Bisexual, and transgenders group and to make sure we read the entire resolution so all the ports Recreation Center recognize and all our employees see how important this issue say we embrace all our employees in the diversity of our workforce so where the cappa is comprised of the seaports and dedicated to maintaining the vigorous work in colonel and the Port Authority has been promoting the interest of the ports and leading the way of the cuttingedge of the operation whereas the california port authorities having is directed by the seaports to service the Citizens Advisory Committee and are committed to diversity in their respective administration and whereas california ports include all people regardless of race and National Origin and sex and gender expression and gender, identity, or sex call orientation its for the opportunity of men and women and the folks to advance the community whereas the lesbian, gay, bisexual, and transgenders contribute to the port system for elected offic
Same Redevelopment Agency and the redevelopment Financing Authority and with the automatic succession of these bonds, the ocii commission would be able to reconstitute the refinancing of this authority. The reason why the Financing Authority is a party to this contract because under the terms of various state guidelines it cannot do a negotiated sale but a Financing Authority can. If you want more explanation for the reason behind that, i can leave that to the attorneys. It has been the recommendation of the financial visors on this deal that a negotiated sale is necessary in order to get the best terms for these bonds because of a special status of the success or agencies and the fact that this is the first in fact new money bond deal under the terms of redevelopment dissolution. It requires a lot of education of potential investors as to why they should be competent with Interest Rates as coming into this as a new entity. We have been advised that a negotiated sale is the way to go a
That deduct ive alternative so before i leave the slide ill bring you back to the upper left. That ve proposal scope was to give you an if you are on the cable stray bridge you got the pylon in the middle you have got the various cables that go into the main pylon. For design it basically attaches the cables on either side attach right into the pylon itself what shimmick proposed was to put a saddle system that would go through we went through the seismic safety analysis of that and the engineer of record went through this and we were able to accept that one so that was the 500 thousand and the deductive alternative the accent lighting for 450 thousand so now this is how we get to the proposed award number. We accepted the deduct alternative of the accent lighting thats how you get to the award number. As part of our analysis we looked at why the number was above the estimate and initial engineers estimates the cable stray is a unique structure its a pylon structure requires specialize
Embrace it we want to make it happen. They were out but youve got to be all in and putting the brainpower together so testified what is impressive in the Transportation Center in china we jumped on the Transportation Center their subway system it was in chinese and mandrin but its amazing how people move in the city their ahead effort transportation i was impressed with their fast trains and stuff like that theyve got the bullet train from shanghai to b. A. Shrink and im hoping we get that commissioner adams. I really have nothing to report no honors to report. Im sure that will be recommended. I want to commend commissioner president katz for the lgbt port Diversity Group thats a huge effort and i need to be connected its much needed. I want to commend commissioner adams for travel to china he has a lot of great contacts he helped peter and the staff to a looking for great opportunity nor the port of San Francisco. Im truly supportive of this maritime efforts to try to get more busine
Residents to be able to purchase their units how does it work. So im sorry. Could you restate. I i guess whats the how do the unit convert from rental to for sale. Thank you, madam chair. This is a for Sale Development and the developer has the right and i cant recall the exact agreeing integral but the d b. A. Must happen within 12 months but it will expire prior to the execution the developer has to decide the unit are for sale or rental and it will be locked in or well have to amend the d b. A. I apologize maybe i misread that but if it was going to be rental there would be an option to buy. Right if they convert after the hearing we can have a discussion that will be more appropriate for the market if everything is for sale for example, well invite the commission and theyll market them as rental unit and not for sale at this point bus it is a rental project it will be an amendment to the d b. A. If they want to sell certain units. Got it. And then good job on the s b e i think we w