increment in san francisco, and we are unique in this way, on affordable housing production. as you all probably know, the city, on a couple of occasions, has gone to the voters for general obligation bonds for the production of affordable housing. on both of those occasions, they did not get to the 2/3 that was necessary, but they were well over the 55% threshold that the governor is suggesting. there are those that believe that at least for affordable housing, the voters would be amenable to some type of bond issuance that would allow for affordable housing production. on the kind of infrastructure development side, again, infrastructure finance districts are emerging and people are talking about that as a more blunt tool, but one that could be used for the kinds of infrastructure investments that we have made in places like mission bay and hope to make at treasure island. that wouldcommissioner torres: . commissioners? thank you. that is very informative. i guess there
losses among others? yes. president vietor: thank you so much. we really appreciate the update. public comment on the general manager s report? hearing none, next item, please. the next item is the bay area water conservation project. because you have a long agenda, i will keep my remarks brief. in response to commissioner caen s question earlier, you asked for a response from the staff on implementing the agreement. i will have comments and some recommendations for consideration little on with the other items. i will keep my presentation sure this afternoon short this afternoon. president vietor: questions, comments? hearing none, next item, please. the next item is the consent calendar. and approve months for upgrade services for the east bay and delta electric. the proven awards contracts for upgrade services to san francisco and east bay area s 42nd lowest qualified responsible and responsive bidder in light energy- efficient lighting. this is the second of
it was a very easy process. we have also noted that the redevelopment areas are at or above cost service. these rates do not relate subsidize the general fund rates or the excess sales of power. there are contracts with modesto and rates for the enterprise from the airport. the green is very commendable. finally, the community choice aggregation is moving down a path. that will be a much more difficult and much more controversial process for you and for the rate fairness board, but we are up to the challenge. we think this is a nice starting point for the process. it will be a much more contentious issue. with that, i will take questions or defer to staff. president vietor: i want to thank you for all your work. express our thanks to the entire rate fairness board. we really appreciate your hard work on this and your recommendations. commissioners, and the questions? any questions? vice president moran: i would like to echo that. i think your last two slides were a couple t
work force development objective. i am happy to answer any questions that commissioners might have. president vietor: any questions or comments? we appreciate your reminding us of these issues. we hope you ll come back as opportunities arise to see how we can help. it would be great to develop the work force and provide as many opportunities as we can out there. if i may, i did a back of the envelope calculation reminding you that phase one is approximately 1200 homes. the remaining 10,500 homes have yet to be built up. there is a lot of high-density development, ranging from towers 35 stories tall to a very big projects. i did a back of the envelope to regulation of the projected energy to create 10,000 jobs, you are looking at something like the $125 per year subsidy per job to facilitate the attraction of those businesses. that is one ankle and one way to think about it as we move forward. president vietor: thank you very much. next item, please. next item discussion
what you need to do is to pay your fair share. that is on the table. my last observation would be the nature of a five-year rate within the power market, which is very volatile. there was an objection that was raised because the rates are expected to go up over the past 15 years and our rates would be at 80% of pg&e. that makes me a little uncomfortable that we are providing a deeper and deeper discount from what the market indicates is the value of our and not just in is the value of power and not just he frequently. we are going to revisit this annually. pg&e has averaged two rate changes every few years. staff here, just like we did for water and waste water rates, we revisited the requirements. what you have seen here is an assumption for 2011 and for the last 12-18 months. if you want us to come back the question goes beyond that because if you came back every month, we would have roughly the same answer. there s nothing in here that talks about the market. the