Here. Next item communication and not aware of any. Okay. I dont think we have any from the board. Item 4 is board of directs new and old business. Okaywe have a new president elect, we know that. I would like to not know. Just in case nobody knew. Next item item 5, executive director report. October 20 meeting approved reduction in lease rates under interstate 80 for the bus service facility. This will benefit golden gate transit which has similar storage lot under i 80 with lease rates set to exspire nucs month. The current lease is approximately 560 thousand per euros year. [inaudible] caltrans informed on the current fair market value the cost of the lease will increase to 1. 4 million per year after twnt Percent Discount. Through the collaborative effort of golden gate district and ac translt and help with caltrans approved a lease term with 85 Percent Discount of fair market value reducing the lease to more than 85 Percent Discount of fair market value reducing the lease to more than a million to 25 thousand a year which is half of what golden gate is paying now. Like to thank director harper who was at the meeting and thank director sartipi caltrans staff for helping come to this. That was a great result for us. Our next steps would be enter into agreement with caltrans and ac transit and take back to ctc and bring back to board for approval. [inaudible] been a strong supporter of veterans throughout the history the project. Tomorrows is veterans day and felt it was important to honor the veterans working hard to development the translt center. From the trades in the field to professional staff 30 veterans are invited to sit torenl for exclusive lunch to thank them. Like to thank [inaudible] for the construction erflt. We are looking forward to. Last month we hoped to receive first dispersement of [inaudible] in late october. We have not been able to come to agreement on the loan amendment per taining to city financing. We are still hoping to receive dispersement later this munthd and talked to leadership in washington and agreed to give dispersement later this month without the amendment officially executed and city financing closed, however, this provided we are able to come to terms with the agreement on the tournament. We have a call later this afternoon to finalize that so the hope is we receive dispersement later this month. I have sarah here and can answer any question regarding this and this concludes my report. On the ctc meeting, we can particularly thank chairman alvarado. He was absolutely masterful. He has a biglike 14 or 16 people and they are justhe just focused and focused and focused and focused and focused and he want going to let anyone continue the item for any reason, we will figure it out now. It was masterful. If any board member wants to see how you chair a meeting or at least that item, it was really good. Everybody helped, but he did it and directed it and where he wanted to go and it was unanimous after he finished. Really good to watch. Okay. Next item. Construction update. Good morning, directors. For this months update we are back at full staff so ron and i will split duty and go 33 the usual items we hit on. So, regarding roont activity, this graph shows a lot of green, green means good. A lot of progress. Pink is all activity in progress at this point. We have about 700 workers on site today, so we continue to bump up and continue to add as we get throughsoever the next quarter or two working day, swing, night shift saturday and occasion alsundays. This shows the rooftop restaurant starting down to the ground level. Beale street, the last train block con crete pour was done the past week so sthra lot of activity throughout the entire above grade portion and below grade there is truminds progress on the lower concourse and train block. The lower con course is heart and lungs. In the graphic a lot are going 3 d which mean thaiz are active or completed so very Good Progress going on on these sites. When you jump to the had bus ramp the graphic shows activity to the cable stay to climen teen through harrison. The graphics are continuing to change and update and lot of progress made. You can see in the picture in the western zone that shows that there is a lut of work on the bus deck. The Water Proofing and concrete makes to either end chbt we started in the middle and worked out so now it is making to the far west end. The bottom left it shows where all the conduit, there is a amazing amount of conduit. If you have been out you know how much. On top the switch gear transformers continue to be installed. There are a lot of those out there as we get towards permanent power. The central focus is rooftop and Water Proofing happening up there. Also the glass canopies over escalators are taking shape. One the skylights has a grade placed on it, a big milestone. A large oval has the framing on top in preparation for the glass that will go there. Also the glass foor has a lot of panels in it. In the eastern zone the light column is taking shape with the skylight. About to have its framing go over it as well too. The awning is making progress in the western and eastern zones as we proguess. In the grand hall the Glass Ceiling which is our Critical Path so a lot of emphasis on that