Thank you executive director. And again project manager for the shipyard. Ill give you a brief overlay of this correct presentation ill provide an overview of the shipyard project ill be brief and the major phase application and the vertical disposition or is d da and the schematic designs. So you have a resolution and a memorandum ram for your consideration for the phase for block 52 that includes a report on the schedule performances and schematic designs in a updated vertical designs and for the environmental sequa for short. I wont go over the background the Hunters Point shipyard but id like to introduce the team at this point that prepared the design important the presentation first derrick project manager and danny cook Vice President if you guys would standup please and ones of presenters is al. Thank you al. Ocii staff derrick and pedro pedro is not here but manny please stand and lastly the most important the architects veronica hingingly thank you. This is a woman owned cert
Other benefits program. This is my a apologizes the slides are out of sync. Im going to go to the overhead. So ill begin again for the consideration of public bins the project is taking delipidated land and having new houses and parks and Community Benefit programs so the benefits to the city is clear. Also there is on unusual credit risk by the 3 to 1 phase 1 benefits lane arrest has paid their takes and mainly the hilltop infrastructure is complete will be 3 hundred and 50 units last year and plans probation officer to complete the hillside development. Lastly to the point of unusual credit risk theres none demonstrate by lane arrests great capability theyve expended over 70 million on phase one and posted performance bonds and a guarantee theyve demonstrated a commitment to the overall project. Rewinding to april 1st we began to rephrase the 8 and 9 a m a and for the tax advisors the commission authorized the bond to refund the bonds not to exceed 40 million. That day the commission
Commission. Yeah. No questions okay. So id like to entertain a motion to lets see im sorry commissioner singh. Thank you commissioner singh to the reference to the 21 million in performance bonds are the bonds the city requires for a permit so the bonds are in the custody in the department of public works to be used if the contractor didnt complete the infrastructure. inaudible . And commissioner singh in the 5 million public guarantee for phase one in the agreement and its to be used if the developer defaults if theres outstanding costs. And from the underwriters will address that. Good afternoon currently, the estimated trick or treat is 5. 7 and that could change id stimulating estimate from 5 and a half to 6 percent. Okay. Thank you. Okay. If there are no further questions id like to entertain a motion for the bonds i second. Thank you very much madam secretary call the roll. Commissioner members. Commissioner ellington. Commissioner mondejar. Commissioner singh. Commissioner rosal
Public this is an exciting discussion something that the entire city is proud of so again, thank you very much everyone good afternoon, everyo today is tuesday, july 1, 2014, this is the San Francisco Community Investment Infrastructure Commission id like to call this meeting to order at one 15. Please call roll thank you, madam chair the first order. Commissioner members please record commissioner ellington. Commissioner mondejar. Commissioner singh. Commissioner rosales. Chairperson johnson. All members of the commission are present. The next order of business is announcements a the next meeting will be held on tuesday july 15th at 1 oclock at city hall room 416 and announcement of the prohibition of the please be advised the ringing of and use of cell phones, pagers and similar soundproducing Electronic Devices are prohibited at this meeting. Please be advised that the chair may order the removal from the meeting room responsible for the ringing or use of a cell phone, pager, or oth
Is d da and the schematic designs. So you have a resolution and a memorandum ram for your consideration for the phase for block 52 that includes a report on the schedule performances and schematic designs in a updated vertical designs and for the environmental sequa for short. I wont go over the background the Hunters Point shipyard but id like to introduce the team at this point that prepared the design important the presentation first derrick project manager and danny cook Vice President if you guys would standup please and ones of presenters is al. Thank you al. Ocii staff derrick and pedro pedro is not here but manny please stand and lastly the most important the architects veronica hingingly thank you. This is a woman owned certified business and danny and al will address the commission about the partnership for block 52. Danny. Good afternoon. Executive director and chairperson johnson, Commission Members im danny cook the executive Vice President thats responsible for the vertic