The up zoning of certain parcels on the planning area and up zoning allows for the developers to build the taller buildings and they are worth more money and so that is a significant benefit to the developers and in exchange, the developers are required to pay Certain Property taxes and impact fees. And so, the city is working to put in place, formation legislation, that will set the rate and method of aportion for the special property taxes and they are taking the lead on that and the plan is to introduce that legislation some time in the next few months, and in addition to the reasons that maria was mentioning we thought that now was an appropriate time to provide the. And the plan going forward, and potential Revenue Sources and the project delivery methods that we are looking at. We are going to run through the dtx and did a status update on the award that was so far and we talked about the delivery options and we will give a quick refresher of the memorandum of understanding that
First, lets go to mike emanuel reporting from washington on the latest negotiations for the 2,000 payment. Mike . Top democrats tried to force the issue this afternoon, trying to bring up 2,000 stimulus checks today. We should not adjourn until the senate holds a vote open both measures, the ndaa veto override and the house bill to provide 2,000 checks for the American People. Ndaa is an annual defense bill. Price tag, 740 billion, which President Trump vetoed. The Senate Majority leader would like to hold the vote to override tomorrow. Congress has returned to enact the 60th annual National Defense authorization act in to law. Not once in six decades has a congress let its differences prevent it from completing its work for the National Security and our men and women who wear the uniform. Mcconnell is not saying no. Hes saying not now on the 2,000 checks. But a keep progressive says defense bill is not the priority right now. Working families need help now. Not next year, but right no
We are going to run through the dtx and did a status update on the award that was so far and we talked about the delivery options and we will give a quick refresher of the memorandum of understanding that was signed back in 2012 and because that is the basis for some of the Revenue Sources that potential Revenue Sources that you are going to see that could be used for a p3 and then will end with an overview of what our research has found so far in terms of the potential of the p3, for this project. And maria just ran through the list of the stake hold theirs we will be meeting with and providing the update that you are about to get. And to get impute prior to presenting to the board. And here you see a graphic that you have probably seen many times before, and it shows the 1. 3 mile extension from the current terminal of the cal tran to the new Transit Center and you see on the graphic an outline of the Downtown Core and we saw a circle showing the area that we are going to see the ben
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, and the developers building to these increased heights will pay the community facilities, district, special tax. The proceeds will
And the fall of excavation work and 80 Percent Complete on the over all excavation and some of the other highlights that really in zones one and two were completely into the Water Proofing and map slab installation and the director and the pour in zones one and two and in the second half of zone one and two and three. And the thermal and grounding and we have the pictures grounding and the excavation is in full zone. And also into zone four. And the utility work. And it remains, the water system. And we were able to successfully repave it first and the intersections at first and second this period. And we are working closely with the Water Department as well as the other vendors that are in the street somewhere they are supposed to be and somewhere they are not. And and we are confident that we can get that done, before the end of the year and it is not a Critical Path item relative to the building itself. Coming up in the next 30 days which is the month of september, obviously the fir