Is absent. Commissioner, we have 3 ayes. The next order of business is 5e authorizing personal serves contract with Public Financial Management ink for Financial Advisory services in an amount not to exceed 122,000 related to the proposed sales of tax exempt and taxable tax allocation bonds for mission bay north and Mission Bay South. Commissioners, as you recall we refunded a number of bonds in the existing portfolio but these bonds in particular, they are still outstanding bonds in mission bay north and south given the particulars of the plan, its a separate refunding, we want to take advantage of lower Interest Rates of refunding component and there is a new program component, as you know one of our key missions and goals for Affordable Housing so we would initiate our first taxing bonds and first, we are used to being first on a number of fronts. With that i want to bring a whole sleuth of consultants on the Financial Advisor which you are considering today and other contracts befo
For Financial Advisory services in an amount not to exceed 122,000 related to the proposed sales of tax exempt and taxable tax allocation bonds for mission bay north and Mission Bay South. Commissioners, as you recall we refunded a number of bonds in the existing portfolio but these bonds in particular, they are still outstanding bonds in mission bay north and south given the particulars of the plan, its a separate refunding, we want to take advantage of lower Interest Rates of refunding component and there is a new program component, as you know one of our key missions and goals for Affordable Housing so we would initiate our first taxing bonds and first, we are used to being first on a number of fronts. With that i want to bring a whole sleuth of consultants on the Financial Advisor which you are considering today and other contracts before you move forward with those housing bonds with other related consultants for the refunding. With that, i would like to ask john gaegel our ocii a
So i will second the motion. Please call the roll. Commission members please announce your vote when i call your name. Commissioner mondejar . Yes. Commissioner singh . Yes. Commissioner bustos is absent. Madam chair rosales . Yes. I have three ayes and one absent. Okay, the Commission Approves the request. Reluctantly. Please call the next item. City clerk the next order of business is 5d adopting Environmental Review findings pursuant to the California Environmental quality act and approving amendments to the mission bay for south design for development and signage and master plan to allow a wall signage to be located at a maximum height of 80 feet versus 45, the western facade of commercial industrial designated building located to the west of owens street. Mission bay is governed by the redevelopment plans. The Development Standard are not in the planning code but rather for the development and a companion document is master plan north and south. As mission bay has been fully built
Outstanding bonds from mission bay north and two series for Mission Bay South. The most recent calculation which is somewhat dated is approximately 15 million combined. The realized savings will be subject to Market Conditions at the time the bonds are priced which is likely to be in the summer or fall of this year. The new money tax exempt bonds for Mission Bay South will fund the reimbursement of infrastructure cost and support the continued strong pace of development in the project area. The new money taxable bonds will advance the construction of low and moderate Income Housing to those areas. To the extent possible new money and refund bonds will reduce the number of bond series and reduce the total cost of issuance. The outstanding housing related refunding candidates are currently being evaluated due to some difference of opinion regarding the current law. The issuance of new money housing bonds may require legislation or litigation to receive validation action. Besides of any n
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