Join my colleagues trish regan. I thank you. We will talk a lot about apple. Karo, you first, given the huge selloff we now underway stocks lunging almost 300 points right now, what do you think is really behind the selloff . I have said for the last year stocks might be a bit high and that there is a lot of risk. I do not think there is one specific thing. The International Situation is obviously pretty bad. Oil prices, of course, have fallen off a cliff. Have, profits in this country are somewhat questionable. Based on low Interest Rates. You had a harm a high market for a number of years. You have to expect these things. You could ask the other way, what caused the market to go up . 80, 90 . So you think this is the start of a correction . I do not know. It is like asking me if i think the farmers life will shoot another seven in vegas. There are too many variables. I just think, on a macro level, you can predict the trend, and that trend, shall we say, there is a lot of risk. A lot
Like this for the candle stick point side. So were going to provide a brief overview for this today. We have some reps from the cac and the president of the Alice Griffith in the back waving. Also, we have the master developer so far the site and there are a lot of consultants that have been working very, very hard to a keep us on a schedule but the members of the Streetscape Team and well present that as well. The goal as i said is not an action item we wanted to provide i with the opportunity for questions and answers. . The Alice Griffith project is so important and we want you to have time to have q and a so we can make corrects and lets start back in the approval of the project in 2010. As many of you know, the deposition and Development Agreement was approved along with other documents by the board of supervisors and other agencies. The d b. A. Have a lot of dochlts documents. There are others at work the design document approval procedure this layout a process for the city revie
2010 we negotiated that the Alice Griffith revitalization would be linked up for the phase two market rate development. While it seemed smart tempting at the time it wouldnt allow the developer to start without doing Alice Griffith we didnt anticipate the display that actually prevented us from starting on alice awhile we wait for the navy he property. The new phasing is responding to the decouple of of the shipyard and the Alice Griffith now with the 349 could precede. The additional piece i wanted to mention i know the this phasing schedule is something that must get reviewed by the california economical quality act were working with the sequa to identify anything that my create additional economical impacts. Generally, we dont expect that but as part of the approvals were going to be hopeful seeking from you in december well have that analysis complete and, you know, finding related to the Environmental Impact for the preoccupied faekz change but the number one thing is to continue
Marshall special i referenced back in 2010, the commissioner said it would be helpful to have the bill of rights come closer this is a change weve made it has some impacts and theres a tweak that was made on the housing project. Generally what this does that bring the bus transit into the hunter or so shipyard. In addition you have a minor modification with the sfmta duo routine to the 29 and it was approved in 2010 and on the right thats what we motive. The main goal is to get to the front door of the mall. And also the bill of rights on the shipyard side rituals are different and this provide for a better intermingling, if you will, with the transit line around the transit center. So those are the types things weve been fixing in the transit side of things. Here in the bike lane youre looking at the improvement. Weve made bicycle changes in this slide. After the xhoumgs with the Bike Coalition the next time thats shown with the circle e cycle tracks in green it matches the new be cyc
But a Senior Center or a which will care center its broad so we im we still have that obligation to work with the community to figure out what the uses are going to be and also assist with the financial obligation we still have that obligation but the ownership of the real estate wouldnt be with us and at least theyre hoping very much were going to be actively working on that because the city, you know, isnt as familiar with obviously with the requirement that in the phase and theyre looking to us to help figure out what the uses are going to be in the program okay i wont belabor this but i see some members from the cac out here so most of the facilities are not going to be defined by what they want by need. Like a Police Station so its the categories are broad it cant be any or none of all there are some things that need to be there and those parcels are designated spots but theres a small parcel i think its a regularly triangle shaped parcel that was meant to be an open space for wha