Page 23 - Disposition Development News Today

Disallows appearance before us by a in this case a former commissioner for a period of two years. My understanding is that the citys program or the citys policy, similar policy a one year revolving door limitation and i would like us to look into we will i mean, i support this resolution, but i think id like to see us line up, you know, our revolving door policy essentially with the citys. I think its as bit draconian to have a two year prohibition, so thats something we can put on for another m...

What are the key risk items, and you may have said this, and just articulate again, the risk items of being able to do that . And in the probability and then in the second piece is, if you are not able to do that, and you go and you go to the full extent until you have to have the tax increment financing, what is that, what is that equate to in terms of what the budget can absorb and what additional funding would be needed . Sure, i will address your first question, first, about the risk. And so...

At that time, and early 2015, we have the cash flow needs and we need to certify the contracts and keep the project moving on schedule to maintain our schedule and we did as many as you know, did request from tifia has far back as 2012, that we be able to draw down on the loan earlier, and perhaps, in proportion to the amount of land sales that already had been achieved after months of discussions, they were not able to accommodate that request. But they did agree to amend the loans to allow us ...

Is also the success or agency in matters represented to the affordable housing, with that on, they have to approve the amendment to the option agreement as well as the subornation of the option that they will be entering into. And those have, been introduced, and i have a schedule on the next slide, but we anticipate that the board will be approving those actions, and at their december 9th meeting. And then, a ocii over site board will have to also, approve the items, and immediately upon the oc...

Have the tax increment financing, what is that, what is that equate to in terms of what the budget can absorb and what additional funding would be needed . Sure, i will address your first question, first, about the risk. And so the risk of not being able to pay back is the risk to not be able to draw down on tifia and not areceived, 429 million in land sales which will mean that block 8 or five had not closed as a mentioned things happen and the land scale dates do get closed out from time it ti...

Budget could absorb that. And so my first question is, what are the key risk items, and you may have said this, and just articulate again, the risk items of being able to do that . And in the probability and then in the second piece is, if you are not able to do that, and you go and you go to the full extent until you have to have the tax increment financing, what is that, what is that equate to in terms of what the budget can absorb and what additional funding would be needed . Sure, i will add...

Are looking at early 2019 before there is a possibility of a payment default. And as a mentioned before that, before we got to that point, we would have undertaken the process, issue a tax increment and that will return to the bridge financing before returning to the bridge collateral. And so the remaining actions to close, and mtc does have to finalize the approval of the quick claim amendment and as i mentioned that will and should occur next week. The oci, and the city, and the board of super...

Okay, so now to business more business i should say please call the next item. Items 5g and h will be presented together, but acted on separately. Item 5g, authorizing a Loan Agreement with mercy housing a California Limited Partnership in an amount of 3,382,000 for Affordable Housing units at 222 beale street on transbay block 7 pursuant to the California Environmental quality act. And item 5h, approving a revision to the transbay block 7 Schematic Design package originally approved by the comm...

Joined by courtney, the transbay assistant project manager. Good afternoon. Im elizabeth, Development Specialist and im here with those two requests today. I did want to mention that in the rezs theres a change. Now back to the project. The project will be an affordable 85 unit family project and will include a child care facility and open space. This project is part of a larger master Block Development in the transbay redevelopment area. The transbay redevelopment project area was adopted in 20...

7 pursuant to the California Environmental quality act. And item 5h, approving a revision to the transbay block 7 Schematic Design package originally approved by the commission on april 16, 2013, to reorganize some of the ground floor uses to create building efficiencies and increase from 77 to 85 units and making environmental findings pursuant to the California Environmental quality act, trab redevelopment project area, discussion and action, resolution number 712014. Madam director. Thank you...