Annual rent would be established by a formula in the term sheet and based on industrial up land land. We are projecting that value is between 50 a square foot and 75 a square foot. And that would generate 583,000 rent to the port and on the high end 872,000 to the port which would be indexed there after. One of the major Public Benefits we sought in this negotiation with at t is port option to buy the ho down yard and near the pier 70 site. Its adjacent to the pier 70 site. Using this appraisal depending whether its on the low or high end our option to buy it would be 6. 5 million on the low end and 8. Nine on the high end. There is a comparison to the term sheet and negotiation agreement that we often super for agreements like this and under that agreement at t would reimburse the city for port staff and City Attorney costs. This is the ho down yard. Its the two parcels on the top left of the screen is separated by michigan street and on port property. On the left side of the parcels
Of transmission lines that come up from the peninsula through the po tearo power plant and connect to the embarcadero substation that provide power to downtown. At t has proposed a new 230kv transmission line to provide redundant transmission line to the embarcadero sub station. At t and port staff have collectively communicated with the mayors office, the San Francisco Public Utilities commission and the city administrator about the project. The city administrator was charged by then city administrator ed lee to look at these types of risks to the city in the event of a major seismic event and how we protect against them and weighed in favor of the project. At t is looking at a number of proposed route s. One proposed route if approved by the california Public Utilities commission would involve submerged port property. This is a map showing the potential routes between portero substation and embarcadero substation. You see the submerged route in blue and enter the bay north of pier 30
This will be a very quick item. This is our Quarterly Report to show how we are doing with our operation with our nearly one 1 billion budget and we like to show where we are saving in cost to help to keep rates as low as we can. This report does that. There are a couple of brief slides in your packet. The news to report is that retail water and revenue are better than budget from sales, however due to some timing difference because of our wholesale customers prepaid us a large sum of money last fiscal year, you will see that is reflected here at the timing difference. The reserves are all very healthy and thank you to everybody and their hard work on that. You will see the Water Department has nearly 278 million in projected reserves and Water Department and heche and 46 million. The scorecard the fund balance adopted by the commission showed that we are meeting or competing all of the reserved ratio as well as the debt coverage and we are in very good financial condition. Any questio
Public comments. I have no cards. Good afternoon doctor. Its a great day. Im here to make a request. I thought it was your birthday. Im 80 now. Dont make me older. My request is a hearing that was moved on sometime ago about the southeast facility and sewage plant. I would like for you, please, its been at least three or four 4 months that was passed on to uphold a hearing with your staff about this and that has not came forth. I want to say this to the listening audience because they see me in the store and on the street and shake my hand for the work that i do. I never ask anyone for anything but im going to ask you that are here to pray for me. I will be praying for you. To pray for the elderly, pray for the children and please pray for the city and county of San Francisco because we need prayer. What is happening to our seniors and happening to the People Living in public housing. The gumption that people have of, what you call, cut and paste putting programs together as though its
Is here and francesca vetore is here. Approving of minutes of october 22nd shgs 2013. Moved and seconded. Any comments from approval of the minutes . Hearing none, Public Comment is closed. All in favor say, aye. Aye. The motion carries. Next item . Public comments. I have no cards. Good afternoon doctor. Its a great day. Im here to make a request. I thought it was your birthday. Im 80 now. Dont make me older. My request is a hearing that was moved on sometime ago about the southeast facility and sewage plant. I would like for you, please, its been at least three or four 4 months that was passed on to uphold a hearing with your staff about this and that has not came forth. I want to say this to the listening audience because they see me in the store and on the street and shake my hand for the work that i do. I never ask anyone for anything but im going to ask you that are here to pray for me. I will be praying for you. To pray for the elderly, pray for the children and please pray for