Requirements. As noticed on the agenda, members of the public may observe the meeting by sfgovtv and they may offer Public Comment by calling the Public Comment phone number. I would like to welcome the members of the public and staff who are watching us live on sfgovtv. Madam secretary, please call the roll. Directors please respond when i call your name. Director forbes. Spent. Director heavy rai haney. Present. Director luresh. Present. Director lipkin. Present. Director tumlin. Present. Vice chair gee. Spent and chair sesay. Present. Madam chair you hav you have a. The next item is communications. We would like to provide further instructions for Public Comment. Callers dial into the toll flow number and listen to the meeting as they wait for Public Comments. They have three minutes on each item. We will announce when Public Comment is opened on each item or for general Public Comment. During each period viewers and callers will be instructed to dial 18883634735 and enter the passcode 4134030 followed by the pound sign. Press the pound sign again to enter as parties pant. This number will enter as a participant. This will be on the screen. When you are connected listen to instructions. When prompted dial one and zero to be added to the cue to speak. You will beelined up in the order you dial one and zero. While you are waiting the system will be silent. It will notify you when you are online. All callers are on mute until the line is open. Account for time delays and speaking discrepancies between live coverage and screaming. Call from a quiet location, speak clearly and slowly and turndown the television or radio. There are no other communications that i am aware of. Are there any communications any of you have . Shall i call the next item . Yes. Item 4 is board of directors new and old business. I am not aware of any. Directors. Seeing none, commerc chair sesal the next item . Yes. Executive directors report. First i would like to acknowledge we are living through challenging times. As Public Servants we have a role to play in responding to the covid19 Health Crisis and ensuring the safety of the public. I thank you for the work you are doing to address the very serious impact in the bay area. On that front, i would like to update you on the continued response to the Community Spread of covid19. We are committed to the health and safety of all users of the Transit Center including transit riders, transit operators and staff, security officers, janitorial staff, park visitors and employees. We continue to take all measures for the health and safety of all users in response to the Community Spread of covid19. This includes continued coordination with local, regional, state and federal Public HealthEmergency Response and transit agencies, including the federal transit administration, governor govers office, San FranciscoMayors Office and the operators and the City Department of Emergency Management and the operations center. We are continuously cleaning touch points, handrails, elevator buttons, door handles and digital screens. We are also continuing to clean the rest rooms. We continue to conduct outreach with proper Public Health information distributing multi lindistribute multi language. Elevators, restrooms and staff areas have information. We know the situation is changing rapidly so we continue to monitor and respond appropriately. Moving to operations. In terms of overall operations of the trans citizenter. The facility is open to the public including the bus plaza and park. Bus operators continue to operate out of the Transit Center on an extremely reviewed schedule. The bus is open to the public. All activities and programming have been suspended and the childrens playground is closed. Recognizing the financial and Health Impacts of covid19 pandemic is causing we have reduced operations staff to only what is required to secure, keep clean and to operate the Transit Center on the current bus schedules, ridership levels. We will continue to monitor the usage and look for opportunities to reduce expenses. The San FranciscoPolice Department and our security personnel remind people of the need to social distance throughout the Transit Center including the park. We are relying on voluntary compliance. So far we have not had to enforce social distancing or discourage crowds because riders are following health orders. We understand the use of the park for brief exercise for neighborhood residents only. The bus should be used by riders commuting to businesses. We will continue to monitor behavior to ensure everyone is following the health order issued to slow the spread of covid19. We are discussing with m. T. C. And in close contact with advocacy teams at state and federal level to secure available funding from the various assistance programs to offset the losses we are experiencing now and next fiscal year. We expect to see a drop in revenue from addter vicing, commercial platform and i will address that later in my report. The bay area is receiving 1. 3 billion from the 25 billion transit Relief Program provided by the cares act. We will be working with m. T. C. And s. F. M. T. A. To capture the funding to offset the revenue losses. In terms of status of our current tenants. As you know, the shelterinplace order all tents open for before before the order have temporarily closed including the recently opened locations, sf fitness opened in november 2019. As soon as it opened the mobile location on first street yesterday. They are operates limited schedule. In addition. All construction activities related to improvements have been halted to comply with the San Francisco health order. This Construction Activity will delay the opening every maining retail stations that have been leased and will result in a Significant Impact for the lease revenues for the next fiscal years budget. Tenants open before the shelterinplace have requested Financial Assistance of reduced rent. We have been sharing with tenants all available torsion on the covid19 Relief Programs at 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 administrative support for the 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 hav