Madam secretary, please call the first item. Thank you. First order of business is item one, roll call. Commission members please respond when i call your name. [roll call taken] all members of the commission are present. The next order of business is item two, announcements. Next regularly scheduled meeting held on february 6, 2018, at 1 00 p. M. At city hall room 416. B, announcement of prohibition of sound producing Electronic Devices during the meeting. Please be advised the ringing of and use of cell phones, pagers and similar sound producing Electronic Devices are prohibited at this meeting. Adviced the chair may order removal from the meeting of any persons responsible for ringing of or use of a cell phone, pager or other similar sound producing Electronic Devices. C, announcement of time allotment for Public Comments. Advised a member of the public has up to three minutes to make pertinent Public Comments unless the Commission Adopts a shorter period on any item. Strongly recommended members of the public fill out a speaker card and submit the completed card to the secretary. Next order of business, item three. Report on actions taken at a previous closed session meeting, if any. No reportable actions. Item four, matters of unfinished business. No matters of unfinished business. Next order of business, five, consent and regular agenda items. First consent agenda, 5a, approval of minutes. December 5, 2017. Madam chair. Any speaker cards for this item . No, madam chair, there are no speaker cards. Since there is no request to speak on the item, i will close Public Comments. I will now turn to my Commission Members for comments or questions. Do i have a motion . So moved. Second. Moved by commissioner bustos, seconded by commissioner singh. Please call the roll call. Commission members announce your call when i call your name. [roll call vote] vote is four aye. Thank you, please call the next item. Motion carries. Yes. Please call the next item. Next order of business, regular agenda, 5b. Election of chair and vice chair. Discussion and action. Madam chair. Fellow commissioners, we have before us election of chair and vice chair. First elect the chair. Nominations for chair . Madam, i would like to nominate marily mondejar as chair. Thank you. Commissioner bustos. I second that. Commissioner singh, any other nominations . I accept the nomination of chair. Thank you. Are there any members of the public who would like to make comment on the nomination for chair . Ok. Hearing none, Public Comment is closed. Any opposition . Or abstentian . Hearing none, madam secretary, please call the roll for chair. Commission members announce your vote what i call your name. [roll call vote] madam chair, four ayes. Elected chair of the commission is myself, marily mondejar. Now elect the vice chair. Do i have any nominations for vice chair . I move bustos. Ok. Nomination for Miguel Bustos as vice chair. I second. Commissioner rosales seconds the nomination. Any other nomination for vice chair . Hearing none, the nomination for vice chair is closed. Any members of the public who would like to comment on the nomination for vice chair . Hearing none, the Public Comment is closed. Any opposition or abstentian . [roll call vote] madam chair, four aye. Elected vice chair of the commission. Congratulations. Thank you, commissioner singh. Vice chair bustos. Thank you, everyone. Madam secretary, next item. Next order of business, agenda item 5c, workshop on the recognized obligation payment schedule for july 1, 2018, through june 30, 2019, discussion, madam Deputy Director. Thank you, madam secretary. Commissioners, it is that time of year again when we take the steps necessary to submit a recognized obligation payment schedule to the California Department of finance. We will be seeking Oversight Board approval later this month but we would like to give you an overview of what we anticipate our spending to be for fiscal year 1819, and so Deputy Director for finance administration will provide you with a presentation that will involve the staff you see before you today. Good afternoon, commissioners. My name is prima horreder, the Deputy Director for finance and administration, and we are here to talk about the rops for 1819. Since we only do it once a year, its a Good Opportunity to go over the origin and the general schedule and what the Funding Sources are. Required successor have an obligation schedule, and laymans language, a list of obligations we need to make and Funding Source for the fiscal year 1819. Signed by the governor in the fall of 2016 made some changing, rather than than biannual, now annual. We do have the opportunity to amend it one time a year, that opportunity comes in the fall. Commit the amendment on october 2nd. And what that does, because of the schedule we are starting now a month or two in advance of the budget cycle, so as other departments refine their budgets and keep us informed of those changes and how those will impact service, anything that changes the largest outside envelope what the budget could be, as we move closer and closer to the budget, we use information from other City Departments to hone it down a little tighter and then any, those changes are then later reflected in a rops amendment that is submitted to the department of finance on october 