Transcripts For SFGTV Government Access Programming 20240714

We had four hours we headed over at ship shape, its a great read lots. Altogether we had the seven leaseholders, be a part of that. Its an informal set up we have table set up around the room, a welcome area where we can engage people, provide interpreters of necessary we had quite a few different areas that they could go to, or tables. One was all about encouraging homeownership and answering peoples questions. As you can imagine, it would be the first time buying a home and they have a lot of questions. We spent a lot of time talking individually with people who are interested in that. We also had information about what those might look like youd that is really exciting and people like to engage in that. We had information on future rental housing which is a little bit further away. As far as timing goes youd that helped people understand what the future rent might look like and what amenities be there in the building. That was a give and take and a chance to talk to everyone. One of the big push as we had in may was information about the cash Payment Option and you all agreed to offer the earlier, then was anticipated originally with additional housing rules and regulations. So far we have had ask people complete the process of signing an mou, and they are moving from the island we said that early in the cash Payment Option. And then we also had a table we were just encouraging people to sign up for the premarketing notices. Which is one of the rights they have and helping people understand why that is important. Part of that is making sure we have current Contact Information for every adult and family so we can go ahead and engage them when necessary. We will talk more about that in a minute. What we are focusing on this pathway to homeownership. Focusing on the 63 households falling in the income range. We have that information based on interviews with folks and followups with them. Right now we have individuals at Treasure Island advisors who are engaging them when i want and trying to understand more about what their interests are their needs. And the barriers they have pertaining to education. That is one third of our population are those folks that we really believe might have an opportunity to purchase a home. We are pretty excited about that. You all have seen this before, this is out of the Education Program that we are leading folks through. A lot of this information has been available to occupants on the island through flyers we have created an email blast that we have given them and letters we have sent. One of the first questions is, sure i am interested in purchasing a home but i dont even know what that means. One of the things we want everyone to understand is there is two products, we are going to meet housing and there are condominium that are available for purchase get some of those are for purchase at market rate. Some of them are available at below market rate. The very first ones we are offering are why din we have 14 of those areas thats really exciting, just like many of our community, how much is that going to cost . So we walk people through and we say, heres your target if your income falls between 70 and 130 percent we want you engage in this Education Program. What does that mean . What is your income . If you are at 80 percent of income and youre going to purchase a two bedroom this is a sample of cost estimating. The cost of that unit could be 230,000 dollars. Sometimes that gets people like oh, i didnt know that thats a whole different way. I might be able to do that. That is where we continue to engage people and we say thank you. Lets talk about what that means to you. And how you get there Education Programs. Here are some of the facts that we test out to people, because there is a lot of detail and we tried to make it so everybody can understand what those details are and what we are targeting is we are targeting the group between 70130 percent of income. People are just stating their income. We understand ultimately the homes we are having are going to be for people up to 120 percent of income. Peoples income varies so we dont want to miss out on people so we are broadening that. Some of the facts about it is there will be at least one person per bedroom. They absolutely go through a pathway to ownership. It takes a while to do that. We are trying to get people to engage with us and the process with us. We really need them to register for the premarketing notice this so we can say units are available, now is the time lets get going. Then they will have to make an offer to purchase the home. Then they will request nonpayment assistance from tida which is a great benefit they have available. We asked they will be able to purchase homes as early as 2021. One point i did want to make we do have more opportunities for purchasing homes in the future. These units are not the only unit we will have available. We will continue to direct home on Treasure Island in the future. We are really eager to fill these 14 with our people. The homeownership Engagement Campaign is really a brain farm of bob and marion. They really want us to make sure they are really focusing on the one third of the population that could potentially purchase homes are yet how do we do that . Right now we have 63 in that group that we know of. We are actively contacting them and engaging them and answering any questions they have and