bonds than we are currently paying on the outstanding bonds to be refunded. Here you can see a breakdown of the sources and uses for both the 2026C bonds in the first column and the 2026D refunding bonds in the second column. So you'll see the bond proceeds line, that number stays below the not to exceed amount. We have a release of a debt service reserve fund that is currently held in connection with the 2014A bonds. And those provide the total sources of funds. And then the uses of funds, you can see the new money bonds. We're anticipating a project fund of approximately $40 million and then paying various costs of issuance. to arrive at a total uses of funds of $40.6 million. For the refunding bonds, the roughly $137 million of sources will go primarily to the refunding escrow to pay off the existing bonds to be refunded. And then there are also transaction costs and costs of insurance and a reserve surety policy for the reserve fund. So those total the $137 million of uses. For the 2026D bonds, we have an estimate here of the savings we expect to generate through the issuance. So you can see in the table at the top right the bond year going down in the different rows. The existing debt service we're paying on the 2014A, 2016B, and 2016C bonds is the next column, which is about $11.9 million annually for a total of $202 million. We estimate that the 2026d refunding bonds will produce debt service of only $11.1 million annually, which results in the savings of approximately $800,000, as you can see in the final column. And over the life of the bonds, which lasts until August 1 of 2043, we anticipate total savings of $14.8 million. And again, this is expected to be achieved by refinancing the existing bonds, which are paying an interest rate of 5%, with the refunding 2026 bonds at an estimated interest rate of 4.5%. And some additional key assumptions in the table at the bottom right that are used in the municipal advisor's debt service savings analysis, where all these numbers came from and which is an exhibit to the resolution. The true interest cost, you can see, is estimated at 4.5%. And the underwriter's discount, which is the compensation paid to the underwriter for selling the bonds to investors, is estimated at 0.3% of the principal amount of the bonds. So the proposed action before you today is to approve the bond issuance and the associated documents. And specifically, the associated documents here that are exhibits to the resolution are the third supplemental indenture of trust. That lays forth the date, manner of payment, interest rates, payment dates, denominations, form, and other terms of the bonds. The irrevocable refunding instructions, which provide the mechanics, details, amounts, and dates for the refunding of the existing bonds that we're planning to refund, which is the 2014 A and 2016 B and C bonds. And finally, the bond purchase contract, which is a contract between OCII and the underwriter for selling the bonds to investors. That contains the principal amount the underwriter's discount, which is the compensation paid to the underwriter for selling the bonds to investors, as well as the coupons and yields, so the interest rates, of the proposed 2026C and 2026D bonds, all of which will be finalized and determined on the day of bond pricing. The other action before you today is to approve the underwriter selection. So OCI has gone through a request for proposals process to select the underwriting team. We issued a request for proposals to the city's underwriter pool. and received five responses. We evaluated and scored those responses by a selection panel with specialty knowledge in bond finance. And we selected Morgan Stanley as the lead underwriter and Stiefel and Wells Fargo as the co-managers. So after the action today, the remaining actions necessary to complete the bond transaction include oversight board consideration of bond issuance, which we have scheduled for next week, then submission of the oversight board approval resolution and related documents to the California Department of Finance, which is scheduled to happen as soon as possible after the oversight board meeting. The Department of Finance then has 65 days, up to 65 days, to review and approve or decline to review the bond issuance. After Department of Finance approval, or if they decline to review, staff will return to the Commission to present for consideration and approval the preliminary official statement, which is the offering document offering the bonds to investors. and to approve other actions necessary for the bond issuance. We are targeting for bond pricing sometime in August. And then we're targeting for closing the bonds, so issuing the bonds and receiving the project funds and paying off the bonds to be refunded sometime in September. So that completes the presentation.

Madam Secretary, do we have anyone from the public who wishes to provide a comment? And thank you so much. Mr. Jones? Yes. Thank you for your presentation.

At this time, if there are any members of the public who wish to provide public comment on item 5B, please call 415-655-0001, enter access code 2661-429-2860, followed by the pound sign and then the pound sign again to enter the call, followed by star then three to be placed in the queue. If you're already listening to us by phone, please press star three if you'd like to raise your hand virtually. And then we'll begin with inviting members of the public in person. If you'd like to provide a public comment on this item, please come up to the podium at this time.