area mptd on the bus ramp, our cable stay, the cables have been stressed, all 7 of them. It has been lifted up and a lot of the false work is gone already. It looks beautiful as you drive down Howard Street but have miscellaneous pieces to come into place to make it permanent soon. Items on the bus ramp are progressing like the retaining wall squz deck work is happening as well. Now, there is a lot ofwe are in transition on the presentation and put all the words up and wont reference them. They are later reading but the main focus is there is a lot of items that will be completed in the next period. Completed, completed shows up through this especially in the central zone. We are in a transition period where we talk more about bus operations, getting that on board. The getting the building up and running. The commissioning of it and the retail cl element ron will talk more in on his operational readiness slide. This is a slide that is focusing on a lot of things that complete in the field as we move into 2017 getting ready fl day one. Unfortunately had one lost time accident, it happened a month ago. A employee as he wastripped on a tray underneath a porta john and ripped thetenedens in both quadricepts so it wasnt technically a work related incident but on the job site so one lost time this year. We wish him well. He is a having surgery and hopefully see back on site shortly. The craft hours sur passed 2. 7 million hours to date on the project so we continue to get very very large numbers with the crafts. While we are on that slide, i always thought that every lost time incident is recordable incident . We put it under the category so dont lose track of a lost time. It is sort of a fundamentaljust the way we report it at this point. You had zero in lost time. We keep them separate. Okay. With that ill turn it over to ron for the rest the presentation. Thanks dennis. Always appreciate the level of detail you share with us in the activity in the field and your correct, we are coming to the end of the big heavy construction and moving more into the grandural activity of mep and commissioning and all that. Exciting place to be. With respect to budget, no real big surprises. It is kind of trending as expected. We spent expenditures went up about just under 28 million over the last month. Pretty much expected in terms of finishic ing up in the next 14 months as expected. Commitment wnt up about 28. 4 million and in terms of forecast estimate of completion we went down 1. 3 million reflective of the favorable bid we received on the network so going in a good direction there. In terms of Percent Complete in terms of budget and contract time both tipped up about 1 percent, so no real surprises there. Um, with respect to contingency cost, it was a light month predominantly on electrical i think about 100 thousand of contingency draw around electrical and this is where we reflect the plowing back into the program reserve, the 1. 5 cost avoidance by having a favorable bid. There ask a number of things in the hopper as you see with the forecast continge aenss use. Just under 3 million in discussion in terms of things and potential contingency draws. Not all of them will become real but gives a idea of magnitude of discussion going on. Mubing mubing moving on to schedule, as dennis reported, last month we received a recovery schedule, so we are really seeing a stabilization of the schedule. If you recall over the months the previous months and current month report we bobbed around because of the issues we rp wrestling with. Not a lot to say here. We stabilized reflective of the recovery schedule and no big changes over the last month. It is up to us to monitor and maintain the current recovery schedule to achieve the objective of being substantially complete by 122217. Even looking that grandural streams of activity they are all well stabilized. We have a bit more work on the roof park as i think dennis relaid in terms of recovery but all in all, ready for its inteneded use is on track for december ofdecember 22, twnt 2017. As going back for a second i want to highlight the bus storage again reflects the normal slippage with ability to settle on the lease and mark mentioned, lease terms have been determined with the bus Storage Facilities, so we are looking towards focusing on that and getting that back on track. This slide here outlines we are dialing in milestones to initiate to get correct with the bus Storage Facility in terms of getting the bid out to bid, getting ready. There is residual ark logical field work that needs to be done. We are looking at 14 to 18 month duration with a trajectory towards fall of twnt 2018 to have the bus Storage Facility in place and obviously that is post operations of the Transit Center, so there will be a interim period we deadhead or accommodations need to be done. Quick question. Is there a reason why we are waiting another three months to start the field work . I think we still need the bid. The drawings are done, i think it it looks like the work is starting observe the contract award. Is this happening outside the contract . Ark logical work . Right. We already [inaudible] our initant is start in january. There is the areas used for parking lot now so need to work with caltrans