directing them to homeownership. We have 13 of those households that have already completed the six hour workshop that is required which is fantastic. That leaves our target audience for this campaign to be 50 households. What can we do to remove the barriers for them to get into education. What answers can we give them so they are inspired to say, i know this is hard, but this something we can do. Part of this Outreach Campaign that we are doing for the homeowners of engagement. We are going to continue with the outreach. Were going to continue to try to find out what barriers they have going to class, maybe it is the cost of going to a class. Maybe its the fact that its a sixhour class. Does that mean we can break it up into two different times per week. Maybe. There are those classes that are available. Is it a language barrier . Is it a childcare issue. That is something we need to explore to see how we can remedy that. In the fall we are going to have an open house that is typically directed to homeownership. The ones we have had in the past, everybody come, go to this table and we will give you more information. In the fall it is going to be civic to homeownership. We really want you to come, this is what we are talking about. We are really looking forward to that emarketing that to everyone and making sure we have a oneonone connection with them so they can come visit us area the y vi as a pre market event as a market contest and that will be happening late fall. Again the Treasure Island advisor, oneonone guidance for each household. Again, as i mentioned, we have 13 household have artie completed the six hour workshop. All of the information, this is not new information to them because we continue to provide information to the households on this. We are really trying to engage as many as we can. 13 have already completed it, and we have 50 more. The pathway that is interesting, might be helpful if anyone asked you this area there is a sixhour class they need to take, and walks them through what it means to be a homeowner in the project area then they get a two hour oneonone counseling. Then they can really sit down with a counselor that would not bs, thats a specialist thats it down and says this is what you need to do to become a homeowner in this campaign which is fantastic at the end of that they receive a certificate that says you have finished this. And then the next step is getting everything in order, and then eventually purchase a home and hopefully y vi. This is just a sample of the five organizations in the city that offer these firsttime homebuyer passes. As you can see in this, there is a lot of classes offered on saturday during the summer. They are six hours, theres a variety of languages. Some of them offer them, there is classes offered every month. New classes offered every month, this is just a sampling of whats available in july and august. Like i mentioned there are some classes broken up into 2three hour segment. We will continue to give them information on that. The premarketing notice list signup is again, the right they have to be notified when housing is available on Treasure Island. To date we have 108 leaseholders that have signed up for that. We are going to continue the campaign to get information out to people and encourage them to sign up with us. Here is the general calendar about where we are at. We are really strong on the homebuyer Education Campaign right now. Around october to december, later this year we are going to be sending out the premarketing notice list for market rate condos not the below market rate. It will be another year before we send out for the below market rate condos. We will continue to keep people involved and understand the process area and then the condominium will be ready for occupancy around mid 2021. As bob mentioned earlier, our goal is 100 percent leaseholder engagement by the end of the year. We really want to target that one third of the population that could purchase homes and get them involved in the Education Program. We want to fill those 14 units with our people. Summer and fall we are going to continue with our Community Engagement helping households understand the available options and a lot of that is just one on one with folks for one of our outreach effort and continuing to work with those who are interested in the cash Payment Option. We have six that have taken that option so far. This is the information for folks to reach us. We get calls every day in emails and we respond to folks within 24 hours we really try and engage them and answering questions that they have. That is our presentation for today. If you have any questions im happy to take those areas directors i will open it up to you. Thank you very much, that is a great presentation. I have a couple of questions. First of all, we would need a hard copy, and a digital copy of your presentation for this particular information. It is extremely essential. And to make sure you give that information to us. We share this information with a lot of constituents. Question number one, if for those individuals that are in the targeted group, how are we treating them. What is in it for them. What do we tell them . That is part of the education on open houses to date. Part of that is we have condominium available for purchase on the island at market rate, which is fantastic. We guide them through that. One of the basic right is that there will be Housing Available