About a year ago, a few of us addressed some members the higher level from this commission. where the whole meeting was announced but was not legal, because the way the agenda was addressed. However, we went and we followed the agenda, much like how this gentleman, and I think he was at that meeting too, and we addressed health, we addressed infrastructure, and we addressed health more because we have to look at our infants, our children, our seniors, and how this money is spent. There are There's language on health, but who addresses health? Who brings that information to our community? We know that the Department of Health uses the community, does surveys, gets millions of dollars, but does not invest any money in the community. Now, when you have this bond measure, You are addressing not only the infrastructure, not only the vertical building, not only the horizontal building, but pumps and liquefaction, because the whole area is not safe. It's infill. And these things are not known to the layman. These things are only known to those people who get deep into how these bonds are going to be spent, who's going to be involved. And you know that the success agency to the San Francisco redevelopment has an obligation to the state. And the state doesn't know how y'all do the business. So I'm just leaving it at that. But we did address this some nine months ago to this small commission meeting where a president and a vice president was elected. And we spoke to this same issue in the bond measures. Thank you.

Thank you, Mr. DeCosta.

Seeing no other members of the public in person, moving over to our remote callers. Again, if you'd like to provide a public comment, please press star 3 if you already called in. Seeing none, Madam Chair, it does not appear we have any other members of the public wishing to comment on this item.

Hearing no further request to speak on the item, I will close public comment. Fellow Commissioners, do you have any questions, comments, or concerns on this item? Vice Chair?

Thank you, Dr. Scott. Nick, thank you for the for the presentation. It looks like we're going to be saving nearly $15 million over the term of the bonds. Obviously, interest rates have come down, making that possible. It's great that we've refinanced this. And those estimates were a few months ago on the savings.

Yes, that's correct. The municipal advisor, and they're actually in attendance today, along with other members of the bond team virtually, they provided in connection with the preparation of the resolution materials. So it's an exhibit to the resolution, an estimate of the sources and uses and the savings as of November 3rd. So it's about, what, two months old.

And there's no way you can predict what it'll be when the bonds actually sell, but it looks like the interest rates are in that 4.5%.

Yeah, and we actually did get a preliminary update from them. So they have, as of a couple weeks ago, estimated that savings is even stronger than what's shown in the presentation.

Great. Thank you, Nick.

I don't have any.

Commissioners, can I get a motion to approve of item 5B? I move to approve. May I get a second? I'll second the motion. Madam Secretary, please take roll.

Motion made by Commissioner Lim, seconded by Vice Chair Miller. Commission members, please announce your vote for Item 5B when I call your name. Commissioner Lim?

Yes.

Commissioner Shaddix? Yes. Vice Chair Miller? Yes. And Chair Scott? Aye. Madam Chair, the vote is four ayes.

Motion carries.

The Commission on Community Investment and Infrastructure will now recess to consider items on the Financing Authority agenda, after which, again, the Commission will reconvene to consider the remaining agenda. Madam Chair.

May I have a motion to recess? May I get a second?

I'll second.

It is now 1.24 and we are in recess. For how long? Good afternoon. This is a regular meeting now of the Board of Directors of the City and County of San Francisco Redevelopment Financing Authority for Tuesday, January 6, 2026. We're calling the meeting to order at 1.26 PM. Madam Secretary, please call the first item.

Thank you, Madam Chair. The first order of business is item one, roll call. Board members, please respond when I call your name. Board Member Lim. Here. Board Member Shaddix.

Yes.

Vice Chair Miller.

Here.

And Chair Scott. All members of the board are present. The next order of business is item two, approval of minutes. There are no minutes to approve. The next order of business is item three, report on actions taken at a previous closed session meeting, if any. There are no reportable actions. Next order of business is item four, matters of unfinished business. There are no matters of unfinished business. The next order of business is item five, matters of new business. First is the consent agenda. There are no consent agenda items. Next is the regular agenda. Regular agenda item 5A is election of chair and vice chair, discussion and action. Madam Chair.

I will now entertain nominations for the office of chair.

I'll nominate Dr. Scott.

Are there any other nominations for chair Hearing none nominations for the office of chair is closed Do we have any speaker cards for this item I

At this time, if there are any members of the public who wish to comment on this item, please call 415-655-0001, enter access code 2661-429-2860, followed by the pound sign and then the pound sign again to enter the call, then press star 3 to be placed in the queue. We'll begin by inviting members of the public in person. If you'd like to provide a comment on this item, you may come up to the podium at this time. Seeing none, moving over to our remote callers. If there are any callers, press star 3 to raise your hand virtually. Madam Chair, it does not appear we have any members of the public wishing to comment on this item.

