Auction. Most the parcels on the list are time shares or sliver lots. Few residential dwelling are auctioned off because the taxpayer may redeem the parcel before auction. The tax auction is important tool insuring high rates of Tax Compliance and largest source of city revenue providing fundsing for schools recollect Community College road and transit. Happy to take questions. Colleagues any questions . No. Okay. Yes, please . I dont seem to have thedo you have the list i have a list here of the parcel subjection to auction. There is one parcel that was of interest. Sorry. I want the record to reflect we dopet have a budget legislative Analyst Report for this item. Mr. Yee. It was the first one, the commercial one. It is just listing a price but couldnt tell which size it was. Excuse me. The first item. It is listed as commercial and curious of the size of the structure or lot and whether or notsomebody saying something . That is a one Story Building off third street. You know how big
Weekend although there are many events, i am happy to represent the board of education at the black cuisine judging contest saturday since none of you will make it because you will be at the summit or the conference on saturday march second, it is the 33rd annual black cuisine cook off. There will be many, many food vendors as well so if you are not judging in the contest, there will be a wonderful compliment of all kinds of food, there available and it is really supporting the bay view hunters point, dr. David george senior center. And cathy davis was really leading the charge this year. So, i will represent you all well. Just so you know. All right, commissioner mendoza. Thank you. So on the report so buildings and grounds met on monday and we had a really good conversation about local hire policy and we put forward a positive recommendation which will be coming to the full board directing the staff to develop a policy. And there is a City School District select Committee Meeting tom
Sacramento to be down here. Thank you, phil, for being here. I know we have a representative from betty yee office, board of equalization that has oversight on Assessors Office across the state. Jose cisneros, treasurer of state. You sent david augustine. Ben rosenfield, our controller, [speaker not understood], our budget director, of course. And then harvey, thank you for being here as well. And just all the members of the board that are here today. I think nadia is trying to get down here as soon as she finishes the final ratings on other companies. But i first of all it really is a necessity to have someone at the helm of the Assessors Office. I personally want to thank zoom wynn who has been in that transition for us. Shes a real delight to have work with in this time period. Shes held the office together and i want to thank her permly for being here today. applause a great job. You know, it comes as no surprise probably for all of us that ive chosen carmen. Carmen has been willin
And its worth noting on that final bullet that the debt service for this contemplated issuance has already been included and approved as part of your 201314 budget. The commercial Paper Program, theres a lot going on on this page. And im not going to try to cover all of this. The take away is what weve already noted. The short term maturity, that first bullet category in that right hand table, has a maximum maturity of 270 days. And upon maturity its up to a commercial paper dealer and investment bank, bank of america, a morgan stanley, that type of institution to roll that over to new investors. And they can do that for years. And typically they do. But staying so short with each maturity is what gives you the benefit of the low rate. So, youre going to have really heres the two take aways for the commercial Paper Program. It gives you flexibility to draw down on it as needed and only pay as you draw. And you could repay it a soon and as often as youd like. Here are some details of ho