Up . What is the exclusive negotiation agreement, attempted to attempted to do. It outlines the terms that were in the developers proposal. And commits ocii to negotiating exclusively with the selected development team. During that time, the ena time, the team will work on the designs and negotiate the finer, that will be executed in march of 20 is 3, and they are required to pay a 500,000 deposit to pay for the staff and legal costs. During the negotiation they have to meet the contract requirements and things like that. I just would not like to see a repeat of what happened on the tower, the transbay tower, where it came in with a tremendous price, and everybody was delighted over, and over the course of the next 18 months, kind of went down about 100 Million Dollars as i remember, and through, the Property Valuation and the market valuation that they said and i remember that the first time it went down, we were kind of in agreement, that the things were rougher than anticipated, but
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
Actually happening and we have demolition going, and we have mobilization for the Foundation Piles and the cidh piles and the brett pile that makes up the pile on the support for the bridge, but i did just want to recap how that works and this screen line represents the route from the bay bridge, and highway 80 down to the Transit Center, and this is just an overview of that to remind you, of the scope of work and of course, that includes, the cable state bridge, and the main work that is happening and so far we are about to go into the cdih, and the deep pile of the Foundation Work up on the via duct route and we are also starting the brett pile work or the preparation for the brett pile work which is this whole here, which is completely shored and that equipment is moving in shortly, to start work working on that. And as far as the utility relocation, and the executive director mentioned that we are going to get that water line finished this month, and ptand e get out of the way but
Negotiation agreement, attempted to attempted to do. It outlines the terms that were in the developers proposal. And commits ocii to negotiating exclusively with the selected development team. During that time, the ena time, the team will work on the designs and negotiate the finer, that will be executed in march of 20 is 3, and they are required to pay a 500,000 deposit to pay for the staff and legal costs. During the negotiation they have to meet the contract requirements and things like that. I just would not like to see a repeat of what happened on the tower, the transbay tower, where it came in with a tremendous price, and everybody was delighted over, and over the course of the next 18 months, kind of went down about 100 Million Dollars as i remember, and through, the Property Valuation and the market valuation that they said and i remember that the first time it went down, we were kind of in agreement, that the things were rougher than anticipated, but the second time that it we
Pauses in the projects. If you could just respond to that question. Sure. One of the reasons that we have had the pauses that weve had on the project is in being mindful of the budget. We have a large Technical Team on the consultants side and the city team. When the city team isnt clear, we use up the budget and the product at the end of the day may not be what we need. Thats in part why weve had these pauses. Were fairly close to the end of phase one. We put forward the options of the corridor and the next piece is to put them in to concept. In terms of planning, im sorry, i think that was your question. Did you want to speak to the land use issues . Thank you. So, the project manager at planning did begin work just this week, and we have had an initial discussion about the need to get together and frame or develop how these two efforts are going to go forward simultaneously. That was created in order to develop kind of missing piece when redevelopment went away. We really need to lo