The year, because the certain here is the 2046. The idea is that income and if you add the 10. 7 million the city is committing to pay and you take into account the sinking fund it should be paid at that service, so we are having them prefund the year. And then the Stablization Fund and with the office and the revenue division, they did an analysis showing what in the last decade what the loss has been in terms of the revenue of the loss of the recession and it seemed like the 15 million was an appropriate number to have as a reserve to support the transaction in a term through the event of the revenues that they dont come in as we would expect. So we also negotiated that the city has a discretion to adjust the funds. So you could choose to fund the sunking fund and in the prior years revenuing to any other. But because it is today and we will not be starting until 2017. We wanted that flexibility and so it is laid out that way and it is not set in stone, we still have the option of ch
And the goal is that as we move that portion of that 15 million it gets replenished and so it will be maintained through the term of the cod. In addition, as you know, the term of the district expires in 2045, we are proposing that we sell cops through 2047. Typically when you sell bonds once they are satisfied this could go back to fund the future development and Capital Improvement to the center. So if you look at the cash flows, you will see that the number include the med pairs, we are going to use a combination of commercial paper with certificates of participation being used to take that out and we also are using general Fund Operation in this current fiscal year, aappropriated 1. 7 million and there is a proposal to request an additional in this calendar year. If you look at this and you take into account, current interest, the city would go to market today. The once needed the deficit because the cash flow will be positive. And we could potentially not sell the debt out to 2046
Management plan as to how much of these the budgets would cover from year to year. The funds that ensentivizes what the city and the med is trying to attract is between 8 and 9 percent over the course of the district term. The convention, sales and Marketing Fund is a small portion of the budget, 01 percent and there is also a Capital Improvements and maintenance reserves between one and six percent depending on the year, to fund, once the Capital Improvements are in place to fund the Capitol Improvements and then there is an administration and a reserve to pay the treasure and Tax Collector and the costs of over seing the district. The proposed construction time line for the expansion is between 2015 and 2018. And the assessment district would term out in 2045, after 32 years. And the city will be issuing the bonds and i will let nadia come up and talk about the actual financing and sort of the citys role in the Public Financing and the private financing and how that is used to pay ba
When they are filled they get put into another bucket which is for a future possibility for expansion and etc. Exactly. It terms of the areas where we believe that there are potential variances in what we will actually experience, on the cop debt senser is 6 percent, and that could be lower. And then on the med expansion, what were you saying about the source theres . Do you expect the assessments to be higher . Or are we using conservative . What we have here is more conservative than what is in the Management Plan. And also we know that the likelihood that the instance in which it is going to drop and come back up, we feel that funding the Stablization Fund of 15 million we are going to be in a position to weather that. And then in the cash flows in the years, 2019 and 26 or so. Those are the years where the expansion or the assessment in addition to the cost, they generally are resulting in a net impact that is a negative value correct. Meaning that the city is on the hook for putti
Previous years. And so, there is no expenditure obviously, but you are getting money. And the question is i think that one of these goes back to 2010, how have we been carrying these projected expenditures from that time and why were they just discovered and coming back . This becomes important because the credibility of the district in negotiation relies on it saying that it is following, you know, that it is actually spending the money that it says that it is spending and needs the money, that it says that is needs. But these four items seem to indicate that Something Else is going on. So i would hope that there would be an explanation of those four items also. Thank you very much. Good evening, commissioners, superintendent, Debbie Robinson harris, commissioner, i want to bring to your attention that the million plus dollars that San Francisco is continuing to give Child Development program in San Francisco unified school district. It is a continued example of the continued commitme