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Okay. Much appreciated. We dont have a budget Analyst Report so we will move to Public Comment. No Public Comment so its closed. Colleagues, can i have a motion to approve these items . Mr. Chairman i believe there is a need to amend the title. Okay. Actually chairman farrell can i ask a question . Please supervisor mar. I know in my conversations with the city administrator there have been discussions whether this project move forward like a private Public Partnership like dial drive project and other approaches and i am wonderings if you could talk about that. [inaudible] construction project by the federal highway bridge program. Just to speak to the amendment to the title of the item as well. The original title to the item cited a project combined value for ....
Francisco once the terminal of certificate is ended. With that i am happy to answer any questions. We know the commercial paper thank you to the board for extending that and increasing the amount. Its good to have that opportunity so that key with continue to lead on the project. Thank you. Colleagues any questions . We dont have a budget Analyst Report for either item . [inaudible] from the port. Do you want to come up and speak . You have been waiting here. Good afternoon supervisors. Elaine from the port. We are appreciative that the city agreed to use this with the project and we we the city has a higher Credit Rating and this say win for us and we are thankful and you previously approved the issuance and as described this is the documents and et cetera to allow for the sale of the projects to take out the commercial paper. Great thank you. We will continue working on that ....
Evaluation used 4 for the entire property. We were thats incorrect because part of the property is Owner Occupied so we applied the 4 risk rate to the Owner Occupied portion of the rate and 2 for the non Owner Occupied portion of the property. This resulted in evaluation being adjusted to. 29 95. And the second handout is the revised summary page. The three prong test as you can see and the current assessed value is listed here and result in taxes of approximately 19,000. Based upon the three prong test the lower of the values, the restricted value, which is 1. 1 million, and the factory facta value and 2 million and the value should be as listed here and results in tax savings of approximately 6,000 and i am here to answer any questions you may have. Thank you. Colleagues do we have any questions . Thank you very much. ....
The buchanan street. From that market rent we subtracted and allowable vacancy and collection loss. We subtracted some operating expenses that should be allowed for the property to approve at the net income. The change was made in the risk factor. For over occupied buildings its 4 . For all other property types the risk factor is 2 . Our initial evaluation used 4 for the entire property. We were thats incorrect because part of the property is Owner Occupied so we applied the 4 risk rate to the Owner Occupied portion of the rate and 2 for the non Owner Occupied portion of the property. This resulted in evaluation being adjusted to. 29 95. And the second handout is the revised summary page. The three prong test as you can see and the current assessed value is listed here and result in taxes of approximately 19,000. Based u ....