for rent on the island, and that their rent can be, the base of the rent they are in now is adjusted every year and one of the best benefits have is they can continue on the island in a new apartment and continue to pay the base of the rent. At the end of the day, to know where everybody is. [inaudible] again, pacific question or something, so when that arises we can just say this is where we are. You have this household, six that decline the interview. Have you developed a profile case on them . What we have, there is six percent, there is 10 altogether who have not responded to us area we do have a file for each household area documenting every house we outreach. When they do call we have information and we are able to respond to them. We can make that Information Available to you all. We are hoping that we wont need to because we are hoping we can engage those remaining 10 households pretty quickly. That is very important. Make it available to us, and the supervisor for that district. When we go back to the island that is when we truly hear from people that they have never heard, in two years to get it can power this commission to know what you are doing, if youre going the extra mile and if you are hitting everything, that is what we really want to know so that way we can engage them to protect you im sure the supervisor may want to have it, so when he does his town hall meeting he has all of that information. He can look at the list and say, you know, we reach out to you or something, it is very important to know. Thank you. Do you mind putting back the slide with the breakdown of the unit types that are available . Thank you. Just curious, out of these unit, this video, onebedroom, twobedroom and threebedroom what the ami levels are . Are you saying that any of these unit types you would be able to accept applicant from the one 20 percent ami level tranv so, the average ami, for the collection of bmr units would be 100 percent of ami. There is a process we go through with moh to set the price right for each individual unit. Some may be price at 80, summer 90. Some at 105, some at 120. Friends ands, one priced at 85, anyone from 80 up to 95 would be able to potentially qualify for that unit. There will be a variety of price points. The average will be 100 percent of ami. The price points for each individual unit have not been set yet thats interesting. For development in general, usually the ami level is set at the entitlement phase i assumed it was artie done. It sounds like it is yet to be determined. We will be look working with moh have to finalize. My followup question will be much more applicable. I was curious if we have any kind of Data Available of the 50 target on bmr qualifying leaseholders, whether or not we have fair ami red or income levels. The majority of our current residents who nullify for these unit are at 80 percent, we would probably want to consider driving more at the 80 percent versus the 120. That would just be helpful information i think the board to see, maybe in the coming month. We do have that, because those households identified on the incomes that they reported to ar ws. For each divisional household we know where theyre at. Generally speaking, they tend to be clustered around 100 percent with, you know, a normal distribution as you would expect. We do have people spread throughout the range. Just a comment to director richardson question earlier about the 70 up to 130 versus the 80 up to 120. The incomes that have been read it are selfreported. They want to reach out to a broader range so when we go through the actual income certification process, people may find that they actually earned a little bit less, or little bit more than they were visualizing in interview. People may be looking at decisions. If i met 70 percent and i, you know, pick up a second job i could get up to 80 percent. Some places where they might be able to make some adjustments that would allow them to qualify, if they understood what it would take. I would assume the island resident there ami spread is below the hundred percent. Obviously ami is 80 and income for the entire area. Within the range of those that fall between 80when 20 percent. The overall average, depending on what we are looking at twobedroom, threebedroom or fourbedroom. The average of those people that are within that 70130 range, it was a distribution across the range. In a competitive scenario we have one unit that is available that is video, and its available at the 80 percent ami. We have more than one applicant that qualifies. What happens then . Will go into the citywide pool of people that are qualified for Affordable Housing. When this first building comes up to marketing, the Mayors Office of housing will conduct a lottery as they do for all Affordable Housing opportunities. All of the Treasure Island resident that are in that pool will move to the top of the list. They will be in the order drawn to the lottery. Thank you. And then just out of curiosity, why are the premarketing notices for the bmr unit coming out to your later than the market rate. Im sure you have a good reason . [laughter] i will take that one again. Just because the premarketing for the market rate, the Treasure Island Community Development wants to start a premarketing wants to start early so they can do presales for the market rate, partially they have a much larger number of units to absorb. That is why the premarketing for the market