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The proposed funding, the city will reimburse warriors for improvements to infrastructure capped at 120 million. Funds are restricted to three sources we have discussed. Proposed operations and maintenance, we have reached out to city departments. The police funded the cost estimates are to be determined. We will be in the cost will be associated with calls for service during events and non events. Responses to illegal vendors and such. Fire anticipates no direct fiscal impact from the project. Number of staff and hours worked will not change as a result of this development. As mentioned by chief lombardi the San Francisco department may contract with warriors for emergency services. Certainly if they are colocated, that makes sense. No impact to the project as Golden State Warrior also pay to maintain open space they create. For dpw and mta we are currently working with ....
New website. This hour, the president joined those exclusively. Adam music legend bob marleys son. A good drinking cup of coffee. Lori moving toward session highs. Lets head down to Nicole Petallides. Nicole looking forward to that interview. The Dow Jones Industrials are up right now by about 72 points. People are taking a little bit of a breather. The first day, october 1, was actually the first day of a new month. New money comes into the market. The rest of us drifting to the downside. Any headlines from washington could be market moving. Lets look at walmart. Walmart saying exactly that. They are seeing softer sales because of the federal employees that are not shopping much right now. Back to you. Lori thank you. Little progress in the debate in washington over the Government Shutdown. Rich president ....
To what we would owe 13 interest on . That is right. We are attempting to have that remaining number of 30 million be something taken out early. If we can negotiate a value for the 66year lease at net present value where you look at annual increases, look at what a reset would be, calculate the present value of those that rent stream today and give a credit, that would take out the reminder. Okay. That is actually something i want to show. Right. In the report it said even if you could not do that, that what remained was the 29. 6 million, that is 13 annual rate on the 29. 6 million is 3. 8 million. That would exceed estimated annual Fair Market Rent of 1. 9 million. In that case because they have exhausted the three buckets that would be what the city would be committed to giving. Nothing beyond that. I think thats been one of misconceptions. If warriors have rate of return and more owed, whether because they exceed the 120 mil ....
Is giving cash or loan of money or some sort of guaranteed repayment or return. That is not true. What i have been trying to articulate is regardless of the cost of the repair, the reimbursement to warriors is capped at 120 million from three sources we have just discussed. Our current estimate of the value of these three sources is less than 120 million. The port really has a liability in the pier substructure, in piers 3032 in form of crumbling pier. Warriors have agreed to repair it with their money at their risk. What it means is under the current proposal, warriors do not get a return of their investment based on our current estimates of the value of these three sources. Nevermind a return on their investment. If i can have the overhead. Thank you. Not that one. The light one. This is a Pretty Simple worksheet that we work with our consultants eps to present that really looks at the qualified cost and sources for reimbursement ....