Leadership, in the next two years, maybe three to accelerate this market and get us to the next level of Market Penetration of electric vehicles. One of the areas were focused on right now is the opportunity, what is missing in our policy set one of the things missing in our policy set is trying to figure out how to get infrastructure out there. Here in the bay area, even though we lead in a number of electric vehicles, per capita in the state we are still short of our goal again our state goals, would lead us to have 400,000 electric vehicle, in this bay area a million in the state by 2020. In order to get there, we need more infrastructure, public available infrastructure the problem with the infrastructure is the Business Model, that support the infrastructure, is very tough. We have seen at least one company go bankrupt already, because its a tough Value Proposition to do such. Utilities, with a longer term perspective, they can capture, grid wide electrification, is a key source f
The year, because the certain here is the 2046. The idea is that income and if you add the 10. 7 million the city is committing to pay and you take into account the sinking fund it should be paid at that service, so we are having them prefund the year. And then the Stablization Fund and with the office and the revenue division, they did an analysis showing what in the last decade what the loss has been in terms of the revenue of the loss of the recession and it seemed like the 15 million was an appropriate number to have as a reserve to support the transaction in a term through the event of the revenues that they dont come in as we would expect. So we also negotiated that the city has a discretion to adjust the funds. So you could choose to fund the sunking fund and in the prior years revenuing to any other. But because it is today and we will not be starting until 2017. We wanted that flexibility and so it is laid out that way and it is not set in stone, we still have the option of ch
And the goal is that as we move that portion of that 15 million it gets replenished and so it will be maintained through the term of the cod. In addition, as you know, the term of the district expires in 2045, we are proposing that we sell cops through 2047. Typically when you sell bonds once they are satisfied this could go back to fund the future development and Capital Improvement to the center. So if you look at the cash flows, you will see that the number include the med pairs, we are going to use a combination of commercial paper with certificates of participation being used to take that out and we also are using general Fund Operation in this current fiscal year, aappropriated 1. 7 million and there is a proposal to request an additional in this calendar year. If you look at this and you take into account, current interest, the city would go to market today. The once needed the deficit because the cash flow will be positive. And we could potentially not sell the debt out to 2046
Management plan as to how much of these the budgets would cover from year to year. The funds that ensentivizes what the city and the med is trying to attract is between 8 and 9 percent over the course of the district term. The convention, sales and Marketing Fund is a small portion of the budget, 01 percent and there is also a Capital Improvements and maintenance reserves between one and six percent depending on the year, to fund, once the Capital Improvements are in place to fund the Capitol Improvements and then there is an administration and a reserve to pay the treasure and Tax Collector and the costs of over seing the district. The proposed construction time line for the expansion is between 2015 and 2018. And the assessment district would term out in 2045, after 32 years. And the city will be issuing the bonds and i will let nadia come up and talk about the actual financing and sort of the citys role in the Public Financing and the private financing and how that is used to pay ba
Particular. Okay. Right. Thank you. We believe that we will have much stronger support. We only had one week to collect the petitions and we will have 45 days to collect ballots. We have done it in parts of staoet in zone one and two to communicate with the hotel community. Being that we only had one week to collect the petitions that is why we feel that we did not get as many as we would like. Our goal with the ballots is to have more participation through through the building i like this one better. So the billing and collection, basically, how it works, in the existing and how it would work in the future is a contract with the task collector would be drafted and approved. And that would spell out when the Tax Collector would do in terms of billing and collection and that would be paid actually by the moscone in the district. And that is the intention that the billing would happen through the Tax Collector office and the collection would happen by the treasure and Tax Collector and t