Say is relatively small, and then the full funding condition. The recognition of formation of the cfd, and alleviates quite a bit of that risk, and we are able to use, the proceeds towards the phase one, and so, and of course, it is mentioned that we are talking with the Mayors Office, about and your second question was about the net tax increments take out and i will let, bryant it is going to be a function of hopefully, if the block and the block 8 and five, closed, and then, be able to generate more proceeds and deem out the bridge loan and i think that the more conservative read would be that if we are in that position where we need to go out for the tax increment financing and something, on the Development Schedule is probably and that will be a function of the market and we are in the period of low Interest Rate and that is not to say what the market will be in 2019. We are in the high threes. If that is goes the one year. That is the full term. Everything . Sorry . For everythin
What are the key risk items, and you may have said this, and just articulate again, the risk items of being able to do that . And in the probability and then in the second piece is, if you are not able to do that, and you go and you go to the full extent until you have to have the tax increment financing, what is that, what is that equate to in terms of what the budget can absorb and what additional funding would be needed . Sure, i will address your first question, first, about the risk. And so the risk of not being able to pay back is the risk to not be able to draw down on tifia and not areceived, 429 million in land sales which will mean that block 8 or five had not closed as a mentioned things happen and the land scale dates do get closed out from time it time nothing like four years and the bids on those parcels have already been received. And they are locked in to the extent that there is a disposition and a Development Agreement in place, with block 8,; is that correct . . All
Have the tax increment financing, what is that, what is that equate to in terms of what the budget can absorb and what additional funding would be needed . Sure, i will address your first question, first, about the risk. And so the risk of not being able to pay back is the risk to not be able to draw down on tifia and not areceived, 429 million in land sales which will mean that block 8 or five had not closed as a mentioned things happen and the land scale dates do get closed out from time it time nothing like four years and the bids on those parcels have already been received. And they are locked in to the extent that there is a disposition and a Development Agreement in place, with block 8,; is that correct . . All of the properties 8, 9, and 5, and disposition and Development Agreement in various levels of process, and i believe that block 8 is schedule for coming before the ocii commission, relatively, and closed dates are set forth in those agreements with ocii, and so the risk th
Budget could absorb that. And so my first question is, what are the key risk items, and you may have said this, and just articulate again, the risk items of being able to do that . And in the probability and then in the second piece is, if you are not able to do that, and you go and you go to the full extent until you have to have the tax increment financing, what is that, what is that equate to in terms of what the budget can absorb and what additional funding would be needed . Sure, i will address your first question, first, about the risk. And so the risk of not being able to pay back is the risk to not be able to draw down on tifia and not areceived, 429 million in land sales which will mean that block 8 or five had not closed as a mentioned things happen and the land scale dates do get closed out from time it time nothing like four years and the bids on those parcels have already been received. And they are locked in to the extent that there is a disposition and a Development Agre
Form the cfd and it is schedule a special election, for closing on december 29th. And we anticipate that the city board of supervisors will take its third. I understand that. Okay i just want to and if we prepay and everything goes well, and on the year, and that insurance that we purchased for all of that time proves worthless, i am going to be upset and so your job is going to be somehow to find a buyer for that because that will be wasted money. And brian will send you a copy of the check that we receive for selling remaining Interest Rate cap. Yeah, okay. Yes, go ahead . It was a meaty item and there could be a item that proceeds and that will be helpful and it was really a lot to absorb and this is not my area of expertise, and having said that, i will support it because, you have to keep the project moving having said that, i will add, i think that some of the reservation with me, because i am a recent board member and i dont have all of the history and all of the that item will