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Im happy to take questions if you have them. Thank you. Supervisor kim, did you have a question . Thank you. Why dont we go to the budget analyst report. Mr. Rose. If i can ask you to go to the poem. Madam chair, members of the committee, we have a conclusion and report on page 18 where we state the proposed development appears 3032 and seawall lot 10, including rehabilitation of the property at pier 30, 32, multipurpose arena for Golden State Warrior games and events. Public open space. Maritime use, retail and related parking. Development on seawall lot 330 of Residential Hotel and retail use and 53. 8 million. Direct ongoing annual financial benefits between 9. 8 million and slightly over ten million. Undetermined indirect benefits from grocery receipts tax revenue up to 120 million as you have heard capped in private expenditures, rehabilitation of 3032, reimburs ....
I appreciate that commitment, thank you. Thank you. If there are no questions open the item up for Public Comment. Im going to be calling from stack of speak of speaker cards. When you hear your name line up against the wall. Each person will be given two minutes. For those who have finished speaking if i ask you to perhaps leave the room and go to overflow to allow for another members of the public to come in and speak, that would be wonderful. Why dont we begin. Here are the namesly be calling. Karl jones. Huey lu. Rachel w, manual hernandez, eddie james, karen woods, ron miguel, jeffrey leibowitz. If you hear your name line up. I will ask the first speaker to come up. Hello, good afternoon. Karl jones come on behalf of seasoned Ticket Holders for the Golden State Warriors. We question that you look at the proje ....
Conclusion and report on page 18 where we state the proposed development appears 3032 and seawall lot 10, including rehabilitation of the property at pier 30, 32, multipurpose arena for Golden State Warrior games and events. Public open space. Maritime use, retail and related parking. Development on seawall lot 330 of Residential Hotel and retail use and accessory parking. We provide estimated fiscal impacts including onetime benefits of the city up to 53. 8 million. Direct ongoing annual financial benefits between 9. 8 million and slightly over ten million. Undetermined indirect benefits from grocery receipts tax revenue up to 120 million as you have heard capped in private expenditures, rehabilitation of 3032, reimbursement by port of those private construction expenditures. For use of 66 years of credits for pier 3032, valued at 1,970,000 per year. You also heard ....
Uses at arena. But the warriors wont be able to finance and wont have any desire to build an arena that is not that does not make economic sense for them. The ability their willingness to build an arena is dependent on having that arena be a viable economic engine in order to recoup the billion dollars that it is going to cost to build that facility. So i think obviously we will be providing more detailed information to the budget analyst and to the decisionmakers and cf ac in months to come. The reinforcing mechanism, the warrior also not invest a billion in something that isnt going to yield the Economic Activity that justifis that. Thank you. Supervisor kym . I want to ask you to come up again. Given kind of a lot of concerns i raised in the neighborhood around the speed which this process is going, i get it with the fiscal feasibility. This initiates the process. The board is asking if this is fiscally feasible. The substan ....
That was my exact testimony. It will take a big idea with lots of benefits. As i was listening to ms. Mathiss presentation, i was thinking this will Hurt Partners in oakland. It is challenging for all of us, but one im hoping we can take advantage of of the waterfront and keep this as economically viable as possible. Those are the thoughts. Im happy to take questions if you have them. Thank you. Supervisor kim, did you have a question . Thank you. Why dont we go to the budget analyst report. Mr. Rose. If i can ask you to go to the poem. Madam chair, members of the committee, we have a conclusion and report on page 18 where we state the proposed development appears 3032 and seawall lot 10, including rehabilitation of the property at pier 30, 32, multipurpose arena for Golden State Warrior games and events. Public open space. Maritime use, retail and related parking. Devel ....