What are the key risk items, and you may have said this, and just articulate again, the risk items of being able to do that . And in the probability and then in the second piece is, if you are not able to do that, and you go and you go to the full extent until you have to have the tax increment financing, what is that, what is that equate to in terms of what the budget can absorb and what additional funding would be needed . Sure, i will address your first question, first, about the risk. And so the risk of not being able to pay back is the risk to not be able to draw down on tifia and not areceived, 429 million in land sales which will mean that block 8 or five had not closed as a mentioned things happen and the land scale dates do get closed out from time it time nothing like four years and the bids on those parcels have already been received. And they are locked in to the extent that there is a disposition and a Development Agreement in place, with block 8,; is that correct . . All
Set the design, and effort and sit down with them with the designer and work and we would be able to design the awning. Yeah, and they bid, 18 percent and they bid 12 percent. Yeah. And bid, 14 and they bid 32 and so the dollars dont p make me. No they are just a plug value. What we and the upper limits of what we want on the awning cost. Now i understand. Any other questions . No member of the public. Motion for approval. Second. Second. And so, we will take the roll . Director lee. Yes. Nuru. Yes. Reiskin. Aye. Harper. Aye. That is four aye and item 12 is approved. Go ahead and tall your next item. Item 13 is approving an amendment to contract, number0804cmgc000, authorizing Webcor Obayashi joint venture to award a trade work subcontract to shimmick construction company, inc. , as the responsible bidder submitting the lowest responsive bid in the amount of 481,785 for tg15. 2 facade access equipment, thereby increasing authorized direct costs by 481,785, and the authorized Constructi
Is also the success or agency in matters represented to the affordable housing, with that on, they have to approve the amendment to the option agreement as well as the subornation of the option that they will be entering into. And those have, been introduced, and i have a schedule on the next slide, but we anticipate that the board will be approving those actions, and at their december 9th meeting. And then, a ocii over site board will have to also, approve the items, and immediately upon the ocii Oversight Board action will be submitting the ocii related items to the state department of finance to give their approval. And get into the schedule on the next slide. And we will be finalizing the bridge financing documents, the documents that you have before you, are in substantially final form but there may be minor changes here and there. And the Goldman Sachs will leave the process of the loan syndication and getting the others to participate and provide portions of the loan and we will
Have the tax increment financing, what is that, what is that equate to in terms of what the budget can absorb and what additional funding would be needed . Sure, i will address your first question, first, about the risk. And so the risk of not being able to pay back is the risk to not be able to draw down on tifia and not areceived, 429 million in land sales which will mean that block 8 or five had not closed as a mentioned things happen and the land scale dates do get closed out from time it time nothing like four years and the bids on those parcels have already been received. And they are locked in to the extent that there is a disposition and a Development Agreement in place, with block 8,; is that correct . . All of the properties 8, 9, and 5, and disposition and Development Agreement in various levels of process, and i believe that block 8 is schedule for coming before the ocii commission, relatively, and closed dates are set forth in those agreements with ocii, and so the risk th
Budget could absorb that. And so my first question is, what are the key risk items, and you may have said this, and just articulate again, the risk items of being able to do that . And in the probability and then in the second piece is, if you are not able to do that, and you go and you go to the full extent until you have to have the tax increment financing, what is that, what is that equate to in terms of what the budget can absorb and what additional funding would be needed . Sure, i will address your first question, first, about the risk. And so the risk of not being able to pay back is the risk to not be able to draw down on tifia and not areceived, 429 million in land sales which will mean that block 8 or five had not closed as a mentioned things happen and the land scale dates do get closed out from time it time nothing like four years and the bids on those parcels have already been received. And they are locked in to the extent that there is a disposition and a Development Agre