Work through research and consultants it is unprecedented to have a Sports Facility be privately financed. The sports facilities you see built and rehabed around the country really to one include direct public subsidies from state and local governments in order to finance the arenas. We are talking a billion respond, contributing only to substructure, only to the portion we own. The proposed funding, the city will reimburse warriors for improvements to infrastructure capped at 120 million. Funds are restricted to three sources we have discussed. Proposed operations and maintenance, we have reached out to city departments. The police funded the cost estimates are to be determined. We will be in the cost will be associated with calls for service during events and non events. Responses to illegal vendors and such. Fire anticipates no direct fiscal impact from the project. Number of staff and hours worked will not change as a result of this development. As mentioned by chief lombardi the S
recess . executive session . Are you guys ready . Okay. Roll call. Commissioner. Present. Commissioner. Here. Commissioner. Here. Commissioner. Here. Item two approval of minutes for october 23, 2012 meeting with a minor correction. So moved. Second. All in favor . Aye. Number three Public Comment on executive session, sue hester. Sue hester. I didnt identify myself on there, but i have attended all of the public workshops for public input on pier 3032 and i would ask this commission and the staff to direct everyone who is a negotiating party to when they attend these Public Meetings to shut up and identify themselves. There was a lot of furor at my table at the latest session which was quality of life because one of the warriors negotiators sat at our table and had input, and was very vocal, and didnt identify herself as a warriors until the entire thing was over and people freaked out. I request that there be a rule and enforced on all negotiations particularly the Golden State Warri
Mr. Mayor, will you have the honors. District supervisors, mohammed, phil, julie, come on down here and grab yourself a shovel and were going to have a countdown. Are we ready . Lets have a countdown. On the count of 10, 9, 8, 7, 6, 5, 4, 3, 2, 1 North Beach Branch Library . Are you guys ready . Okay. Roll call. Commissioner. Present. Commissioner. Here. Commissioner. Here. Commissioner. Here. Item two approval of minutes for october 23, 2012 meeting with a minor correction on the first page commissioner brandon was present. So moved. All in favor. Aye. Number three, Public Comment on executive session. Sue hester. Sue hester. I didnt identify myself on there, but i have attended all of the public workshops for input on pier 30, 32, and i would ask this commission and the staff to direct everyone who is a negotiating party to when they attend these Public Meetings to shut up and identify themselves. There was a lot of furor at my table at the latest est session which was quality of lif
Neighborhood quality of life services. Now fiscal feasibility. There are five requirements of fiscal feasible. Looks at direct and indirect economic benefits of project, proposed Construction Costs, proposed funding, operation and maintenance costs and proposal to use public debt. In fiscal feasibility report and numbers we generated with help of eps and barrett, we did use conservative assumptions. If you have questions about the number of assumptions, i have jim mussbach and Richard Burton from eps to talk through them. First the economic benefits. There are two sources. Some is annual unrestricted general fund and other is dedicated or unrestricted revenue. Approximately 12 million in annual unrestricted general fund revenue from sources you see in this chart expected from the development at the two sites. The initial number that was generated in fiscal feasibility report used pay roll tax. We will have gross receipts tax by the time arena is completed. The number has been adjust so
That debt. That is something we will discuss with director of Public Finance and others who work on finance in the city. I think jennifer has talked a lot about the project financing that we will address through the pro forma analysis and discuss what the city is obliged to repay and community benefits. How specifically is city through the term sheet with warriors establishing a way to pay for police, neighborhood cleanup and additional transit service. Those have to be answered in the term sheet. After the term sheet is approved, it would be endorsed by the Port Commission and board of supervisors. It is nonbinding, reflects intention of parties headed into Environmental Review. During the period of Environmental Review city staff would negotiate a more detailed set of transaction documents governing the sale of seawall lot 30 and longterm lease of piers 3032 and those would be subject to both Port Commission approval and board of supervisors approval. That is expected in early 2014.