2nd. So, the schedule where we have been so far is on january 8th, we held a workshop with the Oversight Board where we did not get any substantive comments, so we are presenting to you today the same rops we presented to the Oversight Board. Well take your feedback today, incorporate it into the rops and then well submit the rops to the Oversight Board for action on january 22nd, and then pending Oversight Board approval, well submit it to the d. O. F. On february 1st. So, the organization of the rops, its a long, long list of lines that starts with our administrative and agencywide obligations moves on to our nonhousing obligations by project area, then the housing obligations by project area, rincon south beach, South Beach Harbor and bonds by project area. End of the rops we add on new items. So as new items get added on to the bottom, because of the foremat of the document, we are not able to renumber them, so they dont get integrated into the original structure. New items added on as they come up. The Funding Sources are bond proceeds, that will be the Funding Source to the far left of the document, its the first Funding Source and that includes both bonds that have already been approved and any bonds we and anticipate in the next year. And either on reserve, balances, Due Diligence reserve balances, which we have none. Other is developer payments and grants, our primary source of other is developer payments which are developer reimbursements on their behalf and we have a small number of grants. And property tax that we use to fund any of our enforceable d. O. F. Enforceable approved obligation and rttpf addmin is the amount of property tax we are allowed to use by law to administer the agency. So, as you recall, the amount of property tax that we are able to use to fund the agency is limited by law to 3 of the prior years nonadman distribution, less the savings from two years prior, identified in a prior period adjustment. So, what that really means kind of in laymans terms, every year we look at the amount of rops, the amount of property tax we requested and then line by line at the amount of property tax we expended and then look at any differences. Those differences we hold on to rather than returning to the city, and they are debited off our next rttpf request. The thinking being, if you are requesting, say, 10 million and you have 3 million in hand, then you only need 7 million additional to get you back to the ten that you need. So, and then its 3 of that amount that we can use for administration. So its a very strictly regulated amount and to stay within it we really have to be good stewards of the property tax dollar. And we can go into greater detail how we will use it in 1819. So as you can see from the presentation, the primary source of funding for our 508. 1 million rops is bond proceeds and that makes a lot of sense. Because our biggest expenditure in infrastructure reimbursements, which are funded by bond proceeds and Affordable Housing loans, also funded by bond proceeds. The second largest Revenue Source is nonadmin, but significantly lower than bond proceeds. And that number has been declining over time which you will see later in the presentation, and the primary are after Affordable Housing and infrastructure reimbursement, the second biggest expense is debt service, so again, it makes a lot of sense rttpf admin the greatest second source. Moving on to expenditure in greater detail, you can see that our largest expense is Affordable Housing loans, in 1819, that is really exciting, means a lot of Affordable Housing going up in our three major project areas. You can also see, if you look at the bottom right of the pie chart, there is a yellow pie and a purple pie, which indicate, which together are our total debt service. The yellowy green pie slice is infrastructure debt and the purple slice is housing debt. If you put those two slices together, its our total debt. And the reason that i want to call that out is because the purple wedge represents the amount of debt service that we use to pay our housing bonds, and so if you, and because we issue those bonds to generate proceeds to spend on Affordable Housing loans, i think that as an Affordable Housing expenditure. So, if you want to know the total amount of our budget that we are spending on Affordable Housing, its the 39 thats being directly expended in loans and the 12 that is being spent on housing debt. So, that puts us above 50 , which i think is really exciting. I dont think any other agency in the city can say they spend more than 50 of the budget on generating Affordable Housing. To me thats a significant number. Now go into greater detail on each of the project areas and to talk about the work done in Shipyard Candlestick point, we have tamsin. Thank you, senior project manager for hunter, shipyard and Candlestick Point. Mostly in terms of the shipyard and candlestick, the inner Agency Cooperation agreement memorandums of understanding with the other departments, so staff time really spent by department of public works, p. U. C. , etc. , in reviewing the Development Programs on the shipyard, in terms of the actual permits for infrastructure that constructed. To dig deeper, we are looking at completing on opening the public parks in shipyard phase one, and thats our disposition and Development