rate will start earlier. Through the transitional housing rules and regulations, our resident have a premarketing window before tis ed can do any presales to the public. Whereas, for the affordable, our people will be at the top of the lottery. That can wait closer to occupancy. Thank you. Lets see, mr. Giutsi, do you have a question . The question is more around the price of the units will be. I understand they have not been set yet. Considering the price of real estate in San Francisco now, is it possible that the belowmarket rate is giving off some of the folks out that might be at 100 percent. I guess i just dont understand how the belowmarket rate price is going to be set . Bob is really much better at this area but we are trying to explain to people is the market rate units are market rate and that will be set by the market in San Francisco. The below market rate units, this is hard to get your head around, it is based on income. If we say a unit is available at 80 percent, for a household that has 80 percent area Median Income. Your that person, it backtracks and says what can you afford to pay for the dwelling . You take your monthly, which you can afford to pay, but then you multiply that out to decide what is the price of the home . What kind of loan can you afford if you are at 80 percent ami. It is accurate, especially if you have done real estate all of your life. This is different. It takes a minute to get your head around it. That is one of the reasons we are engaging with people is to help them understand. It is confusing. Actually, that makes a lot of sense. Even if you said the unit were, you know, if it 1,500,000 public unit and we will give it to you for half, it will 750,000 dollars to get thats one of the reason, we brought to the board in the past some great pamphlet that we have handed out. A lot of the things that you see on our Powerpoint Presentation we put into pamphlet, booklet form for flyer form so we can walk people through. We get it is confusing, we want to answer as many questions as we can. Just out of curiosity when you say there is about 10 eligible folks that have not responded at all, does not mean they told you, at some point, we are not interested, do not call us anymore . Or you just havent been able to get a hold of them. We are really trying it is here he is, right . A lot of people travel for work, or they are in school, could be a language issue. We reached out to the property manager on site to say, who are we missing . We are continuing to knock on doors with the flyers. We are just to keep trying, we are diligent. Last question, folks are preregistering, or can preregister for the premarketing list is that correct . Why would they preregister . Why wouldnt we if you are eligible when we just put you on that list . Because i dont have your email. So, easy to lose track area we looked at those groups too, we say, i need your email address i need the email address of every adult in your house that is interested in signing up for this area this is your right and we want to make sure that you get it. That is part of what we are doing. Thank you. Let me just some general comments. This is actually an Incredible Opportunity for low income families to purchase housing which will be millions of dollars to the market. It is being done because part of our housing requirement, and to develop which is providing the price at which these lower income families will be purchased is going to be less than the cost of action. It is an Incredible Opportunity. Its not for everybody. Homeownership comes with responsibilities of up, taxes, insurance. Im glad youre having these ownership education session so people can really figure out whether this is the right thing for them. Certainly we also have rental housing that is targeted to lower income families. Its coming online at Treasure Island. I think we have a Balance Program which is homeownership both that this gives a wide range of opportunity for those who are now living in Treasure Island. I really hope that the resident are going to take advantage of that wide range of opportunity. I do have one question, that is that the purchase of belowmarket rate unit, there are restrictions so that those units cannot be sold on the open market. We want to make sure that it not just for this current generation of lower income families but that they will remain in the supply for future generations. We need Affordable Housing. Can you detail a little bit about what those restrictions are upon sale. I can. In general, if i purchase a home, a condominium that is based on my income and i met 80 percent of income. When i sell that home, 10 years from now, the price i can market it adds, is to other people that are 80 percent ami. On the surface you might think thats not going to get me anywhere . 