Thank you, Madam Secretary. Hearing none, nominations for the Office of Chair is closed. And do we have any speaker cards for this item?

We just did the speaker cards, Madam Chair. So we can close public comment. All the way down.

Okay. Thank you. I'm sorry. That's okay. So hearing no further requests to speak on the item, I will close public comment. Can I get a motion to approve?

A motion to approve Dr. Scott as the chair. I'll second.

Madam Secretary, please call roll.

Motion made by Vice Chair Miller, seconded by Board Member Shaddix. Commission members, please announce your vote. When I call your name, Commissioner Lim?

Yes.

Commissioner Shaddix? Yes. Vice Chair Miller? Yes. And Chair Scott? Aye. Madam Chair, the vote is four ayes.

Motion carries. The elected chair of the financing authority is myself, Dr. Scott. I will now entertain nominations for the office of vice chair. May I get a nomination? Can I nominate Mr. Miller?

I'll second.

Are there any other nominations for vice chair? Hearing none, nominations for the Office of Vice Chair are closed. Do we have any speaker cards for this item?

If there are any members of the public who wish to comment on this item, you may call 415-655-0001, enter access code 2661-4292860, followed by the pound sign and then the pound sign again to enter the call. Then press star 3 to virtually raise your hand. We'll begin by inviting members of the public in person. If you'd like to comment on this item, you may come up to the podium at this time. Seeing, oh, excuse me.

As I said earlier, nine months ago, we had a similar situation where they appointed a chair and a vice chair. And at that time, both of them were women, which was good. Because we have a situation in the Bayview where our infants, our children, our youth, our young adults, and our elders are treated with disdain. And we have commissioners who get no orientation The main purpose is to do something. But when you ask them, what are you doing for the community, they have no answer. So we are not a cabal. We don't encourage cabals in this city. But this city has come of commissioners of cabals. And it's insulting to the community that the community is hurting so much. But they are fed up. And we have meetings every Wednesday with our elders to discuss these things. But they don't want to come to City Hall. They don't want to give their comment. And when you reach a stage like that, then you get what we have now in Washington, DC. One of the reasons we have what we have in Washington, DC is because when the Democrats were in power, they did not listen to the people. What is happening in this city is no One is approaching the citizens at every level, in small groups or bigger groups, even our youth and children, and asking them, what is their opinion? How do they feel? They are all suffering. I mean they are suffering, especially now because they cannot deal with the Premiums and they cannot deal with there's no food security and so on and so forth. So you are a commission Somehow you have to accommodate a community.

Thank you very much Are there any other members of the public wishing to comment on this item Moving over to our remote callers Again, if you'd like to provide a public comment, please press star 3 to raise your hand virtually. Seeing none, Madam Chair, it does not appear we have any other members of the public wishing to comment at this time.

Hearing there are no other comments, Do we have anything from our fellow commissioners? No. Madam Secretary.

We'll need a motion to approve the nomination for vice chair, Madam Chair. It's to get a motion for the vice chair.

Thank you. We're ready for our motions. May I get a motion?

Motion second it's been first and second madam secretary, please Thank you motion made by board member Shattuck's seconded by board member Lynn Board members, please announce your vote and I call your name board member Lim. Yes board member Shattuck's Yes, vice chair Miller. Yes and chair Scott aye Madam chair the vote is for ayes motion carries

The elected Vice Chair of the Financial Authority is Vice Chair Miller.

Next is agenda item number 5B, authorizing the purchase and sale of the successor agency to the redevelopment agency of the City and County of San Francisco. 1. 2026 Series C. TAX ALLOCATION BONDS MISSION BASE SOUTH REDEVELOPMENT PROJECT IN AN AGGREGATE PRINCIPAL AMOUNT NOT TO EXCEED $48 MILLION AND TWO, 2026 SERIES D TAX ALLOCATION REFUNDING BONDS MISSION BASE SOUTH REDEVELOPMENT PROJECT IN AN AGGREGATE PRINCIPAL AMOUNT NOT TO EXCEED $170 MILLION, APPROVING THE FORM OF BOND PURCHASE CONTRACT AND AUTHORIZING THE NEGOTIATED SALE OF THE BONDS. and authorizing and approving other matters properly relating thereto, Mission Bay South redevelopment project area, discussion and action, resolution number 1-2026. Director Kozlowski.

