With a clean bill of health. And the hats are off to director zabaneh, dennis, ron, the review panels, and of course, the tjpa board of directors, yourselves, and everyone else involved with the review of the Transit Centers safety and the reopening including the mayors office. We appreciate the positive flow of information that began to be provided monday and tuesday, including the metropolitan Transportation Commissions independent Peer Review Panel, and the conclusion by thornton, thomas eddy incorporated that the structural framing is sound and the new Transit Center can be placed back in service. The staff report given by christine walked us through the initial overview of the communication plans which you just heard, which sounds like its right on target with key details and using some of the same effective tactics that worked last summer, including the ambassadors, the email blasts, social media, etc. From a retail perspective, the cac was very pleased very pleased with the commitment of kaiser medical offices to be located in the Transit Center. We feel like there is a growing underlying theme of health and worldness when you consider the fitness club, dental office, medical offices on the second floor and the walking path and yoga type activities on the rooftop and sounds like it will be a destination place for many. We appreciate marthas retail update and projections of when the Transit Center retail space will be fully lease and we appreciate the comprehensive security plans being put into place by sidney security team. And were confident that the security will be appropriate not only for the Transit Center, but also for the surrounding community as well. The cac did have questions regarding the significant cost of insurance from a Capital Budget perspective, but those were eloquently addressed by the chief financial officer, but gosh, those insurance rates are kind of high. From a construction update perspective, and the facts regarding the 47 weld points presented and the cac also appreciated the Additional Information regarding the 175 weld points. During the past eight months plus there has been a couple of requests regarding some type of structural safety monitoring system, and so of course, were pleased to hear that one is being installed. And just to wrap up in closing, the cac is ecstatic that the center is being reopened soon. Hats off to everybody and excited about the clean bill of health and happy that this facility will bring commuters, residents, and visitors of San Francisco and the entire bay area to the area. And we did have a couple of four, five closing thoughts and with the center being closed since last october, questions of clarity continue to be raised regarding who will bear the numerous costs of the closure and repairs stemming from the cracks in the steel plates. And were grateful for the update and the rooftop walking path that we have asked about in the past and sound like this will be a great improvement in repair. We are looking forward to further updates and details from the Peer Review Panels that assess numerous elements. And were looking forward to bus service through the Transit Center including Reliable Service to Treasure Island and the east bay. Lastly, looking forward to progress with the phase two. Thank you for your time. Any board member questions . Thank you for your report. Thank you. All right. Go ahead and call the next item. Yes, please. Item 9 is Public Comment and members of the public to address authorities for matters not on todays calendar. We have not received any notification that the pub have requested to speak. And can move to the consent calendar. Move approval. Second. First and second. The director chang . Director lipkin . Director sesay . Vice mayor ji . And that is seven ayes. The consent calendar is approved. Go ahead and call the first item on the regular calendar. 11 is the presentation by the metropolitan Transportation CommissionPeer Review Panel on the temporary closure of the salesforce Transit Center. Before he starts, i want to thank m. T. C. And stephen wolf for helping with this process. M. T. C. Was invaluable and managed it very well to go to the to get to the point where we are. Executive director at m. T. C. The m. T. C. Appreciates the trust the mayor has put in our assignment, and we put the assignment seriously. We stated we would be expeditious and thorough and stated we have met the goals directly. There is remaining workk to done in terms of completing reports and addressing completely areas of interest they were identified by the Peer Review Panel. These are not necessary to support the j. P. A. Decision the tjpas decision to open the facility. M. T. C. Will follow through with the complete assignment including assisting the Peer Review Panel with providing input to industry. We believe there are several improvements to be made to the various code requirements to help the industry avoid problems like this that have contributed to the closure and affected other significant public work projects in the bay area and across the nation. We have been clear that our assignment does not address culpability and that that requires more thorough and independent review of the contract and the contract administrative efforts that are outside of the assignment. And we are also very supportive of the tjpas team and the contractors using the dispute review process outlined in the contract. For the ultimate resolution of that dispute. Finally, while i wanted to mention that the jpa has reimbursed the mtc for all the costs supporting the panel and the panel, the fhwa and m. T. C. Have provided their support services with no indication or no interest in reimbursement. We think that is part of our assignment and responsibility. And i do as mark mentioned