10 years from now, 80 percent of area Median Income will be different than 80 percent today. So, these classes, there are five organizations that partner with and they present this information in workshop. What we are giving you here are these mandatory six hour workshop that we were hard to take. Those x hours talk about what does it mean to get your credit ready. What does it mean to get a loan. What is a down payment. What are monthly payments. What is danceable and interest in taxes and insurance. What does that mean when i want to sell the property. Do i get to buy it in the next year and flip it and sell it for market rate . No area you need to know that before you go through the process. We completely understand that we are targeting one third of our population. We also understand that maybe not all of those people want to buy home. That is what we are trying to find out. I think if theyve never bought a home, sometimes people just dont know the questions to ask. What we are trying to do is take one of the six hour classes. The great thing is that these are the mandatory classes for the certificate. All of these organizations offer these great two hour classes on intro to homeownership, credit count link. What is it mean to be a homeowner . So without doing a six hour commitment can go to one of these for free and say, that is interesting. Maybe i want to pursue this. Maybe i have more distance for my advisor. Thank you so much for this. Certainly there is a lot of effort and support that is being offered to the residents of Treasure Island to give them options. I hope all of the residents would take advantage of this area thank you. I just have one question. Based on the statement, i would suggest that your generate all of these brochures that your faq, you need to have an faq. Just what you just stated, those questions should be part of this package that we are also giving to the homeowners, to the potential candidates for instance, the restrictions, they are going to all of these workshops. But for us, we have a package that we have to present i would love to see that foz to faq so that pacific question is written there. And how we are treating that. The other question that would be great to have in the faq, say youre going to all of this process and you have this household they meet the criteria, but there still at the end of the day have to go through the criteria. Which is not louder is a process area hypothetically, at the end of the day, out of those 10, maybe theres two of the candidate who do not meet the other external criteria. We also have to have an faq now. Everybody can have ownership, where those candidates read we also need to be able so its upfront and very trans parent trade with your telling them now. Are we selling them the rental, again someone should be able to walk through to explain how this tension candidate have done, and opportunity we have sold them, it is to be very essential and you know part of the city family that we have gone through every to try to ask him to them that they can capture that area so you could really do that, that would be great. I think we have some that are already there. Put them in this powerpoint that youre going to give us we also need the hard copy in the digital copy. Thank you. Any Public Comments on this item . Asked item, please area item number eight, parks planning update. Thank you, directors youd we talked about parks last month, but i just wanted, knowing that we would have an update on a Board Meeting in august and i want to give you a quick update on the work that weve done over the last month and where we hope to be in september and where we hope to be by the end of the year . There are two areas that we want to make progress on between now and the end of the year. The first is the parks code for Treasure Island, as we discussed. And also the development of budget projections. On the code we talked last month that there is San Franciscos parks code which applies to all of the part underneath the jurisdiction of recreation and parks department. And that certain other agencies have articles underneath the parks code which allows for an instant director of public works to function as the role of general manager, as a relates to the united nations, which is a public rightofway under the jurisdiction of public works or for the trans Bay Authority board, and executive director of the joint Powers Authority to serve as the Parks Commission in the general manager as a relates to the trans the rooftop part. The other model that is out there was that the court has adopted its own ports code which addresses parks that are important property. It draws heavily from the same subject areas as parks code. It is somewhat more limited and scope and pacific to the properties of the port of sentences. After reviewing those two models over the last month and discussion with the city attorneys office. We are leaning towards the development of Treasure Island code as the port has done, which is tailored to the pacific open Space Program and issues of Treasure Island. We plan to bring further up the to the september citizens Advisory Board and title Board Meetings with an outline of the proposed code section as well as identifying matters that may fall underneath the authority of another agent the or other codes youd also know, regulation that might need to be adopted by the title board to implement the code. We will bring that discussion back in september with more detail. On the operations and maintenance standards. Titus staff have begun working with the tran16 to develop standards for the island. Infrastructure from turf, trees, shrubs, perennials, planted beds, irrigation, restroom facilities, litter removal, graffiti, as well as fix hardscape side furnishing and special features including playground equipment, ardent relation among other items youd based on use and impact of the area. Also trying to take into consideration some of the unique aspects of the island environment. Particularly the wind and the salt air. By january of 2020, we hope to develop a maintenance