The design will evolve as that takes place. In order to do the fiscal Feasibility Analysis it was important to come up with a broad outline of the proposed business terms for this deal. So the warriors in the city in port work to come up with a conceptual framework. That is not before you today as part of the resolution. I think it is important to take a few minutes to describe the framework that forms the assumption in the feasibility report. The framework says this. The warrior also privately finance all development on piers 30, 32 and seawall lot 30. The city and port will reimburse warriors for agreed upon improvements for cityowned infrastructure. Expenditures for improvement are reimbursable expenditures are capped at 120 million. Funds for reimbursing those are limited to three sources. Let me take each of those three individually. The warriors will privately finance all development. All buildings and improvements, including the multipurpose entertainment venue will be financed
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. Taking out this notion is not an Interest Rate but co
Back on the airplane . 10 days ago we were talking about an ipo and i go away for a week and come back and it its done. We will talk about it in this hour as well. Lex we thought of you. Do you waste the most time on . Candy crash . Checking the weather . It was inspired by the ipo. Tweet us. That is a good one. Here is my answer without question. Check on stocks, bonds, currencies and commodities. Futures up three. 10year yields comes in a little bit. To the next screen. Gold is a big story. 1370 an ounce. Has pulled back nicely. The Australian Dollar continues to get a tough day. Australian dollar a little bit stronger on the back of china news and commodity news as well. Where are we in the equity. Arkets . 1947 inflationadjusted dow. Up we go. A lot of the collation. Here we go again. Is that a bubble . I do not think so. Does not look like a bubble because you have 12 and three. Jeremy grantham with a great interview yesterday. He is a bear but says be in stocks. More money has ma
And welcome to mornings at 2. A quick look at your weather. Its a gloomy start to the day. How about a look from San Francisco across the bay. Weve got plenty of gray out there. If you have some place to be early this morning, you may be met by that. I think well see a burn off once again for most of us across the east bay and areas like oakland a little bit longer. Eventually into the noon hour before we saw more sunshine. 61 degrees right now in oakland. 62 in hayward. Some arriving flights. If you know somebody thats expected to arrive there. As we get into the afternoon, continue your cooldown for today. Slightsly cooler than what he we had yesterday. Below the norm. Mid60s in San Francisco in the afternoon. Looking at 83 for livermore into the south bay, san jose youre checking in at 79 degrees. When the clouds are expected to clear later in morning and into the afternoon and in the extended forecast as early as tomorrow the possibility of thunderstorms. Ill give you details comin
Side of the pier. That allows us to do several things. From an experience of those patrons who will be coming to events there it allows us to enter those patrons on the main con course and go down to their seats, or up to their seats, which will greatly experience the fan experience. One of the other things you see is robust maritime opportunities. Part of the plan proposes to relocate the fire boat station to this site. The three vessels you see on the north side to the left represent the citys fire boat fleet. There is a placeholder on the north and south side of the pier that is envisioned to accommodate water taxi, ferry landings and private craft in the lower righthand corner of the site. We are very excited about having this enter into the review so these ideas can be fully vetted. The design will evolve as that takes place. In order to do the fiscal Feasibility Analysis it was important to come up with a broad outline of the proposed business terms for this deal. So the warriors