want to thank steven wolf of m. T. C. Staff for his work in managing the work of the j. P. A. Team and the peer review. And he successfully navigated a very difficult path through at least three time zones an kept the progress going smoothly. And for their efforts in getting us to this point, mark provided incredible support and they were really dedicated to the problem and they worked all hours and commuted across the United States several times. And just a reminder that they all have other professional tudyes that are part of their duties that were part of their assignment, but they were extremely helpful and dr. Engleheart has published well in the engineering documents being provided. Thank you, chair nuru, for your support, and with that, i would like to have chair englehardt present his update and we will be available beyond that point. Thank you. Thank you, andy. Good morning, everyone. What i want to do is briefly review what the Peer Review Panel has done to get us to where today and the things that we have left to do before we can answer any questions. Listed on the slide here reason the Peer Review Panel that should be done and successfully completed before the center can be reopened. And with the review of the temporary shoring on fremont and first street. And with the sampling and testing plan that l. P. I. Executed. And the mechanics of the fracture. And that occurred last year that we agree the mechanics and the fourth item was looking at calling it the impact of the adjacent elements. With the time the fractures occurred. To reach the low dynamic effects and is a sudden failure with the thorough analysis and we concurred that there is no Collateral Damage from the fractures. The fifth item is agreeing on the repair strategy with fremont street and i will call it the retrofit for first street. That was all successfully navigated in our panel. We concurred with how that was designed and installed. And another one is time consuming and having looked thoroughly and to look at the Transit Center and the unique conditions at fremont street that led to the fractures and really heard today and many things were looked at and many spots were opened up. And it was a very, very exhaustive process and undertaken by tjpa, and thornton lpi and many discussions on the 47 different elements. And just mentioned the last of those were closed out a few days ago and since then we have been documenting our concurrence. So i am happy to say at this point our panel concurs with tjpa and the as a result that the structure is safe and ready for reuse. So we are quite pleased with the final items and slight documentation and one is l. P. I. Is finalizing the detailed report and the cause of failure and are going back and forth and no disagreement to feel the report should be thoroughly documented and is the key technical record of what happens and what happened here that will allow industry to consider improvements and so were just working with l. P. I. To make sure and another item mentioned today and is the reassessment of fatigue for the steel structure. Another design consideration with the start of the process and that can be done after the center reopens and takes decades to accumulate the final damage. And tjpa and the team will present a plan on how to assess the redesign criteria and the Peer Review Panel will concur or go back and forth until we concur on that plan. And let tjpa and the consultants execute that plan. The last thing is a to provide a report from the pan toll m. T. C. And to the public with the lessons lurned and the recommendations and things we think the industry and code writing committee should be considering to try to reduce the incident in the future. With that i could be glad to answer any questions. Questions from the Board Members . I would like to thank the Peer Review Team for the great work and great insight on this facility and the m. T. C. Also for leading the effort and to learn about the building and quite a few things that we have learn and are putting what is at track and appreciate that. Very much want to echo the thanks on behalf of the entire organization with the dedication and the m. T. C. And your work and very much appreciate how hard you work under the tight time lines and the sheer amount of embassy range of activity represented by the six tasks. Thank you so much, director zabaneh, for making this happen. All right. Go ahead and move to the next item. Adoption of fiscal year 2019 and 2020. Operating budget not to exceed 38,719,021. Good morning. I hope you enjoyed all 21 pages of the staff report and the pages that go along with it. Its great reading and very interesting to all of you. Today i am back to show and update you on the proposed final operating budget. Im sorry. I should have introduced myself. Erin roseman, chief financial officer. I assumed you all knew me, but i am sure there are a few who dont. And from the Capital Budget and the operating budget aseems we will be in full operation on july 1 and that that will be true from the last meeting in pay, a couple of changes to increase the revenue and expenses and i will go through how we got there. In the revenues, a decrease of 152,000 and c. B. D. Park payments with the reduction due to the proposed budget taking it down to their number. But since they have developmented their budget, we found out that theyve added an additional 300,000 that will be able to reimburse the more expenses. So to aprove of the expenses. And additionally we have increased the contribution from operators by total of 486. And that increases due to insurance increase on the expenditure side. All the other revenues remain unchanged, so it was 1 increase from the may draft budget to the proposed final. And in terms of the operation expenses, you can see the corresponding numbers and the revenues and expenses stayed in sync. And the additional 486,000 in insurance. To go to market to get quotes, we were told that the natural disasters and hurricanes, tornados, wildfires, the cost is being passed on in premium to new policies and so that was the main source of the cause. A 48 increase from last year. And 1. 