To sfmta. Is there no deferred maintenance here and other garages that it would be more appropriately used for . Well, thats what this bond issuance is for, in terms of an mta wide, so we can address concerns related to all the garages, not just japan center. Or Sutter Stockton. So, that is our main concern, is that knowing that not only this garage needs improvements, but citywide as well. I understand that, but that seems to me like youre taking bond money, then, and transferring it through a wheel to operational expenses. To the budget analyst analyst. Mr. Chair, as we understand it, the bonds that have been issued are taking care of their Capital Improvement needs. So, this in effect winds up as surplus and can be transferred for operating expenditures to the mta. So, theyre not short changing their Capital Needs as we understand it. Thank you, i appreciate that. I guess my question is but by issuing the debt, you say youre not short changing the Capital Needs, but tame point in ti
Was to maintain the vitality of these shopping district, neighborhood district, and that commitment still stands today with the nonprofit board that i serve under, ive been privileged to serve under because they really are committed to bettering the community for which these garages are residing in. And one example i wanted to give you as far as really trying to quantify the knowledge and experience and commitment, retail [speaker not understood]. Im happy to say were fully occupied and theres no vacancies at the Sutter Stockton garage currently with about 11 retail spaces. We conducted the last three retail leases with no brokers fees. We were with the experience of our nonprofit board. We continue to have full occupancy in our retail and thats because of their knowledge and experience in business, in the community. And i really want to urge you to approve this item. Thank you. Supervisor mar. I had a question. I know the community makeup for the Japantown Center nonprofit [speaker no
Surplus and can be transferred for operating expenditures to the mta. So, theyre not short changing their Capital Needs as we understand it. Thank you, i appreciate that. I guess my question is but by issuing the debt, you say youre not short changing the Capital Needs, but tame point in time youre [speaker not understood] and youre issuing bonds against it for operational expenses. Youre floating bonds to float for operational expenses which we should not be doing. Youre correct in that sense. Well, our mta operating budget also supports the repayment of the bonds itself. For garage operations in terms of the capital improvements, we would be doing the same amount of work there as well in term of what would be available. Okay. Thanks. And to mr. Reiskin, just one more question. Obviously, and i absolutely understand this board and number of Restaurant Owners that weve gone through quite a bit and love the restaurants and people are involved in the community have influence and i think
Capital improvement needs. So, this in effect winds up as surplus and can be transferred for operating expenditures to the mta. So, theyre not short changing their Capital Needs as we understand it. Thank you, i appreciate that. I guess my question is but by issuing the debt, you say youre not short changing the Capital Needs, but tame point in time youre [speaker not understood] and youre issuing bonds against it for operational expenses. Youre floating bonds to float for operational expenses which we should not be doing. Youre correct in that sense. Well, our mta operating budget also supports the repayment of the bonds itself. For garage operations in terms of the capital improvements, we would be doing the same amount of work there as well in term of what would be available. Okay. Thanks. And to mr. Reiskin, just one more question. Obviously, and i absolutely understand this board and number of Restaurant Owners that weve gone through quite a bit and love the restaurants and people
In town. It is not just a parking garage, it is a community partner. They participate in every activity that goes on in fillmore from both sides of the overpass. They put in that overpass and kind of divided and separated communities that have never been divided and separated before. And yet we have overcome that overpass and continued to Work Together and rich hashimoto and the people of the japantown garage have been part of that. You may save 200,000, but what you would lose in terms of Community Involvement and Community Activity will be a far higher price to pay. And let me just say this, and no disrespect to mta and mr. Reiskin. It will not be better run. You may save some money, but you will have a much less one, just because these folk devote their entire time toward the garage, and thats it. So, go ahead and approve this and let us do things the way weve been doing doing them. We really do know best. Thank you so much. Thank you very much. Next speaker, please. Good morning, s