Also in the programme a sweeping election victory for gotabhaya rajapa ksa. Sri lankas new president says he will be the leader of all citizens, regardless of religion or ethnicity. And, how to help workers when dirty coal mines close. Can spain be a model . Good morning. Its 8 00am in singapore, midnight in london and also 8 in the morning in hong kong where local media are reporting that police have entered the Polytechnic University campus after a two day standoff between protesters and police. Activists inside the University Set its main entrance on fire as police made another attempt to take the building. Police have used tear gas and water cannon against a group of about 100 pro democracy activists, whove responded with petrol bombs and rocks fired from catapults. Our correspondent gabriel gatehouse, whos at the scene, sent this report a little after the trouble started. For the assault on the campus has started, about five minutes ago we thought several dozen black clad Police O
To my heart to mr. Spencers heart you can understand from the family issue that price was that important also to mrs. Spencer once we got the price in although the other data showed it could be appropriate in this case, the ownership agreed to renegotiate we reopened that question the number before you ask a reflection my desire was to go lower so our leverage is somewhat limited again due to Market Forces there were not other Market Opportunities in the marketplace logically give consideration to in the budget Analyst Report we had own one Million Dollars in the investigation of this site and the sequa approval that cites specific the value that is lost if we move to another site compound that with potential time issues if we have to pursue another site and get the sequa proposals and now the cost running 5 to 10 percent given the project cost of 0 over one hundred Million Dollars thats a hefty amount when i weigh all those factors and the Market Dynamics i think well these not far fr
Out. At the end of january well have to look for other source of fund in order to continue to lease that. Okay why not move into Public Comment anybody wish to comment on item 8 . Okay Public Comment is closed. Colleagues any further discussion at this point let me just ill make one comment i this is a tough one from high prospective i appreciate mr. Roses analyze it is tough to shallow ive seen the recent real estate and things get out of hand and i astronomical costs while the portfolios or whatever were doing as a city were in the market as well as everyone else and the general difference i want to show to our department so i agree with mr. Roses analysis but i struggle i know what is market is out there we a run of risk of losing this property and i think thats a tough question i think that the geobond issue is real from my prospective but id like to hear my colleagues. I appreciate mr. Updykes and mr. Rose pointing out that large disparity between the appraisal and the price were
Proposals and now the cost running 5 to 10 percent given the project cost of 0 over one hundred Million Dollars thats a hefty amount when i weigh all those factors and the Market Dynamics i think well these not far from the property that suggests this is a fair prissy hope that helps give a little bit of context. Thank you, mr. Updyke. Supervisor mar. Thank you, mr. Updyke and our appraisal and your budget Analyst Report your responses to the cb r report are helpful but a wide gap of 4. 5 million from the cb r e appraisal from 14 million plus and option 2 to go back and see if you could get closer to what the appraisal was but look at the comparable the different comparable sales you think are relevant to the and i prevail that would be my hope i have a dw question about Eminent Domain since its brought up how is fair market value how would you determine that i dont know the process. Im happy to give some context on that im sure john gibner, deputy City Attorney will share information
Continue if they fail to result in a reasonable supplement by either party the court can rule through a jury action so thats the process its long its complicated and its just not a very good fit for a general Obligation Bond measure that has a few things in the wrong sequence for us. I understand the delays in the Eminent Domain process i see that thousands us off in the faurment it be. John gibner deputy City Attorney to provide more detail after the city has its appraisal and the owner does his appraisal the city has to make an offer as the first, i think formal Eminent Domain process if that form offer does not result in a settlement it would be our awe operated value not there are the board of supervisors can precede with the Eminent Domain will have to adapt a resolution of public necessity by a 2 3rds vote and that resolution will have to find a public use for the property and that it will serve the greatest public good and cause the least harm the city files a lawsuit and ultima