Good morning, sarah jelati, i can answer any questions that you have on the staff report and our broker tony from dtz is here if you have any specific questions that i cant answer. First i appreciate the shrinking of the footprint, i know thats not always easy to do, i appreciate you keeping the cost down by doing so. My question is how you arrived at five years as a desired extension. Ill probably have tony come up and speak to what typical terms are. We were asking for three years and our understanding [inaudible]. Five years from now, three years from now, i dont know if that will be the case because theres a lot of space coming online, so it may not be as easy as we think, all we can do is hope it sounds like, if the landlords insistent, then we have to do five years. And why wasnt did we who did you do the original brokerage or was it then cassidy and turly, they did the original one. Correct. So, did we have the opportunity to lease longer initially than we did . The project was
Between 19. 455 and 28 Million Dollars, [inaudible] in this amount of 19. 55 Million Dollars, pacific erectors bid was [inaudible] but 5. 4 Million Dollars above our budget of 14 Million Dollars, and were commending to award it to pacific erectors for the point of [inaudible] and fund the balance from the reserves. This isnt the skin, right . No. This is other panels. These are panels and closures around the staircases, the elevators and escalator areas, i tried to put some photos in there. Okay. Motion . Second . Ill second. Without objection. Okay, it pass passes unanimous. No matters of the public wishing to address you, now it passes unanimously. Er moving on to item 10, approving an amendment to contract number 0804cmgc000, authorizing Webcor Obayashi joint venture to execute a trade work subcontract with olson and company steel, the sole responsive bidder for noshed amount 10 million 323 thousand 242 miscellaneous metals thereby increasing authorized direct toss by 10 million 323
Residential model would produce an anchor grocery store. There was a question raised about a master plan, you only have authority over the Transit Center, there are 6, 7 other buildings going up, tens of thousands of people and at least i dont think there is any general plan of what services that have to be provided that are absolutely required if the project is going to succeed and realizing the circumstance without cars. I dont know whats going to happen when you get these proposals in june, but it seems to me that theres a lot of thinking that still should be done about how the retail works out, even though it would be lovely to get retail in here and have them paying money so that the deficits that have been accumulating over the last few months can be resolved. On the sponsorship question, supervisor or famous people, theyre not named after corporations. I think to name it the google Transit Center or the twitter terminal would be bad in many, many, many respects. I think the term
One office at one point, so in 2008, we negotiated through 2015, that was prior to adding the train box to phase 1. The Transit Center would have been completed in 2014. Did we ever officially say we were not going to build a train box out rkts i thought it was contemplated we wouldnt build the train box in phase 1, but not officially say we dont intend to. It contemplated the top down method, the transit section was going to be built on mound dashing only and there was not going to be any exka f yeasting of train box on 2. And we officially adopted that . Yes. Okay, well, then it would make sense. Is there a motion for approval . [inaudible]. Motion for approval. Alright. Any comments . No members of the public wanting to address you on that item. Okay, any objection to the motion . Okay. Motion passes unanimously. Thank you, item 11 si is approved moving on to item 12 is approving the recommended applicant tos the Transbay Joint Powers Authority Citizens Advisory Committee. [inaudibl
People, theyre not named after corporations. I think to name it the google Transit Center or the twitter terminal would be bad in many, many, many respects. I think the term limits if you expect to get money from philanthropy, you cant put terms on it which is not a particular good idea, and i dont know i talked to the gentleman who gave the proposal afterwards and he had no idea how much money was required and he acted like he hadnt talked to anybody yet and two months is not a very long period of time to go out, go in the neighborhood and find millions and millions of dollars for sponsorships. It seems to me unless something comes back, its really great, youre much better off waiting until this project has the kind of visibility of what people actually see, particularly the park. You should be able to raise 30 Million Dollars from philanthropy to fix the park problem, you really should but its not something you can do in two weeks with an rfq. Its a lot of work and i would suggest yo