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
Finance to determine it is in the best interests board of supervisors acting a protective body it remains the effort authority to review the material to the ocii Affordable Housing those actions will happen later this month and early december i want to point out you have a revised reducing resolution in front of you basically, we made editing changes and fixed some type were recommending approval of t the First Amendment and we may make some minor changes Going Forward as we near the end of the transaction im here as well as at representative if the Transbay Joint Powers Authority to answer questions thank you. Thank you do we have speaker cards. I have no speaker cards okay and do we have questions or comments concerns Board Members of the commission . Commissioner mondejar yes. Id like to hear from the tjpa representatives for their comments. Obviously you need the financing. Im Deborah Miller the egyptian and one of the principles in norwalk this transaction i have scott the electiv
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
Korea appears to be in the midst of a perch following the execution of the second most powerful man in the country. Jones will attack was hanged to death on the orders of the stuff you can michelle on who is now consolidating ska punk how will the skin is successful he couldnt show is still control the country for years to come. The execution of the leading member of his familys old dawn is raising questions about the stability of this unpredictable and newquay of state. Like his father and grandfather before him. Kim jong un is constructing his own personality cult making link you will not tolerate any threat to his authority. Im killing and opinion on just a look and sixty feet in a current state media. Using the new day. He was going to destroy a hold on to unity execution is too lenient only to be torn up and thrown into the rubbish bin of history. Will the lasagna digital cinema. In two years since kim jones who became supreme leader. His uncle johns aunt it was considered by many