Is absent. The next order of business is item 2 announcements. The next regularly scheduled meeting will be held on november 7th, 2017, at 1 00 p. M. At city hall, room 416c. The announcement of sound producing Electronic Devices during the meeting, please be advised that the ringing of and the use of cell phones, pagers and similar soundproducing Electronic Devices are prohibited at this meeting. Please be advised that the chair may order the removal from the meeting room of any persons responsible for the ringing of or the use of the cellphone, pager or other similar soundproducing electronic device. C, announcement of time allotment for Public Comment. Please be advised a member of the public has up to 3 minutes to make pertinent Public Comments on each agenda item unless the Commission Adopts a shorter period on any item and its strongly recommended that the members of public who wish to address the commission fill out a speaker card and submit the completed card to the Commission
Good afternoon. It is now 1 05 p. M. This is the regular meeting of the commission of Community Investment and infrastructure. The Successor Agency commission to the San Francisco Redevelopment Agency for tuesday, february 20, 2018. Welcome to members of the public. Madame secretary, please call the first item. Thank you, madame chair. The first order of business is item one, role call. Commission members, please respond when i call your name. [roll call] all members of the commission are present. The next order of business is item two announcements. A, the next regularly scheduled meeting will be held on march 6, 2018 at 1 00 p. M. At city hall room 416. Please be advised that the ring of and use of cell phone, pagers and similar soundproducing Electronic Devices are prohibited at this meeting. Please be advised that the chair may order the removal from the meeting room of any persons responsible for the ringing of or use of a cell phone, pager, or other similar soundproducing electro
Members of the public that wish to address the commission fill out a speaker card and submit the completed card to the commission secretary. The next order of business is item three, report on actions taken at a previous closed session meeting, if any. There are no reportable actions. The next order of business is item four, matters of unfinished business. There were no matters of unfinished business. The next order of business is item five. Mares of new business consisting of con sent and regular agenda. First, the Consent Agenda 5a, approval of minutes, regular meeting of january 16, 2018. Madame chair . Madame secretary, do you have any speaker cards for these items . I have one. Ace washington. We have a month in the year, i think theyre still shortchanged as they give us the shortest month of the year. What do you think about that . Thats not to say what this agency, dont take it personally, please. But i want yall to hear me. I wish i could get on my knees. I might have to do tha
Up with what is the percentage decline in the rent. Once we have the percentage decline in the rent, we multiply that to the total rent value, what we estimate, given the data, vendor which we used there to look at all the parcels around the city. And figure out what is the total what was the assumed per Square Footage for Residential Office retail and p. D. R. . I believe about, total citywide was i believe 107 million, office space not how many square foot, what did you value it per square foot for rent. Yeah, rent is, i believe, if my memory serves me right, about 67, 63 to 64 for the office space per square feet, and if i believe its for retail, about 30. And for p. D. R. , around 10. So, i can get you those numbers exact, thats the range we are talking about. And what was the assumed value for the market rate residential . Market rate, using an average of these based on the 700, average 749 square foot area, 800,000 per unit market unit. 800,000 rent, total across the city and the
20 . Under this d. D. A. , its 18 . But the developer does get more participation in project revenues and that is on page 19 of the report. In terms of sort of the project financing, Public Financing for the horizontal infrastructure, the developer under the d. D. A. Will construct the infrastructure. Funding sources are shown on page 14 of our report. The sources and uses are estimated to be about 700 million, thats in current dollar value. The developers and the project source, project revenue financing this project have shown the table on page 14. The Developers Equity contribution is estimated to be about 190 million. They have already contributed about 27 million of that towards entitlement costs. With their return, we estimate that the return to developer and the payment to developer will be around 268 million in current dollars. Under the d. D. A. , the developer is paid back from project revenues, prepaid ground leases, rents, financing from the financing district, they say the