Present. Thank you. Mr. Hursh . Present. Lipkin present. Tavares is absent. Vice chair gee present and madame chair present. Directors, you do have a quorum. Go ahead and call the next item. Sure. Directors, the next item, item 3 is communications. Wed like to provide further instructions for the Public Comment process which has changed slightly from the last meeting. Members should dial into the published number, 408 4189388 and enter access code, 1466334383, press pound and then pound again. Listen to the meeting as they wait for Public Comment to be announced. At which time, members would have up to three minutes to provide comments on each agenda item. They would get into the queue for a particular item by pressing star 3. I will announce Public Comment on each item and or for general Public Comment. And that is when callers will dial star 3. It will show their hand is raised and theyll be added to the queue and called on. Lets see. Callers will remain muted until their line is open. Automated voice will let callers know when its their turn to speak. Everyone should account for the time delays and discrepancies between live calls and speaking. Turn down your television or radio. Thats all the communications i have. Unless the other members of the board have other communications . Seeing none, would you like me to call your next item . I think she means yes chair sesay yes, please. [laughter]. Directors, item 4 is board of directors new and old business. And director haney has raised his hand, madame chair. I dont see any other members wishing to talk on this item. Chair sesay okay. Director haney. Supervisor haney thank you, chair. I wanted to request an item for a new business for our next Board Meeting. To discuss the interim use of the temporary terminal site on the next agenda. I would ask that the staff and the meet time make all efforts to gather feedback from tenants and surrounding residential and commercial neighbors on desired uses for the space, which serves as an appropriate interim use. As the city reopens, the temporary terminal space will have the potential to be a neighborhood serving space on an interim basis for retailers and restaurants. Potential use to set up seating or other uses for safe social distancing activity. There have been some confusing and contradictory messages that have gone out about the use of the site. Initially, our director agreed to sort of an indefinite lease. Then it seemed that was not going to be used for that purpose. Then the latest was that the lease was going to be terminated and its not going to be terminated. So a lot of, i think, confusion amongst surrounding residents about the use of the site. I think its important we have a conversation here at the to really determine what is an appropriate use of the site. I think there are a lot of opportunities we should be exploring and i think its a responsibility we have as the Property Owner of the site. I want to request that there is preparation for that and that we discuss it at the next Board Meeting. Chair sesay thank you, director haney. Any other members . I will direct staff to work on director haneys request. Any other Board Members wishing to speak on the item . Any inquiry questions for staff . Any of the members of the board have indicated that they wish to speak on this item. I dont see members of the public that have raised their hand under this particular item. So weve noted director haneys request and well go ahead and move to the next item. Chair sesay yes, please. Item 5 is the executive directors report. Good morning, directors. Am i clear . My voice . Yes, it is. First, i would like to update you on our continued efforts to support the bay area reopening during covid19 health crisis. Our goal is to help reduce the Community Spread of covid19 by doing our part at the Transit Center. As you know, San Francisco is now in phase 2 of reopening, allowing for more indoor and outdoor activities. Were closely monitoring the guidelines and guidance from the cdc health officer, updates on protocols and update transit riders and other visitors with the most uptodate information. And our enhanced cleaning protocols remain in place. Im happy to report that we open effective this week. And while gyms are not allowed to reopen, were working with our anchor tenant on reopening strategy that we are fully that we will be fully prepared once they are allowed to reopen their facility. Likewise, were also working with them on the reopening plans. We continue to operate the Transit Center to support our transit riders as they see increases in transit ridership. The park remains a place of respite for the neighborhoods, visitors, exercise and fresh air, consistent with the bay area shelterinplace. Our active programming on the park remains suspended at this time. Were also requiring the public to wear face coverings in all areas of the Transit Center, consistent with state and local health orders. We continue our work to educate transit riders and visitors to socially distance from one another, wash hands and stay home when sick. Well continue to monitor updated orders issued by Bay Area Health officers to ensure were in compliance with all county and Regional Health measures. You will receive a more detailed update later on when john updike presents his matters. In march, the board approved the issuance of tax bonds, refinance and we pay all or portions of the city financing as needed and finance additional costs associated with the construction and design of the Transit Center. I am happy to report that on june 17th, we received we successfully sold approximately 271 million of tax allocation bonds with approximately 3. 4 Interest Rates. Far more favorable than our Loan Interest rates of 4. 