The local, state and federal levels and encouraging them to take full advantage of that assistance. We are reviewing the lease terms and very mindful of the significant Financial Hardship our tenants are experiencing. Once the shelterinplace is lifted we will present to the board for consideration our response to tenants request for relief. We understand there will be challenging times ahead for public agencies such as ours and Small Businesses. Our goal is to be fair to our tenants and protect the publics best interest and investment in the Transit Center. We want to be consistent with other agencies such as the boydf San Francisco. This concludes my report. Thank you. Madam secretary. Madam chair, i dont see any members of the board that have indicated they wanted to comment on this item. Moderator has opened the phone lines for Public Comment. Members of the public already dialed in and wish to provide Public Comment under this item would dial 1 and 0 to be added to the cue to speak under this item. I dont believe we have any callers as of yet. We will give a moment or two to let folks dial. I have gotten confirmation there are no callers lined up. We now have one. Caller please state your name. You have three minutes. There is jim patrick. I am struggling. I want to direct my comments to the upcoming item on the memo to be approved if i can enter comments now. Is that all right . I am sorry, mr. Patrick. You want to comment on an item later in the agenda . Yes, i am not sure i can get in then since i have this opportunity. At this time we are taking Public Comment o on the executie directors report. If you would go back to the cue press 1 and 0. If you get into a cue that is not the item you comment on press 1 and 0 to go back. We can have the moderator disconnect you now and you will go back to the listening need. When you are ready to comment press 1 and 0. I will call for it. Is that okay . Okay. Thank you. Thanks, mr. Patrick. That concludes the members of the public for that item. Madam chair, would you like me to call the next item . Yes. Item 6. Public comment which is an opportunity for members of the public to address the authority on matters not on todays calendar. I am not aware of anyone in the cue. We will open the phone line for Public Comment. Members of the public already dialed in and wish to provide Public Comment would dialing 1 and 0 to be added to the cue. The system would prompt them when it is their turn to speak. If they want to withdraw the question or accidentally press 1 and 0, they would press 1 and 0 to get out of this cue. If members of the public want to provide Public Comment and have not yet dialed in call 18883634735 and enter pass code 4134030. Followed by the pound sign and pound sign again. When prompted you would press 1 and then 0 to be placed in the cue. Automated voice will let you know when it is your voice. To withdraw the question press 1 and 0. We will wait a few moments to allow callers to submit requests, if any. As of now we do not have anyone lined up. That is to speak on item 6. Matters not on todays calendar. Just received confirmation there are no speakers cued for this item. That wish to speak to you under this item. We will move to the next item. Item 7, presentation of the budget outlook for tjpas fiscal year 202021 operating Capital Budget. The chief Financial Officer will be presenting. Good morning. I hope everyone can hear me okay. In your packet today you have the budget outlook for fiscal year 2021. Mark has stolen some of my thunder for the things included. In terms of operational budget we expect some revenue declines as a result of the covid19 impact. We would expect retail leasing and advertising to be decreased approximately 50 from the projection that we had given you for the preliminary budget in january. We would expect expenses to be currently projected as flat. We will work to reduce the expenses to match the revenue reduction. We are working closely with m. T. C. And federal stimulus plans and with some of your staff to come up with the best solution for the revenue loss and adjusting of expenses. In terms of debt budget we expect a 15. 000000 debt Service Based on success of bond sales we anticipated for may and june. For the Capital Budget we expect phase one to continue to closeout with legal fees as the main source for phase one. In phase two capital we expect advancing preliminary engineering to 30 while adding an additional position which would be the program director. Lastly, tenant improvements, we would continue to have that budgeted at 35. 5 million. We expect there will be some adjustments based on the redistribution mep and construction delays from the covid19 impact. Do you have any questions on the budget outlook . Madam secretary, do we have any comments from fellow directors on this item . Madam chair, i do see one hand. Vice chair gee would like to address you. Good morning, everyone. Thank you for the update. Given the Public Health emergency and the unknown dates when things will be changed i suspect it might be a change, and given the fiscal years dont change. Perhaps running a couple scenarios might be better than trying to do a budget update. What happens if x or y happens. You get a brackett what the budget impacts might look like. I wish i was good enough to tell everybody when the Public Health emergency was going to be over. I am not that good. Perhaps running some scenarios might be a better strategy given be what we are confronted with at this time. Absolutely, yes. For the may draft budget we would have different scenarios for you to review. Thank you. Madam chair, it doesnt appear that any other Board Members have indicate by racing their hands. I know they can hear us and it doesnt look like there are any other comments from the Board Members. I do have a question about the reserves. In the staff memo you identified the funds that we have and you talked about the o and m reserve that was 25 but it has since dropped. Can you tell us what that is . You identified the emergency reserves as having 500,000. I dont know what is in the fiscal reserve. In the osm reserve, the policy has a goal of 25 . However, it hasnt been funded at 25 in the last two fiscal years. It is funded at about 7 of the overall operating expenses. In our last Board Meeting we did a budget adjustment to allow us to use 1. 