Sfgtv meeting of the budget and finance subcommitteeoccurring july 8, 2015 will begin shortly. [gavel] good morning everybody welcome to the San Francisco board of supervisors budget and finance subcommittee for wednesday, july 8 good morning everybody welcome to the San Francisco board of supervisors budget and finance subcommittee for wednesday, july 8, 2050. My name is mark r mark am sharing this management by Committee Vice chair kiddie payments and malik and john oliver. I want to thank the members of sfgtv covering this meeting as well as the clerk of the many window wanted any announcements please sounds electronic devices. Items acted on the july 14 board of supervisors agenda thank you. Please call item number one item number one providing certain special elections to be held in the city on november 3, 2015 for the purpose of committing to voters a proposition to incur bonds to the city not to exceed 310 million to finance the construction acquisition improvement week rotation
Coalition is interested in bringing that first discussing it with the chief and the command staff and having a presentation so i hopefully it will make a time for them on our schedule. Yes. Thank you Vice President and lastly i represented the commission in the voting on the metal of valor and participated in the Commission Role that will be brought to us chief i dont know if you know what that comes here for final approval. Ill found out and ask for them. Okay. This sound great any further on this matter. Sergeant call the next item. Commission announcement and items considered for identification and possible action at further meetings. I have one the csi team august 5th is the time were longing to schedule them before they go back to school before their final presentation so sergeant if we can hold august 6th i think is a wednesday whatever wednesday in august item we scheduled and were working with our partners in the community is the update i dont know from the department is ready
Dont have this access theyll have to go to Treasure Island that deadhead costs 20 minutes thats thousands of dollars. Okay. It is the same with amtrak and we didnt get a cost from them. And then the timeframe or the target for youre next steps and phillip can talk to that. Okay. So as far as timelines 95 percent we should have that ready in the next month or so mou with tjpa weve been talking with ac transit i think discussions are still going on in terms of agreeing it the mou costs and the big item is finalizing the caltrain lease theres discussions about what the lease rate ought to be i think those issues are ongoing with caltrain. Does ac transit have money. So, yeah in the presentation i mentioned weve done some calculations and deadhead costs well save up to 49 buses that will save the bs f. I dont hear youll commit to that financial obligation. Yes. You anticipate both the second and third items being done within this year. It will have to be done before we stack this to the bo
Schedule. Yes. Thank you Vice President and lastly i represented the commission in the voting on the metal of valor and participated in the Commission Role that will be brought to us chief i dont know if you know what that comes here for final approval. Ill found out and ask for them. Okay. This sound great any further on this matter. Sergeant call the next item. Commission announcement and items considered for identification and possible action at further meetings. I have one the csi team august 5th is the time were longing to schedule them before they go back to school before their final presentation so sergeant if we can hold august 6th i think is a wednesday whatever wednesday in august item we scheduled and were working with our partners in the community is the update i dont know from the department is ready but well do that at some point in august the update on the d go 6. 09 commissioner hwang no items to put on the agenda. Commissioner to remind the public the commission will m
Were off to the races now. Heres whats happening before the bell. Quarterly results from jp morgan and wells fargo. The economy also front and center and topping todays calendar Weekly Mortgage applications. Import and export prices. Business inventory and the feds beige book plus we have a little bit of focus overseas on the ecb. Top European Court giving a green light to a Bond Buying Program and thats heading out to speculation that well see more stimulus out of the euro zone when they meet next week. Take a look at futures at this house. The dow not so great. Dow looks like it would open down about 57 points down. Nasdaq would open down about 11 points down and the s p 500 would open down off about 6 points. Check out what could be the chart of the morning. Something we dont mention that frequently perhaps. Maybe we should mention more copper because it is a weather for Global Economic activity. Prices plunging to the lower level in half a decade. Prices down as much as 8 at one po