Then 2043 i believe because there is a 2011 deal as well. Lots of bond more than 3 quarter billion dollars. Yes. Okay. I actually have a very nice handout was given and dont have time to read it this time but think the is very interesting. [inaudible] do we have any additional questions . May i ask the sequa question since it is raised on the record . Thank you. Good afternoon. Bree mu horta dep tedirector of finance administration. I would like to separate the issue of financing from sequa. The issue before you here today is how will we raise the capital necessary to finance the project. Many of the dollars are expended by the developer. About 5 opercent the new money dollars go to refl burse the developmenter for structure in place. The opa [inaudible] to the developer which means all property tax above the base level of property tax in the Redevelopment Area was created boy legal right belongs to the developer and the agency is past for that. The opa obligates the agency to issue de
The first order of business is item 1, roll call. Commission members please respond when i call your name. Commission mand har is absent. Commissioner [inaudible] present. Commissioner sing rr, here. Commissioner booustoes, here. Madam chair rosales, here. Commissioner mondejar is absent and all other members are present thmpt next order of business is item 2, announcements. A, the next regularly scheduled meeting of november 3, 2015 is held at 1 p. M. At city. Announce of prohibition of sound producing Electronic Devices. The rings of and use of cell phones, pagers and similarly sound producing Electronic Devices are prohibited at this meeting. Please be advised the chair mayordser removal of the meeting room of any persons responsible for the ringing of or use of cell phones recollect pagers or other sound producing Electronic Devices. C, announcement of time allotment public comability. Be advised the member of piblic has up to 3 minute to make Public Comment on each agenda item unl
Sfmta answer that. I believe it is around 10 percent but let me afternoon commissioners. Greg nob nab mta praiject manager for folsom Street Project work wg ocii and public works. The question of how many parking space will remain along folsom street rf affthe project is still something we are working on. We have to work with the Fire Department. The original plan is sth majority of the parking remains othen street and hopefully that st. The case but the Fire Department is concerned about the width of sth street available it them and the way it is designed it may notd be parking but curb side loading is i think the more appropriate treatment along the street given the high density. Something the team will on with the Fire Department in the coming weeks to figure out the parking along folsom parking is a big issue for us. The city mta specifically has been sort of widdling down parking throughout the city. It isnt just us. You guyerize pushing it the design is to keep the parking so we
Properties with construction completed or soon to be completed but not yet on the tax rolls. We can issue a parody bond based what is on the tax rom but there is a lag between incompletion of the project and getting oon the tax roll. This is taken to maximize the funding provided and development in future tax increment that can be taken advantage of now without waiting until the years get on the tax rolls. The debt uvs is lowing in early years to offset uncertainty regarding the timing of assessment of the completed projects [inaudible] sufficient tax increment available. Final Interest Rates on the bonds are grud in negotiation with the investor or investors. [inaudible] also included in the items before you. July 7 [inaudible] Underwriter Panel on the due date 10 days later 8 proposal were received and reviewed by a panel consisting on bob gamble of pfm, ocii Financial Advisor [inaudible] San Francisco Controllers Office and myself. The panel evaluated on the following criteria, expe
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