Thank you, Madam Secretary, members of the financing authority, members of the public. Happy New Year. This item here is for the issuance of tax allocation bonds for infrastructure projects in Mission Bay South. There's a new money issuance of approximately $40 million for projects that are underway, partially complete. and a refinancing of approximately $170 million to refund existing bonds for cost savings. And Mr. Nick Jones from our financing division will explain why we're having this financing authority meeting as well as what's happening with these bonds and the cost savings associated with it.

Nick. Good afternoon again. I'll just pull up the presentation here. Can you see that? OK, great. OK, good afternoon, board members, Chair Scott. This presentation covers the series 2026C and 2026D mission-based south bonds in relation to the financing authority action. So the bonds have different enabling authorities. The 2026 new money bonds are going to be issued under authority provided in California Health and Safety Code section 34177.5 subsection A4. And the 2026D refunding bonds will be issued under California Health and Safety Code section 34177.5 subsection A1 and a section of the government code that allows for refunding bonds. The purpose of the 2026C new money bonds is to issue not to exceed $48 million in principal amount to reimburse the developer for mission-based south infrastructure, including unaccepted infrastructure in P3 and blocks 29 through 34, P2, P8, Mission Creek Extension, P19, P22, those are all parks, stormwater, pump station number three, Bridgeview Way Mid-Block, and School Playard. The 2026D refunding bond's purpose is to issue not to exceed $170 million to refund for savings series 2014A, 2016B, and 2016C by locking in debt service savings from lower market rates. The sources and uses provided shows the bond proceeds from the issuance of bonds. And for the 2026-D refunding bonds in the second column, there's also a release of the debt service reserve fund associated with the 2014-A bonds. The uses of funds include the $40 million estimate for project funds for the 2026c new money bonds and approximately $135 million in funds for the refunding bonds. Both of those are the main uses of funds. There are then transaction costs and costs for procuring bond insurance and reserve surety policies to fund a debt service reserve. For the 2026 D bonds, the estimated savings will be generated by refinancing the existing bonds, which pay an interest rate of 5%, with the refunding bonds, which will pay an estimated interest rate of 4.5%. And you can see in the table in the top right that that is expected to generate savings of approximately $790,000 annually for a total of $14.9 million over the term of the bonds, which lasts through 2043. At the bottom of the slide, there's a box summarizing the key assumptions that are used in the municipal advisor's debt service savings analysis, which is an exhibit to the commission resolution. And that includes the true interest cost, which is that 4.5% number, and the underwriter's discount, which is 0.3% of the principal amount. That's the compensation we expect to pay to the underwriter for selling the bonds to investors. This is the key difference here and the key action between the commission action and this financing authority action. The financing authority is being asked today to authorize a negotiated sale of these bonds. And the reason the financing authority is participating in this bond sale transaction is because the majority of municipal bonds in the United States are sold on a negotiated basis, meaning you negotiated with a preselected underwriter. Agencies like OCII that issue specialized types of bonds, such as our tax allocation bonds for redevelopment finance, have greater certainty of favorable terms when we sell bonds via a negotiated sale with a preselected underwriter. Therefore, a negotiated sale is beneficial to OCII. However, under applicable law that still applies to the Mission Bay South bonds, OCII must sell the 2026C bonds, the new money bonds, at public sale, which excludes negotiated sales. And therefore, we cannot sell these bonds on a negotiated basis directly to underwriters under applicable law. Therefore, the 2026 bonds may only be sold on a negotiated basis if they are sold by OCII to the financing authority, and then the financing authority sells them to the underwriters. There's a separate law that governs the types of sales that a financing authority can engage in, and that permits negotiated sales. The financing authority last convened in 2017 And that was in connection with the negotiated sale of OCII's 2017 D&E subordinate tax allocation bonds. The other action before you today is to approve the bond purchase contract. This is the same bond purchase contract that Commission acted on. The bond purchase contract contains the principal amount, underwriter's discount compensation, and the coupons and yields, which is the interest rates of the proposed 2026C and 2026D bonds, all of which will be determined and finalized on the day of bond pricing. So after the action today, the remaining actions necessary to complete the bond transaction include the oversight board consideration of this bond issuance, which is scheduled for next week. Soon thereafter, we plan to submit the oversight board resolution and related documents to the California Department of Finance for review and approval. The Department of Finance then has up to 65 days to review and approve or to decline to review the bond issuance. after that period of time the commission will act on another item which is the preliminary official statement and other actions necessary for bond issuance and that will be the final commission action before We undergo the bond pricing, which is scheduled for August, and the bond closing, which is scheduled for September, at which point we also receive the project funds for the 2026C bonds and the refunding funds for the 2026D bonds, which will be used to pay off the series 2014A, 2016B, and 2016C bonds. And that concludes.

