Moved seeing all in favor, say i. I. Opposed . That motion carries general Public Comment i dont have i new general Public Comment is there on any Communications Commissioners any questions or comments. None are there any questions or comments from the public on communications . Seeing none, thank you 0 the commission business. There is 0 none moving report of general manager mr. Kelly. My first update on the drought steve richie. Thank you steve richie assistant general manager for water slides please. Begin the standard chart where we are in storage hetch hetchy is 73 percent of capacity and water bank a third of its capacity at one and 90 thousand and get approved acre and water bank from the water bank a pretty good year Lake Elsinore is down it not a typo substantially for a construction project to modify values values for the dam the precipitation a new water year started october 1st a new red line off thegraphy as you can see were ahead of the curve this time maybe that will con
I tell you what, we been, and we are going to call one through three, together. Item one, resolution approving the awards of Hotel Management, and approximately, 20 million relating to onAirport Hotel at the San Francisco International Airport item to, resolution approving the issuance of up to 243 million, aggregate Principal Amount of air force commission, capitol plan bonds and 225 million, and item four appropriate ating, 473 million, consisting of 243 million, from the proceeds of the airport capitol plan bonds and 450,000 from fund balance, and 230 million of proceeds from Hotel Special facility Revenue Bonds and other long term financing source to develop a hotel within the San Francisco International Airport. Okay. We want to recuse super visor farrell without objection. Do we have someone from the airport that would like to speak to the items 1 to three . Supervisors, airport director, sfo and i am very pleased to bring this item before you today. Something that i waited a lon
Through three, together. Item one, resolution approving the awards of Hotel Management, and approximately, 20 million relating to onAirport Hotel at the San Francisco International Airport item to, resolution approving the issuance of up to 243 million, aggregate Principal Amount of air force commission, capitol plan bonds and 225 million, and item four appropriate ating, 473 million, consisting of 243 million, from the proceeds of the airport capitol plan bonds and 450,000 from fund balance, and 230 million of proceeds from Hotel Special facility Revenue Bonds and other long term financing source to develop a hotel within the San Francisco International Airport. Okay. We want to recuse super visor farrell without objection. Do we have someone from the airport that would like to speak to the items 1 to three . Supervisors, airport director, sfo and i am very pleased to bring this item before you today. Something that i waited a long time to do to finally build a First Class Hotel and a
With my staff. If you like, you can come up to the mic and speak to that. This is our Hotel Project manager for the airport commission. And good morning. And the competitive set around the airport, the hotels, are averaging approximately 80 percent at 165 dollars. Is that what you are asking for . Yes, in the surrounding areas and that is a pretty steady trend in terms of all of the hotels around the airport . Yeah, this is for the full service hotels. Correct. And we have done, a great deal of analysis. And we have gone back 25 years. To see kind of the trend of occupancy. And it has gone up and down and over the last 20 years, the average occupancy has been about 75 percent. And the average growth rate, in the average daily room rate has been about 3 percent, which we have modeled Going Forward and just to give you a sense of the delta between what the grand hyatt is projected to do, verses say, the Hyatt Regency San Francisco airport. These were done by our hospitality consultant. A
We want to recuse super visor farrell without objection. Do we have someone from the airport that would like to speak to the items 1 to three . Supervisors, airport director, sfo and i am very pleased to bring this item before you today. Something that i waited a long time to do to finally build a First Class Hotel and airport property and something that the world class airport should have. So the items before you today, three items, the first approves the Hotel Management agreement, with the Hyatt Corporation and adopts the findings, and item two, approves the issuance of 243 million in airport capitol bonds, and 225 million in special, facility bonds and item 3, appropriate ates the bond, proceeds to pay for the Hotel Project. We are proposed the hotel, Management Agreement is for a planned, 350 room, four diamond, aaa rated hotel. To be build on airport property in front of the international terminal, on the site of the old hilton. It was torn down in 1998 to make way for a construc