57 . We received 360 orders for tax allocation bonds in excess of 3. 5 million. The refinancing will generate more than 25 million in net present value, or approximately 14 of the refunded bonds. Significant accomplishment by the tjpa given this is our first bond sale and it was accomplished in the midst of a challenging time at many levels. Our c. F. O. Will provide more details on the bond sale later today when she presents the budget for your consideration. I would like to take this time to thank erin and her team for their significant achievement during significant economic uncertainties and challenges we have been facing. At this time i would like to invite our federal Advocacy Team members with chambers, conlin to provide you with an update on the latest efforts in washington d. C. , transportation funding and stimulus discussions. Julie . Thank you, mark. Good morning, sesay and members of the board. It is a pleasure to be with you today. Together with keith and patricia, my remarks represent those of our Bipartisan Team of infrastructure experts specializing in the work before the u. S. Department of transportation. And its many modal administrations, including the federal transit administration, the federal Railroad Administration and the buildamerica bureau which finances programs. By way of background, ive spent the last 20 years working on federal Infrastructure Investments in washington d. C. , but i spent my formative years in Northern California growing up in auburn and graduating from university. Both of my parents were born and raised to San Francisco and i look forward to traveling to the city and seeing all of you in person as soon as it is safe to do so. In the interim, we appreciate the opportunity to bring a little bit of d. C. To you in this virtual forematt. My remarks will provide the development of the federal infrastructure package. So lets get started. To date, congress has passed three major covid19 relief bills. The largest of these packages, the cares act, was passed on march 27 and provided 2. 3 trillion in relief funding for broad array of critical needs, including Small Businesses and unemployment programs, as well as the transit agencies, which overnight decline in ridership, cleaning and disinfecting rooms. While there is acknowledgment another relief bill is needed, a fourth relief bill is not expected until mid july. In late march before the extent of the World Health Crisis was realized, it was hoped at the federal level we would see a quick transition from covid19 are relief to covid19 recovery through the form of a federal stimulus bill. While were still a ways off from that occurring, congress is working on a number of infrastructure proposals that could serve as foundation for an infrastructure stimulus package. Just as this team did in 2008, we have remained engaged with your congressional delegation and committees of jurisdiction to ensure that largescale, complex, multimodal Infrastructure Investments such as the sales force Transit Center, have an opportunity to compete for whatever federal funding becomes available. More specifically, the House Transportation Committee introduced the invest in america act. This legislation, should it become law, provides several opportunities for the transbay program. I want to highlight three of them. First, it modifies and expands the Freight Program to make transit an eligible applicant. Renamed as the project of significance, this is the Competitive Grant Program that is intended for large projects of 1100 million or more. The grant must be part of a funding package that funds that entire piece of the project. If this program survives the legislative process, it is likely the best opportunity for the tjpa to secure significant funding similar to the 400 million that tjpa previously secured for the train box. Second, the bill dramatically increases annual funding for stas capital grant program. They authorized at 2. 3 billion and the invest act would more than double to 5 billion annually. Both of these changes would benefit the downtown extension when tjpa enters the new start. Third, the bills rail title includes funding for highspeed rail projects, something we have not seen since the obama administration. This new 19 billion program is called prime. While all of these direct funding opportunities are promising, there are many problematic details that are important to have the tjpa apply for and administer federal financing program. Given the size and scope of the downtown extension, the awards, financing will be needed. In particular, the team has been working on modifications to the rrif program and were pleased to see language calling up tunnels. This modification would benefit the tjpa should it a apply for a risk loan. This legislation does not allow for any of the funds to be earmarked. No matter what final form the legislation takes, there will be no earmarking. The Eligibility Criteria are favorable to dtx, but well have to compete vigorously for the funds. The house is expected to vote on the act next week, but theyll do it under a new name, the moving forward act. It incorporates all House Democratic principles by including funding for broadband, housing for schools and water infrastructure. Passage of this legislation will be along party lines, but it sets forth the House Democrats negotiating positions for an infrastructure package. Republicans are equally interested in moving meaningful packages for infrastructure, but not as far along as the house. While what we are seeing at the federal level is trending in a positive direction for phase 2 of the Transit Center, i want to recognize that what youre most interested in is when you can start applying for these funds. Our collective crystal ball tells us that final passage of a