manual. Identifying standards of care for all parks and open base. A full buildout operations and maintenance budget projection on the recommended centers of care, as well as a site pacific operation and maintenance guidelines for our first part which will be hilltop park. As that park is expected to come online in 2021, and a projection of what the maintenance needs for that part would be forfeit the year 2021. Incremental stores that january goal coming back to the title board in september with an outline and cable of contents for the manual, as well as our first pass at this infrastructure, the main Program Requirement that we will need to carry out or maintenance program. That kind of a brief update on the work we have done in the last month and where we are headed over the next ask. I will open it up to the board. Thank you, mr. Beck area this is a very important aspect. The frontline here, the management of these parks, open space, we have talked about that. The suggestion would be even before we go is for us to see the draft of that code, engaging our own and discussion first and those kind of discussion you also highlight the suggestion for the management, based on this assessment that we saw when we went outside of San Francisco. We would like to see that. Lets get the draft of everything, and for discussion, in september. Before he can go out there, we might need another month or whatever, discussion going back and forth. At that point, we would be able to share that information with folks. That we want to solicit their ideas. That is what i would suggest you any other comments or questions . Mr. Beck, i have a question. Who is taking the lead for doing the operations and maintenance budgeting for the open base . Right now we are working with Martin Wiggins and with support from the mg and mgm managed on of the cost figures i just want to make sure if we need to have addict consultants and helping us together operation budget that we look to do that. Certainly the has its own interest on its interested in how the parks will be planned and operated. In the end it is the tida board who will have the ultimate responsibility of operations and management. I want to make sure we have our own process and we look forward to receiving that information. Definitely. Weve been getting advice on design. We have access to them for review on operations figures, as well as we have our oncall consultant contracts that we can pull in for some peer review of this process, as we continue to develop. Some of the operation and maintenance costs are really envelopes into design and what you can choose in terms of material. I am wanting to make sure that we have that advice early on, rather than at a later stage in time. Thank you. Any Public Comment . Next item, please . Item number nine, Community Facilities district annexation. We have woken some recently about an update on the cfd and the r fd formations, and the Community Facilities district when it was originally formed in 2017, we had our initial project area which included just the parcels on yerba buena island. Beginning the planning review process of the first process. We need to look forward to annexation of those parcels into the Community District as well. I just wanted to talk about, on the timing. I will start with a review of the cfd formation and its purpose and the cfd special taxes and then talk a little bit about the annexation process and the first proposed annexation area that we expect will be coming in from t icd before we meet in september. That resolution formation established improvement area number one, as i mentioned. It included all of Treasure Island and yarbrough buena island. It provides for, streamlined annexation of areas within that future and ration area into the cfd as a properties that are transferred and move towards developing. It also allows the special taxes assessed to reflect developer product type into new improvement areas youd areas area this was the map that includes all of the public lands on the northern half of yerba buena gardens and Treasure Island including the Job Corps Center site. It identified those parcels as improvement area number one. The cfd levels to supplemental special taxes on properties, the facilities specials tax and the Services Special tax, they are based on Square Footage and land use. Square footage of the individual or property or condominium home. And the land use whether it is commercial retail, hotel, or residential. Within residential it has differing rates for townhomes, low, midor highrise condominiums. All of these were described for improvement area one. And then, again, to refresh what the special tax is here. When we talk about the infrastructure revitalization and financing district. We are talking about tax increment that is part of the base property tax collected by the city. When we are talking about the cfd assessment, that is an additional assessment that is above and beyond the normal one percent property tax. Just visually illustrating that. The facilities special tax is meant to reimburse the developer for eligible infrastructure costs for the first 42 years in each improvement area. Each improvement area will have its own clock. The developer will have access to the first years of accra meant, for reimbursement of eligible costs. But after that, it is available to the authority to pay for eligible capital expenses. It is intended to Fund Capital Reserve for the