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
Funding improvements for bus transit in the area. So with that, im going to turn it back over to phil, from the port. Supervisors, that actually concludes our presentation today. We are available to answer any questions that you may have. Thank you. Great. Thank you so much. 1k3 and so i want to call up members of the public who wish to speak. People flock to these different neighborhoods in saech search of something novel and different. Yet where i live, people drive through on their way to a different destination. Those that live in the area leave to go to other neighborhoods. Mission rock will create an inviting, inclusive, vibrant neighborhood drawing on the residents of mission bay, mission rock and south beach. Mission rock will bring about new friendships and relationships, the very essence of community. Neighbors supporting new small businesses. It will friday more Affordable Housing, presently in short supply, and with eight acres of open space, it addresses a desperately need
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 they cannot compel the general fund or the port fund to repay their costs. In sort of summary of this project, same we said when we looked at the pier 70 project, this is complex, the financing is complex. If project revenues do not come in in the amount or the frequency that they are expected, it will cause delays in the project, that would be the major risk to the project. We recommend amending the resolution that approves the d. D. A. To requ
Good morning today is friday july 10. Welcome to rules committee of San Francisco board of supervisors. My name is john avalos joined by catty tang who is vase chair and to the left is supervisor kim. Our clerk is alisa samara and todays meeting is broadcast by sfgtv tom lofts and charles crim nack. If we have a motion to excuse supervisor cohen. So moved madam clerk if you can call your announcements and the first item silence all cell phones and electroning devices. Complete speaker cards to be submitted to the clerk. Items wilt appear on july 21 board of sfr visors agend a. Item 1 is a hearing to consider the Initiative Ordinance submit pd wie 4ory more supervisors at november 3rd, 2015 election. Up hpidate and expand the surplus ordinance and the public process, expand the affordability criteria. Restrict for 120s days property to be considered and [inaudible] thank you madam clerk. Well hand this over to supervisor kim who is the author of the Surplus Property legislation and im c
The meeting of july 14, 2015. Supervisor norman yee okay. No objection. Motion passes. Madam clerk, could we have items 3 17 called. City clerk items 3 17 are various agreements through San Francisco. Supervisor norman yee before we conclude, is there any Public Comment . Is there any additional Public Comment . Seeing none, Public Comment is closed. Colleagues, is there a motion to convene this in closed session . Supervisor london breed so moved. Supervisor norman yee we are now in open session. Deputy attorney john gibner. During the closed session the board voted unanimously to recommend items 3 14 to the full board with a positive recommendation with item 9 as a committee report. Supervisor norman yee colleagues can we have a motion not to disclose what happened in closed session. Okay. Motion passes unanimously. Madam clerk, is there anything else further in the agenda . There is no further business. Supervisor norman yee if there is nothing further, this meeting is adjourned. [