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it has five years on the term. the rail agreement and locomotive lease expire at the end of this year. in february of 2017, the port commissioner approved the amendment extending the term for five years. at this time the port partnered on a propject project to add 2002 track in the rail yard. to handle the increased projects including the new warriors chase arena. take other terms include raising railcar fee 25% permitting a an annual guarantee of $250,000 and adding increase of 3% to both the railcar fee and annual guarantee. at the time of this amendment both parties agree to not extend the agreement or lease, both having two more years of term. this was due to the time sensitivity to accommodate the upcoming projects. the port was working on grand opportunitying. all three worry negotiated for a term of extension in the future. that has brought us to today. the proposed amendments to the three rail agreements. the amendments have updated business terms. all three a ....
okay. we will do two minutes per. okay. each person will have two minutes to speak on each item today for public comment. please, some of you may not have been here before, but a couple of things when you speak, please speak into the microphone microphone. anyone who is speaking. anyone else should be able to hear. when you make public comments, you will hear two bells. the first one is just letting you know you have 30 seconds back in the second one means your time is up. so when you speak, if there is an item of interest that is not on the agenda and it is under the subject matter jurisdiction of the commission, you may speak under general public comment, and that is item four, and then continued on item eight. please put them down. please address your comments to the commission during public comment on items. in order to allow equal time for all, neither the commissioner his staff will respond to any questions during public comment. the commission may ask staff to ....
that will also happen on an annual basis. the idea behind the supervisor s thinking here was explained to us and we are trying to provide more economic incentives for the owners not to leave the buildings are vacant, which as everyone knows, can create a downward spiral in the neighbourhood and lead to illegal occupation and illicit crimes and often other elements. we will be working closely with the supervisor s office on this. we have been, in terms of the original drafting. there is a provision in here calling for a rebate if somebody comes in after they ve committed to pay their fee, we may want to discuss that with the supervisor a bit further because i have a feeling that our inspection group will already have engaged the time that the original registration fee was designed to cover. so i don t know we want to get into an administrative process that is going to easily exceed the 711-dollar registration fee. if the supervisors are amenable to that, we will raise th ....
minutes to speak on each item today for public comment. please, some of you may not have been here before, but a couple of things when you speak, please speak into the microphone microphone. anyone who is speaking. anyone else should be able to hear. when you make public comments, you will hear two bells. the first one is just letting you know you have 30 seconds back in the second one means your time is up. so when you speak, if there is an item of interest that is not on the agenda and it is under the subject matter jurisdiction of the commission, you may speak under general public comment, and that is item four, and then continued on item eight. please put them down. please address your comments to the commission during public comment on items. in order to allow equal time for all, neither the commissioner his staff will respond to any questions during public comment. the commission may ask staff to respond once public comment is closed. very last, if the fire alarms ....
within 60 days. that will also happen on an annual basis. the idea behind the supervisor s thinking here was explained to us and we are trying to provide more economic incentives for the owners not to leave the buildings are vacant, which as everyone knows, can create a downward spiral in the neighbourhood and lead to illegal occupation and illicit crimes and often other elements. we will be working closely with the supervisor s office on this. we have been, in terms of the original drafting. there is a provision in here calling for a rebate if somebody comes in after they ve committed to pay their fee, we may want to discuss that with the supervisor a bit further because i have a feeling that our inspection group will already have engaged the time that the original registration fee was designed to cover. so i don t know we want to get into an administrative process that is going to easily exceed the 711-dollar registration fee. if the supervisors are amenable to that, ....