5 million from 1 million. So in response to a question we got last month, you wanted to know about the cash flow. So i modelled a worse Case Scenario cash flow and if the revenues are lower and the timing of payments are slower and expenses are 20 higher. And we still are solvent and can make the money flow work. Awe thank you. Youre welcome. And providing a threeyear operating project. And on this slide, you will see that the bars are revenue and the lines are the orange line is expenses. The blue section of the bar are revenues that are operating revenues. The projection reserve balance and you can see the revenue and expenses match. This is concerning for some and the operators increases significantly so that shift and drawing down the up front neighboring rights. So in 1920 and and the contract and picks up back up in 2022. That is the measure major shift in revenue distribution there. And notice that 2021 the total revenue and expenses will decrease a touch and that is due to the leasing commissions up front payment and done in 1920 and so that expense goes down. The red line is what. And the financial policy and the goal for reserves. And you can see how it compares to the yellow section. So for the Capital Budget, our Capital Budget assumes phase two is fully funded. And theres only one modification for the 1920 Capital Budget, and its weve gone up a Million Dollars from 99 million overall to 100 million. And that is the revenue has been increased in the cfd bonds from 62 million up to 63 million. And heres a more detailed itemization of the revenues that we expect for the capital. And in terms of expenses, the extra Million Dollars is shown in Construction Management and where it went from 2. 2 to 3. 2, but still a small percentage increase of the overall Capital Budget. And to kind of refamiliarize you with the expenses in capital, there is tjpa admin, salary benefits, professional Services Including legal and Financial Advisors and legislation and such. And professional services geared towards the construction part. And so we have pmpc, the downtown extension. And the Construction Management cost and the Administrative Task and closing out the phase one. And finishing the punch list and getting us through december of this year. And a little bit of a contract extension for them to get us through the final closeout of phase one. And then the construction of 64 million and the majority of that is the still the final close out and then the improvements. And were requesting 31. 2 million draw with the program we serve. And the reserve and if the requests are approved. And there was a table that shows you where the Program Draws are immediated in comparison to the budget. And then a history of all the Program Reserve draws that we have had so far. And are there any questions . Director reiskin . I did read the report and largely enjoyed it with a few exceptions. Of course. One was i share the cacs dismay with the insurance jump. It is nearly a 50 increase which i guess not surprised were experiencing some of the same, but that is unfortunate. With regard to the discussion that we had last time about use of reserved and contingency and thank you for addressing that and the report. I still think that the logic of what or my logic still holds in terms of matching the amount of contingency with the amount of reserve on the revenue and expenditure side. I saw that the cfd revenues and the insurance is what it is. And cars with regard to rm3 revenues. And so what i would recommend is that we reduce the amount of contingency on the expenditure side down to the amount of reserve we are using on the operating side. Were proposing 3. 4 million of con sdwrin si on the ex contingency on the expenditure side in the operating budgets, and 2. 0 use of the reserve, so i would recommend on the expenditure side we reduce to 2. 0 which would be a redestruction of 1. 38 million on the expenditure side. I would recommend we reduce the operating contributions by that same amount. Because basically what is in the proposed budget is were funding a contingency in part from the reserves and in part from up front operator contributions. So what in effect you are asking the operators to do is reduce their budgets and the services that they are providing to the public. In the event that tjpa needs more money at some point. I would suggest as i did last time that should we get into a position that tjpa needs more money next year, that come back to the board and at that point seek funding from the operators or maybe there will be other sources at that time. So i will remake that ask, i guess, in this case in terms of a motion to amend the proposal. Director reiskin, i thought we did that. I thought once we go 50 , and deplete the contingency, we will ask the board for approval. So planning to come back to ask for that, then what i am asking is that you dont ask us to pull the money out of our operations in advance. I see. As long as so you are prebudgeting it. Yes, because they think we need it. I am all for the come back to the board should bit needed. What i am not supporting is the budgeting for it in advance. I get that you are trying to be conservative and having a large contingency and i would suggest it is even more conservative to live within the budget and then come back to the board should the budget prove to be inadequate for whatever reasons. So i would make that motion. I will