Mr. Jones, can you stay in the mic, please?

Certainly.

Thank you. Shall we call? And you're done, sir?

Oh, yes.

Okay. You were fading and getting away from the mic. Oh, sorry about that. Yeah. You lost my attention to where you were. All right.

So that concludes the staff report on this.

Yeah. So, Mr. Jones, thank you for your report. And Madam Secretary.

At this time, we're inviting members of the public who wish to provide public comment on this item to call 415-655-0001 to enter access code 2661-429-2860, followed by the pound sign and then the pound sign again to enter the call. then pressing star 3 to be placed in the queue. If you are already listening to us by phone, please press star 3 if you'd like to raise your hand virtually. And we'll start by inviting members of the public here in person. If you'd like to provide a comment on this item, you may come up to the podium at this time. Seeing none in person, moving over to our remote callers. Madam Chair, it does not appear we have any members wishing to comment on this item.

Please call the next item.

We'll close public comment and ask if the board members have any questions.

I am sorry. Did I miss that?

And then we'll take a motion after.

Closing public comment. Fellow Commissioners, do you have any questions, any comments or concerns? Quick question.

Nick, if I may query again. On the 2026 bonds, the $48 million bonds, we're reimbursing the developer of Mission Bay South infrastructure. And the phrase is unaccepted infrastructure in blocks 29, 34, and P3. Is that term unaccepted infrastructure meaning it's not yet accepted infrastructure or it's infrastructure that we will not take ownership of?

Good afternoon, Commissioners. Mark Slutskin, Deputy Director. No, it just has yet to be accepted from the city, but it's been built. That's why I assume working on that. Thank you.

If I may, Madam Chair? Chair Scott, if I may?

Yes, sir.

Just to elaborate a tiny bit further, the infrastructure acceptance process is after the completion of infrastructure, the infrastructure has to be accepted formally by the city, usually through the Board of Supervisors in cooperation with the Department of Public Works. And it can be an attenuated process, but there's an inspection the Department of Public Works conducts, and then it goes through the legislative process at the board. Unaccepted merely means it's completed and is somewhere between the formal acceptance and the completion.

I do have a question. I do have a question regarding on item 26C, the bond purpose. The last one on the list is the school play yard. I remember in the last meeting, there was some complaint from the community or from the neighborhood that the contractor was not fulfilling the LBE goal. Well, ever since that, I have not heard any answer today, or they're not.

Yeah, so we've been working with the school district and getting their best-faith efforts. They did not achieve the goal of 50%. It was considerably less. We had been working with them since it was before this commission to try to get the best outcome possible. I don't have the number on top of my head, but it was significantly less than the 50% goal, but the best-faced efforts were.

I remember that I declined their request. at that time. But today you're asking us, the commission, to reimburse or to develop the money. But if the goal is not achieved, it's not made, I do have a problem with that.

Yeah. I mean, part of this is obviously these funds will go towards that. And there are other funds. We're asking kind of what this money will go towards. Again, it was the best fates efforts is the requirement. And they did not achieve the amount of 50% SBE participation. But the efforts that we've worked with them as well as possible based on their contracts to get there.

I feel this commission should enforce this rule.

If I may interrupt, Commissioner Lim, Madam Chair.

Go ahead, Director.

Thank you. So the item before you today is to issue bonds for these purposes for infrastructure in Mission Bay. The obligation to reimburse the developer who is the pass-through, if you will, for the school district construction of the schoolyard is not really before us. What you'll get is an update on the Small Business Enterprise contracting performance later this year that will tell us the conclusion of the good faith efforts on contracting on that project. And so anyway, I just wanted to point out that the matter is not before us today. And we'll give you an update on the status of their contracting. I don't know if that'll be in October sometime this year, but later this year.

Is that clear, Commissioner?

I don't like it, but I have to go along with it, I guess. But that goes to Mr. Francisco's complaint earlier. There's nothing done for the community. What are we doing here? I mean, they're far... They didn't even get close to meeting the goal within 10%, 15%. Very low. So... I, you know, my comment will be I will not reimburse the money for the school play yard item to the developer. That's up to you guys to vote, to do. I form my opinion.

