Good morning, everyone. The meeting will come to order. This is the january 15, 2020, regular meeting of the budget and finance committee. I am sandra fewer. I am joined by supervisors walton and mandelman. Our clerk is ms. Wong. Clerk please make sure to silence all cellphones and electronic devices. Completed copies of any documents to be included as part of the file should be submitted to the clerk. Items acted upon today will appear on the january 28 board of supervisors agenda unless otherwise stated. Thank you very much. Madam clergyman, can you call item 1 and 2. Clerk resolution approving the issuance of up to an additional 3,000,000,000 aggregate Principal Amount of San Francisco International Airport second series Revenue Bonds to finance and refinance airport capital plan projects; and item 2 ordinance appropriating 3,888,069,311 of proceeds from the sale of Revenue Bonds or commercial paper for Capital Improvement projects to the Airport Commission for fy20192020; and placi
Otherwise stated. Thank you very much. Madam clergyman, can you call item 1 and 2. Clerk resolution approving the issuance of up to an additional 3,000,000,000 aggregate Principal Amount of San Francisco International Airport second series Revenue Bonds to finance and refinance airport capital plan projects; and item 2 ordinance appropriating 3,888,069,311 of proceeds from the sale of Revenue Bonds or commercial paper for Capital Improvement projects to the Airport Commission for fy20192020; and placing 3,888,069,311 on controllers reserve. Thank you, madam clerk. I think we have Cathy Widener from the airport joining us today. There has been a request to continue this item for one week, but i think well have the presentation for today. So if you wouldnt mind, ms. Widener, and we will hear from the b. L. A. Good morning. Cathy widener with the San Francisco International Airport. The two bond items for consideration before you are two bonds up to 3 million and to appropriate 3 million
Where we bring you todays market moving news from around the world. From hong kong to beijing to london to washington our bloomberg voices are on the ground with this mornings top stories. Start right now with hong kong with the citys financial chief said the economys set to contract in fourth quarter. Jeff joins us from hong kong on the telephonement welcome. Give us an update where we are. And how the economys doing there. Jeff good morning to you. The economy is hoping to see some kind of stabilization in the coming weeks. But the damage has already been done in the third and fourth quarters this year. We have only just seen a relative easing in the protests. But we are a long way from having an all clear or any kind of resolution to the political standoff. That means that the tourists and the spending that are the core of this economy, they are not going to return soon. We may see stabilization but it will be lower levels. David thank you so much. Jeff black reporting from hong kon
Second is Revenue Bonds not to exceed 87 million to provide Construction Financing for the residential project. The hearing was held in june of this year. The bond allocation was approved october 16th and to note this financing is conduit and does not require the city to pledge repayment of the bonds. Third resolution requests approval of amended restated grant to provide 13. 4 million to finance construction of the city owned and operated Homeless Services center to the mercy affiliate developing that project. Of the financing structure to maximize noncity resources to support the homeless center. It covers a portion of the funds needed to build and leveraging tax credit for its portion of the shell costs. To review the timeline. Today we are before you to request approvals. The construction contract will be final later this month. We requested h. H. S. Transfer in december and we would Close Construction and bond financing and Start Construction in january 2020. Once the board approv
Allocation of no place like home funding targets to create the permanent housing for chronic homeless with serious Mental Illness. Second is Revenue Bonds not to exceed 87 million to provide Construction Financing for the residential project. The hearing was held in june of this year. The bond allocation was approved october 16th and to note this financing is conduit and does not require the city to pledge repayment of the bonds. Third resolution requests approval of amended restated grant to provide 13. 4 million to finance construction of the city owned and operated Homeless Services center to the mercy affiliate developing that project. Of the financing structure to maximize noncity resources to support the homeless center. It covers a portion of the funds needed to build and leveraging tax credit for its portion of the shell costs. To review the timeline. Today we are before you to request approvals. The construction contract will be final later this month. We requested h. H. S. Tr