Agreement with lenar as opposed to shipyard phase two, d. D. A. With five points. So, moving on to phase two in candlestick, planning and Building Infrastructure on the second phase of the shipyard, as well as building and planning and completing infrastructure on candlestick, which is exciting. Most of the work is there to support the rebuilding of alice griffith. We are also going to be approving the vertical development designs on shipyard phase one as well as on Candlestick Point, continuing to ex pend those federal grants that we have, and we have an obligation to seek outside funding to plant and support the development and investment that our Master Developers have, this is an instance of that. Its a federal grant with the e. D. A. And we are required to contribute a local match, thats the projects only pull from rttpf. And of course we will implement and monitor both phases Community Benefits agreements. So, as i said, almost everything that we do in terms of the work program of me and my team is developer reimbursed, so those come from other funds, so thats the 21 million that you see here, and again, the rttpf nonadmin is the local match for the federal grant we have. This does not include the projects contribution toward Affordable Housing, jeff white will cover in his portion of the presentation. Im available for questions, but ill pass it off to mark to review mission bay program. Good afternoon, project manager for mission bay. Major expense thats incurring from the rops lines is reimbursing fossil m. B. For the work they are doing mission bay, thats the master developer. The work they will do predominant predominantly, 1819, theyll finish up that work. One sliver on king street that theyll be wrapping up and done with all streets in mission bay north and south. Also doing mission bay, bayfront park, 5. 5 acre park that will be just to the east of the arena. And then along the channel there is three different parts, p2, p3, and p8, that will be the majority of the expenditures happening in 1819. Also will be implementing the art program, some developers choose to fee out rather than Building Public art on their own open space, so more than likely building that on the bayfront park, one more developer may fee out, so maybe a couple different art pieces. And finally, obtaining professional services, Harrison Associates is the one who reviews all the work that fossil m. B. Does and approves it, as well as Administrative Expenses to cover staff costs. And how it breaks out, work for the bond proceeds going to do all the infrastructure work with the sliver for the admin and the other funds, which is the arts programs and the Harrison Associates. Here and available for questions at the end, but now shane hartz. Good afternoon, commissioners. My name is shane hart, project manager for transbay. You can see from the slide we have a very busy year planned in transbay. We will begin the construction of the folsom street improvement project, anticipate completing and bidding out underramp park, provide Community Outreach and complete the design of transbay park. Anticipate construction of blocks 5, 8 and 9, and following up to the construction reimburse certain developers for streetscape work. We plan to negotiate the block four dda and complete design. You can see from this slide that the bulk of the transbay funding is bonds, and then if you see the other category, thats primarily developer reimbursements, and then park fees that we get from developers. With that, im going to introduce elizabeth, and shell come up and talk about Affordable Housing. Good afternoon, commissioner. Senior development specialist. This pie chart shows a snapshot of Affordable Housing uses of funds. Contributes to the mayors goal of 10,000 affordable units by 2020. The 126 million you see in the shipyard and Candlestick Point are primarily construction for 10a and 11a, and mission bay, primary use for south 6 west. And this shows the primary source for Affordable Housing as mentioned earlier is bond proceeds. These slides show fund el requested in the rops fiscal year 1819. You can see the funding moves forward 542 units in the shipyard and Candlestick Point. And 377 units in mission bay. Transbay, 247 units, but dont forget also that we have four projects that are well underway in construction in transbay. This slide gives you a visual to see by project area, the status of our Affordable Housing program. We completed our obligations in project areas other than our three primary Major Development projects, and in mission bay, the larger amount of blue reflects that we have completed our housing obligations and all of mission bay north and two projects in mission bay south, and you can see that we are just kind of Getting Started in the shipyard and Candlestick Point. And with that, ill turn it over to hildy to discuss asset management. Good afternoon, commissioner. Development services manager. And the Development Services manager, or the division is responsible for providing Technical Services to the major project areas. In addition, work Program Includes managing the obligations in all the other major or non, i wont call them nonmajor, the other project areas that you see here. And in terms of the coming year, well be focussing on continuing the implementation of the long range Proper