Thank you, Commissioner Lam. And thank you, Director. Is there anything else you want to add to that or clarify? OK. Madam Secretary, are there any other commissioners that wish to speak? No. OK.

I think we'll need a motion, Madam Chair.

Yes.

To approve the item.

We're going to put in a motion. May I get a move?

Yes, I'll move to approve item 5B on the agenda.

May I get a second? I'll second. It's been moved and second. Madam Secretary?

Board members, please announce your vote when I call your name. Board member Lim.

I abstain.

Board member Shattuck.

Yes.

Vice Chair Miller.

Yes.

And Chair Scott.

Aye.

Madam Chair, the vote is three ayes, one abstention.

Thank you.

We'll call the next item, Madam Chair.

Yes.

Next order of business is item six, persons wishing to address the authority on non-agenda but authority-related matters. Public comment on non-agenda items, Madam Chair? Can I go ahead and invite members of the public? Would you please? Yes. Members of the public who wish to provide public comment on non-agenda items, please call 415-655-0001, enter access code 2661-429-2860, followed by the pound sign and then the pound sign again to enter the call. Please press star then three to be placed in the queue. An automated voice will let you know when it is your turn. We'll begin by inviting members of the public who are here in person. If you would like to comment on non-agenda items under the financing authority, please come up to the podium at this time.

I filled out my card, right?

Yes.

OK. So I'm going to address an issue which you all have neglected And that's about how jobs are given in our community. So we took it upon ourselves to do an analysis. And I'm going to send that analysis to you, Tor. Every aspect of it. Every aspect of it. How people are coming from outside, lock, stock, and barrel, and getting their jobs done. and how our youth are watching them, and how certain people in our community, just a few of them, are catered to. But we have done the analysis. And I'm going to provide the data to you all so that you all can do your analysis. Because what we have here is, we have some of y'all, maybe as I see it, only one person who knows something about construction. Okay? But y'all have no clue about the workforce. Y'all have no clue about city build. You have no clue about career jobs. You have no clue about, for example, how you all can work with SFPUC, but do not. You can work with DPW, but you do not. We got a case today. Some school, whatever, whatever, whatever. Okay? So for you all, commissioners, when you do your needs assessment, you have no clue what goes into building a school. You have no clue what is the standard of our children in our community. During the pandemic, our children went backwards 10 years, not one, two, three, but 10 years and are struggling. So you can be a commissioner. You can have a mayor. You can have the president of the board. But if they have no empathy, you're nothing. You're nothing, nothing whatsoever. So I'm going to send you the empirical data, and you provide it to the commissioners so that they know how to do their job. Thank you very much.

Thank you, Mr. DaCosta.

Are there any other members of the public in person who would like to provide a comment? Seeing none, moving over to our remote callers, it does not appear we have any other members of the public wishing to comment at this time, Madam Chair.

Are there any other comments from our fellow commissioners?

No.

Okay. Okay.

The next order of business is item 7, closed session matters. There are no closed session matters. Next order of business is item 8, adjournment from finance authority, Madam Chair.

Board members, I'll need a motion and a second to adjourn financing authority meeting.

I'll move to adjourn the financing committee meeting.

May I get a second? I'll second. Moved and seconded. The financial authority meeting has been adjourned. We will now be reconvening the Commission on Community Investment and Infrastructure meeting at 1.58 PM to consider the remaining agenda items. Madam Secretary, please call the next item.

The next order of business is item six, public comment on non-agenda items. At this time, we'd like to invite members of the public who wish to provide public comment on non-agenda items to call 415-655-0001, enter access code 2661-429-2860, followed by the pound sign and then the pound sign again to enter the call. Then press star 3 to be placed in the queue. If you're already listening to us by phone, please press star 3 if you would like to provide a comment. And we'll begin by inviting members of the public in person. If you would like to provide a comment on non-agenda items, you may come up to the podium at this time. Seeing none in person, checking on WebEx. Madam Chair, it does not appear we have any members of the public wishing to comment on this item.

Fellow commissioners, do you have any comment, questions, or concerns?

This is the public comment portion only. So we'll move on to the next item?

Yes.

Sorry. Next order of business is item seven, report of the chair. Madam Chair?