infrastructure bill will not happen until after the election. If the republicans maintain control of the senate and white house, an infrastructure package could be passed in the lameduck session of 2020. If the country elects a new occupant of 1600 pennsylvania avenue, a package will wait until after january 20, 2021, when a new president is sworn in. If the democrats secure a majority in both the house and senate, it is more likely to see a package passed in early 2021. Finally, if we see the democrats maintain the house and capture both the senate and the white house, there is no question that infrastructure will move quickly. This last scenario would be very similar to passage in 2009. This includes the federal update and outlook. Keith and i would be happy to answer any questions. Thank you, julie. Please stand by in case there are questions at the end ever the report. Will do. Directors, i would like to welcome john updike and provide them with an update. As reported, john joined the tjpa as a facility director in may. He has hit the ground running and two years working in government and Property Management are already greatly benefitting the tjpa and the Transit Center. John, again, welcome, and please provide your presentation. Thank you, mark. Good morning, chair sesay and directors. So here is a list of the activities over the past month since ive arrived in this position. As you know, i had the pleasure of working with tjpa staff previously on the acquisitions for this facility on the street vacations and then on the bridge financing. So fortunately, i walked in the door with a little bit of helpful background. I want to thank the team at lincoln and their subcontractors for welcoming me and putting up with a lot of questions, as i look to bring efficiency to what we do. I want to thank the tjpa staff, who has been very accommodating, including nilla who worked with me for a couple of days to get me caught up. I appreciate that. Most informative has been oneonone discussions with each tenant who signed a lease with us, their concerns to date and the challenges they feel for a successful opening or reopening and how we can help meet that challenge. So i want to talk about the impacts that we have felt from covid19 as i think we previously mentioned. Were continuing the disinfection of hightouch areas. Were in the queue with multiple vendors along with many agencies and private entities to secure Hand Sanitizer dispensers that will roll out with the product already on hand as soon as we get the dispensers in our possession. The salesforce park remains passively in operation consistent with the guidance from the county and the state. Our signage efforts to encourage distancing, maskwearing and no more than two to the elevator have kept on pace and are supplemented by audio announcements daily. As our transit operations pitch up, our engineering and custodial team has worked closely with providers to install decals as necessary. You can see them here as an example at one of the transit stops. Most recently, weve had to approximate prepare for and adjust operations. Id like to thank all of the operators, the security team, my Facility Team and all the agencies for their great cooperation, excellent communication throughout those events. Of course, asked executive director mentioned, the commercial tenants at the time of the shelterinplace, fitness sf and others closed. While the tenants were closely monitoring the guidance on reopening, facilitating opens again. Were thrilled that they have reopened this week and we expect fitness to open in august, if not sooner should the guidance change that is currently out from the mayors office. Well like lie see them reopen their location when market returns this fall. We did experience minor delays in construction. Ill have details on that. As the executive director mentioned, in response to relief to request, well walk through the lease strategy for your consideration. On the leasing front, were focusing on some opportunities on the sales force pad site. Selfcontained food and beverage providers, with three potential prospects for use of suite 232. That is shown in green on the map. Thats where our offices are. Right next to our offices off the beale street elevators. We discussed with our leasing team the need to be flexible in these challenging times and anticipate changing market dynamics. So some firstfloor uses such as Financial Institutions and personal services may be considered along with less intense food options. Or for some or all of our remaining spaces. So those are shown in the green boxes here. We are seeking tenancies. Were going to need to be flexible and open to new considerations there. As those develop, well share more details with you. So now on to tenant improvements. As i mentioned, we only had a brief hiatus on construction and we have two projects fully under way. Kaiser permanente facility, on the second level, west end. And Verizon Store in suite 145. Thats first street. Both have targeted fall opening dates. Were excited about that and them joining the team here. The other tenants have been making terrific progress on design and permitting. Later this summer were going to be abuzz with activity through the Transit Center with possibly all of these others under construction. Working on a sequencing plan, detailed schedules with these tenants. Ill provide far more details on the timing of these efforts as well as projected openings soon. What i can say now is that some will open by the end of this year. Others in the spring of next year. Im happy to answer any questions. Madame chair, i do not see any members of the public or Board Members that have indicated via this Great Technology that allows them to raise their hand, but they ca