Say is relatively small, and then the full funding condition. The recognition of formation of the cfd, and alleviates quite a bit of that risk, and we are able to use, the proceeds towards the phase one, and so, and of course, it is mentioned that we are talking with the Mayors Office, about and your second question was about the net tax increments take out and i will let, bryant it is going to be a function of hopefully, if the block and the block 8 and five, closed, and then, be able to generate more proceeds and deem out the bridge loan and i think that the more conservative read would be that if we are in that position where we need to go out for the tax increment financing and something, on the Development Schedule is probably and that will be a function of the market and we are in the period of low Interest Rate and that is not to say what the market will be in 2019. We are in the high threes. If that is goes the one year. That is the full term. Everything . Sorry . For everythin
Good morning, commissioners, my name is april and i am the legislative aid for supervisor jane kim whose district is a district for 181 freemont and i am here to experience our support for this variation from the transbay, redevelopment plan, in general, the supervisors supports on site affordability, and but that just something that is important to her that is related to mixed income neighborhoods and i think that this is a unique circumstance that the supervisor has examined carefully with the advice from the staff, and this is a variation that would yield at dishal affordable units in the project area moving forward on our 35 percent goal for the area, this is a unique circumstance in which the supervisor supports this change. While i agree with the staff position that this is unlikely to set a precedent for other projects in the project area, i do feel the supervisor feels that this is an important precedent in the unique precedent that set and that relates to a developer, that is
The cfd boundary along with the transbay redevelopment boundary, if you can see the outline in red is the cfd boundary and then, you can see sort of the gray lines within that of the transbay plan, and zone one, which are the public parcels under ocii jurisdiction and it is indicated there, and sort of at the bottom of the plan area and then in zone two, are private parcels under the jurisdiction of the Planning Department and so within that boundary were rezoned through the center and district plan and they got significant height increases on several parcel and previously they topped out at 550 feet and now, multiple Development Parcel cans go up to 700 feet or above. And they also removed, the density limits which has allowed more development on parcel and as part of the adoption of the plan and the up zoning, the code was amended to require new impact fees and participation in this melarue district by the new development. And here is a closer out, more detailed view and you can see
Dollars in potential, and we continue to work with the Mayors Office for the funding for the parks so that we can open the park with the Transit Center to be sure that the park can be opened with the Transit Center and issue, with what i think and the prepackage that requires the lead for the plant course and we should do that for last month, and we will bring it for at ward in january. Also with the elements of the park in january and this was bringing that to the board for award in june. The contract will be paid a set fee, and once the design is completed and the total cost is agreed to and the Construction Cost portion which is step two of the process will be brought up to the board for approval and incorporated to the example of the contract once the board approves the awards and as you may recall, the exterior auning and the packages that were issued for the mid novemeber, 2013, and we have the full prequalified bidders and did not receive any bids as part of the january, 30, dat
What are the key risk items, and you may have said this, and just articulate again, the risk items of being able to do that . And in the probability and then in the second piece is, if you are not able to do that, and you go and you go to the full extent until you have to have the tax increment financing, what is that, what is that equate to in terms of what the budget can absorb and what additional funding would be needed . Sure, i will address your first question, first, about the risk. And so the risk of not being able to pay back is the risk to not be able to draw down on tifia and not areceived, 429 million in land sales which will mean that block 8 or five had not closed as a mentioned things happen and the land scale dates do get closed out from time it time nothing like four years and the bids on those parcels have already been received. And they are locked in to the extent that there is a disposition and a Development Agreement in place, with block 8,; is that correct . . All