I just want to again say Happy New Year to everyone. And often what we know is all we know, and it's not always all there is to know and understand about many of the things that are going on. And as a native of San Francisco, born, raised, lived, and worked here all of my life, and lived in District 5, District 10, District 11. I have had the privilege of witnessing many things that have gone on in our city, transitions, the decline, gentrification. And then along beside those hard things, I've had the opportunity to see and witness climbing up a mountain, going through valleys, uh... opportunities that have risen and have been serving some of our businesses every single thing that i have found as a commissioner since here has not been fully fulfilled but i've attended graduations which i invite the public to uh... attend for city billed i've attended graduations for our internship. And I've seen many of our citizens, many of our youth, many of our young people given that opportunity to be a part of CityBuild. And I've seen 25 of our young people from our communities get ongoing jobs that were lasting and position. Not in training, jobs that they got because of the training. And I have seen literally and sat with Many of our nonprofit workers where they say not everyone has been served and given the opportunity, but many, even in the hyperlocal over the holidays, many have gotten jobs. So we don't have that 100% that we're looking for, but we do have a percent, and I don't have that, exact percentage right now. But I'm sure we can come up with information from Hyperlocal and get their updated reports, as well as some of the other nonprofits that don't move with the Hyperlocal that are getting and given job opportunities and that have been working. I have also been working in the community where some people don't know and they're not aware many of us are part of visiting, walking along beside our nonprofit as well as for-profit business owners that are getting business. And there is one here as of this week and coming into the office, Bayview Collective. is now here in this building with their cafe. That was not acknowledged here today. But I acknowledge that and say what we know is all we know, but it's not always all there is to know. Not always all there is to know. To walk right by that and miss the big, huge sign in front of the elevator and just be fixed on the negative is not a good thing. But when we open our eyes and see and open our ears and listen, I sit in many of our meetings and I go to the churches in our community And we inform our pastors. We get feedback from the parishioners, the congregants. And they are seeing improvement. I go to the meetings with Rafiki. I sit on their board. And they serve the health and wellness of this city and our communities. And they're doing nothing but year after year, even during the pandemic, grow. I worked with Feeding 5000 for the Christmas holidays. We are aware, and there were hundreds. Every two hours, 200 volunteers came in from the city and from our communities and leaders here in this city to help feed 5,000. That was a huge project. It was not just the feeding, but many of our nonprofits that we support and many of the leaders poured money into the nonprofits for Christmas gifts for our children, medical attention for our children. Rafiki just opened a new clinic on 3rd that serves the community where the Department of Public Health is a part of the partnership in funding. There are many things that are happening that we may know some things, but we don't know everything. And I think it's unfair to make it sound as if no one cares, no one knows anything, and no one's doing anything. And that's not a true statement. So I just want to say to make the record clear that we commissioners are out there. And I'll let Mr. Shattuck, Commissioner Shattuck, and Miller speak for themselves, but they are attending number of meetings and being a part of raising our city up and getting us to a standard we're not there yet but we are certainly on our way I want to also thank the commission and staff for the Christmas party. And I want to thank Mr. James, who is here, who was one of the caterers. Here again, we reach out to our own Donde Gumbo Social, who is here in City Hall, was one of the caterers. We don't overlook our people. But it's not all of the good things are not said, just highlighting only the things that aren't done yet. There is much that's happening here in the city and many job opportunities that are being filled and fulfilled. There are some that has not done what they could do better. But we don't stop and we don't disregard those that are doing better and have done better. Besides the Christmas party and the graduation The meetings still go on with Hyperlocal. They have their concerns, and they also have the thank yous for the things that are happening. And so I just want that to also be a matter of record, and we'll go forward and we'll continue to try and meet every need. And at the proper and appropriate time, the reports will come out regarding concerns and matters. But they've not been overlooked. They've not been overlooked. And today wasn't the agenda for that. But it will come up, and we can address it at that time. Thank you, Dr. Kessler. And Madam Secretary?

The next order of business is Item 8, Report of the Executive Director, Director Keselowski.

