Achieve and base on how big the center was. What we are assuming happens in order to get subsidy spots what i understand is when a family is received subsidy they qualify based on their income and they pay a very either sliding scale or pretty minimal am so im not sure what that minimum amount is, but i understand its very limited, very small amount, or a sliding scale based on what they can afford based on their means daks. And the subsidies are deferred by the First Five Program in San Francisco. Theyre the ones that control the amount of subsidy and what subsidy goes to which center. And, you know, in terms of what the market rate slots will be the market rate slots. The firms the child care providers provided to us are the Financial Analysis and we received thoiz questioned and we need to review those and it will be part of our Selection Process to review those and its not based on how many children theyre serveing, but actually the amount of child care improvement based cost, they
Commissioner mondejar. Id like to hear from mercy housing housing, do you have any comments . Good afternoon commissioners, im Barbara Walker with mercy housing. Id like to tell you were thrilled to be here before you on transbay. Our transbay block Six Development as elizabeth mentioned is well under construction, scheduled for completion next fall and as soon as that ones finished we hope to start on block seven so i would be happy to answer any questions you might have of mercy that might help you in your decision making. Thank you. Thank you. Thank you. I just had a small question, just one out of curiosity because i dont recall seeing one of our projects with a Daycare Center. Is this are there others with Daycare Centers that we have under construction . There are family Daycare Centers. Actually the mission bay project on Fourth Street has a family Daycare Center. Previously perhaps i think this is the first one thats come before you with a oh before this particular commission,
Well over a decade ago. We have before you a proposed amendment to our debt policy to really reflect the state of where things are today, so with that, id like to ask looks like john, our senior financial analyst, to walk you through the substance of the proposed amendment post issuance debt is expandsed to include cfd bonds, follow fcc guidance and to impend the citys disclosure policy appendixes as best practices model to be applied as appropriate. Current ocii practice is to have secondary market tables prepared by a fiscal consultant and weve adopted that formally in this policy. The swap derivative policy, which was amended to the 2004 policy was deleted. This revised policy has been reviewed and commented on by the San Francisco Controllers Office of Public Finance, by jones hall, our current bod counsel, and pfm, our current financial advisor. This concludes my presentation. Thank you. Thank you. Any speaker cards . No speaker cards. Very fascinating subject the public does not
Seems pretty straightforward. I just want to know what is the difference between previous policy and now . Do you know . Im sorry, could you repeat that . Yeah, i said what is the difference between the previous policy and this policy . What are the changes . Well, basically that was the list i recited, those are all changes. Some are minor, but fund emptily weve changed it to accommodate dissolution law, first of all. Previous policy did not mention cfd issuance so weve included that because cfd issuance is governed by our local goals an policies and thats what governed it in the past but weve tidied this up. In the past we have used a fiscal consultant to prepare the tables if used in our secondary market disclosure just as the fiscal consultant prepares a report for bonds offerings. This is considered best practice and gives us its more holds more credibility with investors and rating agencies to have a thirdparty prepare those crucial tables regarding the revenues that support the
Post issuance debt is expandsed to include cfd bonds, follow fcc guidance and to impend the citys disclosure policy appendixes as best practices model to be applied as appropriate. Current ocii practice is to have secondary market tables prepared by a fiscal consultant and weve adopted that formally in this policy. The swap derivative policy, which was amended to the 2004 policy was deleted. This revised policy has been reviewed and commented on by the San Francisco Controllers Office of Public Finance, by jones hall, our current bod counsel, and pfm, our current financial advisor. This concludes my presentation. Thank you. Thank you. Any speaker cards . No speaker cards. Very fascinating subject the public does not want to comment on. I mean that, sincerely. Do we have any comments or questions by commissioners . Seems pretty straightforward. I just want to know what is the difference between previous policy and now . Do you know . Im sorry, could you repeat that . Yeah, i said what i