Conflict and therefore will not be present. And we have director lee. And we have the representative for the court and the joint powers board. And with that, director lee, and here. Lee, present. Director nuru in present. Harper present, and kim . Present. Madam chair you have a quorum. Do we have any communications or board of directors new or old business . Good morning, directors and members of the public, would i like to begin by thanking mayor lee, and the tax rates that were introduced in yul july and i would like to thank all of those in the process, and i have been in with, and working along our side and helping to move the project along and thank you very much and, you are support is valuable and now i would like to ask the counsel to provide a little more detail on the out come of the hearing this rate. And the counsel for the djpa, and the Transit Center, plan, provides, that in return for the permission, to build, the taller buildings, then allowed by the existing zoning, a
And seven years of additional taxes. And or it will wave all time lines or the cfd to expedite and they will not sue the city. And for the two weeks to allow the details to be worked out and we will be looking closely at the terms of the agreement to determine that the final agreement is consistent with the terms proposed at the board of supervisors hearing on september 9th. And the proceeds, with about 665 million of that going to the tjpa. And we, the city projects, that the net of the lower escalation, and the tax payments, will result in the same revenues, to the tjpa to the cfd. And if the settlement finalized the staff, though, and will present the settlement to the board at the next Board Meeting with the resolution that will instruct the executive director whether to vote in favor of the cpd as modified at the settlement and that could occur at the october nine meeting. Thank you, and unless there are any questions from the board, moving on with my report, i have previously rep