Thank you, Madam Secretary, members of the Commission, and the financing authority, but just the Commission this time, members of the public. Thank you. I wanted to just remark that in December of last year, I gave you an overview of the highlights of some of OCII's work in the year 2025. And I want to briefly share today A COUPLE OF KEY PROJECTS AND MILESTONES THAT THE COMMISSION CAN LOOK FORWARD TO AS WE IMPLEMENT OUR DEVELOPMENT AGREEMENTS AND SERVE THE COMMUNITY THROUGH COMPLETING OUR ENFORCEABLE OBLIGATIONS IN MISSION BAY, TRANS BAY, HUNDREDS POINT SHIP YARD AND CANDLE STICK, OUR MAJOR APPROVED PROJECT AREAS. IN TRANS BAY, WE'RE FINALIZING THE CONSTRUCTION AND LEASE UP OF APPROXIMATELY 330 UNITS OF AFFORDABLE HOUSING WITH MERCY AND CCDC. THAT'S TRANS BAY BLOCK 2 AT THE CORNER OF FOLSOM AND MAINE. In Mission Bay, we're continuing the design and financing process of approximately 400 units of affordable housing with Curtis Development and Bayview Multipurpose Center in Mission Bay Block 4 East, and that's at the corner of 3rd and China Basin. In Mission Bay, we will continue the selling of 148 units of affordable homes with Curtis and Simmons development at Mission Bay Block 9A, which is at the address of 400 China Basin at the corner of Terry Francois Boulevard and Mission Rock Street. Also in Transbay, again, we'll continue the design process for approximately 300 units of housing, of affordable housing with Mercy and Young Community Developers. And that's Transbay Block 4 at the corner of Howard in Maine in the Transbay project area. And then the candlestick Bayview-Hunters Point project area, the candlestick portion of the Bayview-Hunters Point project area, will continue the processing of infrastructure permits for that first phase, or really the second phase. Alice Griffith was the first phase of the candlestick project with to restart construction hopefully by mid-point this year. We'll also have some upcoming workshops, as I just alluded to previously. We're going to have the workshop on the Certificate of Preference Marketing and Outreach Report with the Mayor's Office of Housing and Community Development, as well as OCII's Housing Production Report, both of them reporting on the prior fiscal year's activities. We'll have the annual workshop on the small business enterprise contracting and workforce hiring. That will also address the prior year's hiring and contracting activities. And then an upcoming workshop on the recognized obligations payment schedule for fiscal year 26-27, starting in July 26. And that goes through to June 2027. And that's the State Department of Finance required report on our planned expenditures for the upcoming fiscal year. And after that, you'll be reviewing and considering an annual agency budget and an annual community facilities budget, which authorizes expenditures at the local level. And these expenditures are all necessary for OCI to continue to do good work in the community to build vibrant and inclusive communities for all San Franciscans. Thank you for hearing that report.

Thank you. Madam Secretary, please call the next item.

The next order of business is Item 9, Commissioner's Questions and Matters. Madam Chair?

Fellow Commissioners, do we have any questions, concerns, matters you'd like to discuss or bring up? And thank you for your report.

That was great.

And I also, a huge part that I failed to say, I'll just give this as questions, concerns, and matters. Our CAC, the Mayor's Advisory Commission for Bayview-Hunters Point Shipyard, has given, they just had their second huge standing room only. Standing room only. It was job fair. And flooded. Flooded. with the hyperlocal and many other nonprofits throughout the city, but many of our people of color, our small business owners, the micro. And they were filling out left and right forms, sitting with people, and came out of there. And it was during, we don't see any of them here today, and there's a reason. When we called around Christmas, they were working. And that's what I'm saying. Not everything we know is all there is to know. But when the leaders of these organizations say their people are at work, something's happening. And I'm just thankful for the things that are happening. And I don't just want to leave it there. And we have Mr. James here who would definitely be at the mic to tell us if he was believing the sad statements, I'll just leave it that way, that were given that don't reflect what's really happening as a whole. But those job fairs are being well attended. And our CAC, Dr. Honeycutt and her committee, and she's have been adding to her committee. And the new members there, they're doing a fine job. They're doing a fine job. And there's just barely standing room. in those meetings now, well attended. So I'd invite anyone that has questions, concerns, to come to our meetings and find out for yourselves what the status is and what the news report is currently, not from a year ago, two years ago, but even then. There were things happening that were not reported, should have been reported in the appropriate way. But thank you, and I wish everyone a happy, prosperous new year. And thank you for all of the work, all of the meetings you've been attending. online as well as in person. Mr. James, thank you so much. I want to call you Smokey. The wonderful job you did in catering for the holidays. Thank you so much. Madam Secretary, will you call the next item?

The next order of business is item 10, closed session. There are no closed session items. The next order of business is item 11, adjournment. Madam Chair.

May I get a motion to adjourn? I'll second.

I'll second.

Thank you. It's been moved and second. Our meeting is adjourned. The time is over. 2.15. Did we meet your hour?

No.

15 minutes late.

Yeah, that's what Forbes says. Yeah, 14 minutes late. Okay.