island. Again, primarily for Sea Level Rise adaptations. The target is to establish a reserve of up to a quarter of a billion dollars. Adjusted for inflation. The facilities special tax will be our ongoing source of maintenance for the parks maintenance and operations of the open spaces. Just as a reminder, it can be used for the services, used for services, but cannot be used for financing of Affordable Housing. The tax will transfer from transition from a Maintenance Facility special tax. When that reserve requirement is met, if we never meet the full capital reserve requirement it would transition after a. Of 100 years to a Service Special tax. At which point it would be limited to the operations and maintenance maintaining cost of any of the authority owned structures or facilities on the two islands. That Services Special tax will then continue. Theres two options here, the first is annexation of properties into an existing improvement area. The developer can execute a unanimous approval based on the ownership with the specific parcels that are proposed for annexation. They can submit a unanimous approval and levy of special tax and bonds. If they are annexing into an existing improvement area there is no action required by title board or the board of supervisors. Its an administrative function. For the annexation of a new improvement area, the developer would need to submit that unanimous approval again. But with a new rma specific to this new improvement area. If that new rma and proposed improvement area is consistent with the financing plan, and establishes special taxes that are close within 20 percent of those in the initial improvement area. It does not include a new type of special tax and contains the same terms, area one rma for collection of special taxes and prepayment terms. As long as it is consistent in those aspects. It could again be an administrative approval. If for some reason there is a new term that is introduced then it would come to the title board and board of supervisors for approval. The current status of the cfd, and anticipated upcoming activities. All of the parcels in improvement area number one are on the assessors tax roll. That lays the groundwork for our initial issuance in 2020. We will be working with the office of Public Finance under the controllers office, planning for that dead issuance and that each bond issuance comes back to the title board and board of supervisors for approval. We expect to be doing that in 2020. Meanwhile, the street improvement permit has been issued for sub phase 2. And substantial progress has been reported and has been made on the geotechnical improvement of that site. And the developer is now out to bid for the roadway and utility improvements within that site. As well as their initial vertical projects are in review with the Planning Department and they anticipate submitting for Building Permits following planning approval. Creation of an improvement area and number two. We will be reviewing that with office of Public Finance staff to assure compliance with those requirements that i set out on the prior slide that were established in the residential formation. The goal there would be to complete the annexation prior to the issuance of Building Permit so that again, the assessments on those properties can begin. The first annexation area doesnt cover all of the first sub phase area on Treasure Island but three specific parcel areas as i mentioned, these projects are beginning the planning review. These are slated to be rental developments with inclusionary affordable rent units. One thing that we do anticipate is a special tax rate for rental properties as part of this area rma. Which was not included in the first area which was anticipated to be exclusive for sale condominium. Again, we expect that will be coming in in the next couple months we will have an update for you at the september board. Thank you so much. Are there any questions by the board . Thank you, mr. Beck. You mentioned about the special tax rate for rentals, which it would be great to really see how that is going to be. It was not in the proud discussion, so i presume you would be giving that to us pretty soon, right . That is a very interesting one. The special tax rates for the individual properties were established relative to the anticipated value of the unit. With the expectation that rental properties would have a lower than a condominium. There is a proposal to have a lower per square foot assessment. So now we have two parallel type of tasks that are before us. 2021 is when the first housing will be online. We really need to make some progress we know it is going to take some time to pull everything in. Were going to be doing at the onset to convey the methodology that the parts that management are going to be treated. It is very important. Working to do that quickly. Thank you for that comment. Any other Public Comments . Next item, please. Discussion of future agenda items by directors. Would the directors like to add anything on the future agenda items . I have one thing, mr. Beck, we would like to see what the progress is on the housing that will be built on Treasure Island . We have not heard or seen what that looks like. In terms of the height, the scale and the design. At some point, i hope you would schedule that for the board. I will work with tic and bring an update, as well. Thank you very much. Hearing no others. Next item. Thank you very much