Here and when we discovered these features back in mid 2012, production on the project was impacted by four months essentially. But since then we have picked up and we are moving ahead full speed right now on the project. We are 35 done with the project. And id like to highlight the fact that the sods 117 million we are asking to you approve today to transfer to the project will only cover the construction, the increase in Construction Costs. There will be a need for increases also what we call the soft costs, delivery costs for the additional 25 months. And there are also significant risks remaining on that project. So, we are at the same time negotiating a final change order for the discovery of those features with the contractors. All that to say that we will need to go back to our commission and to this committee in about april or may. We will come back and seek from you an approval for additional revisions to the program costs. Now, any increases in the program on that project in
Very seismically vulnerable as it crosses three of the nations most active faults. The Calaveras Reservoir actually has the calaveras fault right underneath it. To ensure the continued delivery of water following a major earthquake, the city undertook the wsip about 10 years ago. This is one of the largest capital Water Program of the nation. And it includes 82 projects spread geographically over 7 different counties. The current Budget Approved for the program is 4. 6 billion. And all our projects, except the Calaveras Dam project, will be is on track to be completed by 2016, mid 2016. I think one of the key outcomes of the program will be the construction of what we call a life line around the bay area that will be able to withstand a major seismic event. And you can see the various components that makeup that life line. Only three of all these components are still in construction. Everything else has been completed and the major components actually remaining are the two tunnels that
So, we are at the same time negotiating a final change order for the discovery of those features with the contractors. All that to say that we will need to go back to our commission and to this committee in about april or may. We will come back and seek from you an approval for additional revisions to the program costs. Now, any increases in the program on that project in the program, we will want to compensate by with savings. So, at the same time we are undertaking a very comprehensive assessment of all remaining projects with the goal of identifying savings that will be able to compensate for these known increases that are to come. Listed here are the two actions that we are excuse me, ms. La bonte, supervisor avalos. With the savings well expect there will be a need to come back or to find additional revenue after that or we can actually accomplish this project with savings from other projects [speaker not understood] . What i know for a fact, supervisor avalos, is there will be a
Employers can do. Its critical whatever ideas come out need to be extremely appropriate for Small Businesses. Because for hispanics, were we are more likely to work for smawses Small Businesses that have less than 100 employees. They are less likely to offer a retirement plan. Thats because the industry has not offered products that are relevant to small employers who have lowincome workers. So we need new why why the ideas. Its important make sure that businesses not be burdened financially or with liabilities and so on and so forth. They will do this. But, i mean, i think people have a moral responsibility to try to help improve the Retirement Security situation of all workers in the country. I want to point out the automatic ira also does not employers cannot provide a match. And there is a i know certainly in the president s proposal and others theres an enhanced employer startup tax credit. I think were out of time. So thank you. Thank you very much. Im going call david. You can c
Today to transfer to the project will only cover the construction, the increase in Construction Costs. There will be a need for increases also what we call the soft costs, delivery costs for the additional 25 months. And there are also significant risks remaining on that project. So, we are at the same time negotiating a final change order for the discovery of those features with the contractors. All that to say that we will need to go back to our commission and to this committee in about april or may. We will come back and seek from you an approval for additional revisions to the program costs. Now, any increases in the program on that project in the program, we will want to compensate by with savings. So, at the same time we are undertaking a very comprehensive assessment of all remaining projects with the goal of identifying savings that will be able to compensate for these known increases that are to come. Listed here are the two actions that we are excuse me, ms. La bonte, supervi