6 million of the osm reserve for rm3 revenue that we anticipated to receive this year. The reserve currently is about 3. 5 . As we budget throughout the next fiscal years if there is additional revenue or opportunities that are available for operations, then we would work to replenish it to increase it back to the goal amount, but it is part of the boards decision whenever we adopt the fiscal year budget on the level every serves. The fiscal reserve has about 25 million in it. It would be only for capital at this point, and based on our previous Board Meeting we made the budget adjustment we anticipate moneys coming into the reserves from our bond sales, but those dollars are not available until we are successful with that. As of today there are very few dollars in the o and m reserve or physician another or in the fiscal reserve that are available to help in this situation. Thank you. If there are no other Board Members wishes to speak on this item, i will ask the secretary if any members of the public would like to speak. Thank you, madam chair. I am checking now to see if we have callers lined up for this item. Members of the public already dialed in and wish to speak on this item would press 1 and 0 to get into the cue. Members of the public that would wish to provide Public Comment would calm 1 888 3634735 and enter the passcode followed by the pound sign and pound sign again. When prompt would they would press 1 and 0 to be placed in the cue. At this time there is no members of the public cued up to address you under this item 7, the budget outlook. Giving them another moment before we move on and call your next item. Seeing none, madam chair, i will call your next item. Item 8. Authorizing the executive director to execute professional Services Agreements for Financial Consulting services with a bench of two firms, nwc partners and rock Fleet Financial Services to provide services in their respective areas on asneeded basis for a fiveyear term with a two year option to extend as long as the total compensation does not exceed 7. 1 million. Aaron rose will present this item. Thank you. You have in front of you two separate contracts under Financial Consulting bench for a wc nwc partners and rock fleet. They would provide Grant Management, administration support, Financial Planning and federal reporting. We have a number of grants that require quarterly, semiannual and annual reporting. These contractors would help with the financial Grant Management annual grant reporting. The Financial Planning for phase two and phase one to help us provide the amount of resources we need to move the project forward. Additionally, they would provide finance staff and any other federal loan reporting. We generally have annual and semiannual reporting for those. These two companies and their different areas would provide that support. I would be happy to take questions if you have any. Madam chair, you have director lipkin who wants to comment on the item. If thank you for the report and the evaluation. I looked through it. The only thing i want to ask about is you mentioned the two firms have some different expertise and some would do more of one type of work than the other. Not that we need to make those decisions today ahead of the award. Can you give us a sense what you expect or where the different strengths lie for the two firms . Sure. One of the firms, nwc partners has a good handle on San Francisco and the oakland bay area. Federal, state and local planning processes and granting processes so they are very connected to the m. T. C. , all of the planning groups and workshops. They have a local focus to help us achieve local and state grants. The other company rock fleet has greater ties to the federal government with expertise in loans and risk loans and federal stimulus and programs. Those are some of the biggest distinguishing factors between the two. We felt like there was a coordinated effort for all grants. As you have one firm more connected to the federal government and one firm more connected to the local government. Thank you. Madam chair, there are currently no other members that have raised their hand. I will move the item. Do we want to open up to the public on this . Yes. Now that directors have had the opportunity for discussion, we will go ahead and open the lines. The lines are open for Public Comment. At this time there are callers on the line listening, however, if they would like to comment on this item in particular, if they can please press 1 and 0 to be placed in the cue. An automated voice will let them know when it is their turn to speak. Members of the public listening on sfgovtv but have not dial dialed in should call 18883634735 and enter 4134030 followed by foun pound sign andd sign