Victor mary confesses might be able to talk about that. Well, we actually discovered when we approached the agency over 5 years ago to try to see if we could have a part of the loan forgiven at that time, navigate we scheduled the item to come before the commission over 5 years ago but we decided that that was better to just let the time run because it was going to be an impossibility it was not dlofrdz until i reviewed the loan document and brought it to the council more and more wills this was a mistake that had been made in 1994 unfortunately yeah. Do you have any questions i want to raise before the impanel supervisor bustos thats not here. I have questions so when we make this loan there are interests payment that have to be made were those payments made and the Interest Payments under the loan are only made in it was in default and custodial due otherwise no interest payment. No Interest Payments so thank you sure. Supervisor bustos is not here obviously he had a a lot they could
Legal be combonlt stopped it from the full term caught between a rock and hard place the Mayors Office has identified this as one of four important projects in the Mission District and were working with the, in fact, weve got a meeting with the mayor on thursday to look at feinsteins opportunity to get the project underway. Okay. Thank you do the commissioners have any questions. This loan is going on for a long time is it a loan or grant . Its structured as a loan but it is structured so it can be forgotten at the end of the term if all conditions met in if not due what are the conditions. The Loan Agreement basically says all conditions have to be met and as was alluded to provided permanent jobs and done a lot of wonderful things for the community the bigticket items we couldnt finds inclines for meeting the converting the space or renting out the space for commercial purposes thats the intent of the loan as youve heard they were not able to do that to rent to the tenants. Okay. Tha
And was very generosity impressed but worried and concern ill put this on record this is perhaps not an answer to freud would that asset essentially when its sold it is sold in the open market at market no conditions no Market Conditions to make it an affordable unit of its from the Mayors Office and your correct someone else can probably do a better answer but from my prospective and the translation before you the braid has my understanding theyve voted to authorize the sale but this is as far as it goes so n nc court so unless theirs negotiation once the loan transfers to occ but this is the last thing nc c board authorizes the sale. Would you like to Say Something because victor was concerned he was a member of the n nc board and now on the agency hes a little bit couldnt be here. The n m mc as you may know is really in the provision of Caregiver Services for youth and families theyre not in the residential or housing business theyre not in the business of running residential units
Transcripts. Lets take roll call please. I will note for the record that director lee will not be present. With that director nuru. Present. Director reiskin. Here. Director sartipi might be late too. Director kim. Here. You have a quorum. Is there any old business today. Seeing none. We can move to the directors report. Happy holidays. I received some good news. We got a review of the train box grant of what they do annually on how were doing with the report and its a good report. I can share it with the board if they would like to see it. There are a number of best practices they will recommend and the recent survey we commissioned to have a better survey in the construction market, the mitigation measures in place including accelerating the payment cycle and having the [inaudible] in place and having us do outreach to smaller contractors. In addition we were commended for our jobs net and employed over 8,000 people in 19 states across the u. S. And i really love that map so i am gla
I think both of us really believe the Death Penalty is wrong, and is flawed for many reasons. The list is as long as my arm about several others. We feel this is important for both of us, personally, to participate in the debate of this issue in a way that we can help people frame it for a conversation. Good morning and welcome to the Transbay Joint Powers Authority board of directors meeting for thursday december 11. I would like to acknowledge the staff at sfgovtv that made it through the rain and everyone else in attendance and John Stockhouse and Jessie Larsen that make the meetings available on line and the transcripts. Lets take roll call please. I will note for the record that director lee will not be present. With that director nuru. Present. Director reiskin. Here. Director sartipi might be late too. Director kim. Here. You have a quorum. Is there any old business today. Seeing none. We can move to the directors report. Happy holidays. I received some good news. We got a revie