So, im very excited to introduce our next panel. Its all about the labor market. We have two great panelists. The first we will hear from kostya, a principal economist in prices and wages section in the division of research and statistics at the Federal Reserve board. To provide context, thats the section responsible for preparing the forecast of inflation and prices for the fomc. I have to admit that katia and i were long time colleagues. I want to assure any lawyers here none of our conversation should constitute my making a request of katia, the Federal Reserve system or fomc. Our second panelist is jared bernstein, a senior panel at the budget on policy and been active many years in the labor market and inequality and policy both in the Obama Administration and in various think tanks in d. C. And you can read more about his thoughts on the economy. I will turn the presentation over. Thank you very much, stephanie. Its a pleasure to be here. How do i thank you. Okay. So, in the spir
Its not a plugin issue. Okay, thats a relief. [off mic] apparently its a signal from there. Because we can show the whole room, but we just cannot show the powerpoint. [off mic] it looks like we are back in business. I apologize, commissioners and members of the public for the delay. David please take the way. Thank you elaine. Commissioners, president brandon im with real estate and development, here seeking authorization for the request to proposals for the south beach historic piers 38 and 40. A quick outline of the presentation ill be going through this afternoon, including how this aligns with the strategic applan, a little bit about the background the Development Context the input we received, the minimum qualifications scoring criteria, collection panel, review and Selection Process and then the economic benefits to the port and next steps. So the rerelease and Successful Development to the piers 38 and 40 project will touch on five of the ports strategic objectives including pr
Do. [laughter] its not a plugin issue. Okay, thats a relief. [off mic] apparently its a signal from there. Because we can show the whole room, but we just cannot show the powerpoint. [off mic] it looks like we are back in business. I apologize, commissioners and members of the public for the delay. David please take the way. Thank you elaine. Commissioners, president brandon im with real estate and development, here seeking authorization for the request to proposals for the south beach historic piers 38 and 40. A quick outline of the presentation ill be going through this afternoon, including how this aligns with the strategic applan, a little bit about the background the Development Context the input we received, the minimum qualifications scoring criteria, collection panel, review and Selection Process and then the economic benefits to the port and next steps. So the rerelease and Successful Development to the piers 38 and 40 project will touch on five of the ports strategic objectiv
Imagining this project. As you recall we had a request for interest, we had 52 responses from publiclyoriented uses. We were just talking about what are the kinds of things that bring people into the piers. And that brought us to a realization that there are a lot of publiclyoriented uses that need to be paired with revenuegenerating uses to have a feasible project. Our concern with not having minimum qualifications to show that someone can raise money construct a project of some value and attain of some value is a panel will say we love this publicoriented use so much and this operator has experience in that publiclyoriented use, we are going to score them high even though we dont know if they are going to feasibly produce this project. So pairing someone with that expertise, we could be confident that what comes out of the scoring process will be someone that can deliver a successful project. Exactly. What happens if you have two contractors that each do a 20 million job . Does that
They wont pencil out. Thats something we can do in the preliminary phase. I think this rfp is very different from the last one because the last one was only the bulkhead. This one is for the entire pier. And obviously the costs are very different today than what we looked at in 2012. So thats going to also put a different sort of qualifier on here as well. So i just think that i think commissioner brandon probably has the most experience in dealing with complex rfps because shes been on the commission the longest and seen whats been successful and not. But in my process, i think the scoring criteria is fine, and i think the waiting is appropriate, and the oral, i think the oral to me is not just being able to articulate well, its also a question of developing i guess the intangible factor the trust factor, the factors of how we are going to work with this developer that are intangible that come through in terms of the oral interview that perhaps somebody can talk well but do we trust t