again. Then 1 and 0 to be placed in the cue. An automated voice will let them know when it is their turn. Give me a moment. There are no speakers cued up for this item. We had a motion from director hursh. May i have a second. Second. Madam secretary, please call the role. Director forbes. Aye. Director haney. Aye. Director hursh. Aye. Director lipkin. Aye. Director tumlin. Aye. Vice chair gee. Aye. Chair sesay. Aye. Seven ayes. Item nine is approved. All right. Excuse me that was item 8. Item 8 is approved. Madam chair call your next item. Item 9. Approving the tjpa title six program for april 12020 to marcy program. You have in front of you the title vi program. Any recipient of federal transportation dollars has to have a title six program to ensure nondiscrimination when offering public services. This is the First Program that it covers for operations of the Transit Center. It includes Public Participation plan and language assistance plan as required by sba. The main languages we translate into our english, chinese and spanish with 18 safe harbor languages translated over the three year period. We are in compliance with sba and fta requirements. We will continue to provide the services that are required. Any questions . Thank you. Madam secretary . I do not see any members of the directors that indicated they want be to comment on this item. Do we have members of the public to comment on this item . We will open the phone lines for members of the public at this time to comment on the item. If members are already dialed in and wish to speak on this item they would press 1 to be placed in the cue. Automated voice would let them know that it is their turn and they can withdraw the question press 1 and 0 again. They have not dialed in call 18883634735 and enter 4134030 followed by the pound sign and then pound sign again. When prompted, please press 1 and 0 to be placed in the cue. At this time we will give them a few moments to see if anyone wants to cue up to speak on this item. At this time we do not have callers lined up. Seeing none, madam chair, there are no members to address you under this item. Thank you, madam secretary. Any Public Comment on this . It is now closed. May i have a motion . So moved. Second. Madam secretary. Yes. Directors please respond. Director forbes. Aye. Director haney. Aye. Director hursh. Aye. Director lipkin. Aye. Director tumlin. Aye. Vice chair gee. Aye, and chair sesay. Aye. That is seven ayes and directors item 9 is approved. Shall i call the next item . Yes. Item 10 is your approving the minutes of the march 12, 2020 meeting. Do i have any comments or questions from Board Members . Madam chair, none that i can see here. Do we have members of the public to comment be on this item . The moderator opened the line for members of the public. We currently do not have anyone in the cue. We have an opportunity to comment on this item. They would press 1 and 0 to be placed in the cue to speak directly on this item. Any members of the public that have not yet dialed in would call 18883634735 and enter the passcode followed by the pound sign and pound sign again and follow the prompts. Seeing no members online wishing to comment on this item, madam chair. May i have a motion . So moved. Second . Second. Thank you. Coal call. Roll call. To approve the march 12, 2020 meetings. Director forbes. Aye. Director haney. Aye. Director hursh. Aye. Director lipkin. Aye. Director tumlin. Aye. Vice chair gee. Aye. Chair sesay. Aye. That is seven ayes and the minutes are approved. Madam chair, shall i call the next item . Yes. Directors, your next item is item 11. Consider authorizing the tjpa board chair to execute the San Francisco peninsula rail Program Memorandum of understanding with the metropolitan Transportation Commission and the San Francisco county Transportation Authority, the caltrain board, california high speed rail short and the city and county of San Francisco mayors office. To implement the new structure to support the efforts of the development of downtown rail extension and make direct recommendations to the tjpa board regarding a set of work program activities. Madam chair, i believe executive director will be presenting this item. Madam chair, i am going to take that from you so i can download. I can upload the file. We can see it there. Directors, this is a similar presentation to what i shared with you at the last Board Meeting in march. This is a fixed body agreement with the tjpa and the metropolitan Transportation Commission, the San Francisco county Transportation Authority, caltrain, highspeed rail and city and county of San Francisco. The purpose of this agreement is to support the tjpa in advancing phase two, downtown rail extension in the most efficient manner in full collaboration with the region. The goal is to fully fund downtown extension and bring it to shovel ready status in two to three years. By way of background, in july 2018, the San Francisco county Transportation Authority approved allocation of approximately 10 million to advance the phase two downtown extension the 30 design. This was based on a plan to be developed to advance downtown extension to be shovrel ready two to three years from that time. In october 2018 they suspended after the discovery of fissures in the girders on fremont street and closures of the Transit Center. The San Francisco county resolution suspended the funds included two conditions. First condition was for the San Francisco county Controllers Office to conduct an evaluation of the management and delivery of the Sales Fo