on entering the area and need to terminate the lease or figure whether we can do some of that work and remain as a parking lot use. Okay. Anything we can do to absolutely. The time from the transit scepter opens and bus facility. That is intent. Why didnt dee the bidding period earlier . We didnt need the lease agreed before the bids go ow so could have done that earlier, right sph yeah, receiving bids there is a timeframe that they hold true. There was a risk there. We didnt have to advertise until there was a commitment from ac transit to fund the lease and ac trandst wouldnt fund the lease without the lease terms. Ac transit indicated they will not be able to fund the lease based on the initial copative agreement the 85 percent is totally unaffordable. Yes. We have to wait for that, so now that we have that resolved still would have beenyou can go out. Not all ac transits fault. Thats my job. [laughter] we try to be strategic and preload what we could. That is how it played out but now that the lease is just about in place in terms of being official, we need to pick up the pace and put focus on that stream of activity as well. I like to ask a question. I was going wait but since we are on the slide, ron you and your team have done a great job on budget and schedule. If i understand i think probably the biggest risk from a financial standpoint is bus Storage Facilities since we havent bid it yet . There is potential for bid bust. Is that my seeing this correctly from a numbers standpoint because this piece the project hasnt been bid yes, there is potential for the numbers not to hit what we are estimating . Yeah, as i say we can get hit by any number of comments out there. We just need to manage to where we are going and this is the largest item missing out there to make sure you hit your forecast. Yeah appreciate that. Good point. Lost site for a while focused on the transitsenter but there is a big chink in there. To manage the risk there will be a major outreach because we can manage the risk. Until you go the number you dont know the number. Moving forward with challenges and we have normalized thinks out there so the challenges are the big threat challenges are quite deminshed from previous months. Again, we always have to wrestle with the schedule and as i mentioned recovery schedule in place. We continue a strategic overtime elements in the floor. The trazal floor has a lot of medal dividers that are design jz laid out in the field. Devised a manner in which to law them out in a modular fashion and get a running start on that and that is just one element in our strategy that decompressed the concentration of activity out in the grand hall, which was for a long time the Critical Path that we have been focused on. So, a lot of thinking along those lines. Training. We started biweekly meetings with ac transit and other Transit Providers. I think we are starting to get dialogue and traction along looking at what their expectations are when they are arrive in terms of training, it provisions, layout of what minor tenant improvement that may happen along those lines. So, as dennis mentioned, i think this presentation will demensh on the heavy construction piece and expand a bit on monitoring or informing on what our thoughts and strategies are insureing operational readiness. I developed about 4 our 5 slides for next months to kind of demonstrate our line of thinking and some of the things we initiated with the transit operators how to tackle thal that challenge. On that issue, i r you working closely with ac tenant impruchb provement . I understand equipment and furniture, yeah but in terms of the wiring and all the stuffthat will be all be done . Exactly. They may populate it racks with their equipment so need to tease that out. Relating to ac transit there isnt tenant improvement there is a prefabicated Supervisors Office to generate drawings. The ti work is related to golden gate transit and one other gray hound. It is fairly minor. I think the most of it is gray hound and golden gate in terms of the second floor build out for their space. It is relatively minor but needs to be teased out and advanced and ready to get a running start with the master lease when they come on board. Trying to get them as soon as possible, looks like early next year, there is not to get too far ahead in terms of the slides im developing, but there are Three Streams of activity on operational readiness. Getting the transit agencies prepared, working with the master lease and others how to operate the building, stationary engineer and housekeeping and security and third stream is focused on retail, leasing, onboarding and ti Work Associated with that. Those are the streams of thoughts and trajectories we are developing to advance through the next year on being operationally ready. I know that there is a lot of phase two impact on what i think was highspeed rail announcement a couple weeks ago they will put in 800 foot train instead of 1400 feet or 1200 feet . We were built out for a much longer train. 600 or 400 meters right . At the moment they operate 400 meeting long trains. 400 meters . Nilthsly initially they start with 200, half a train. 200 meters long and can fit them in easily. They have not given up on the idea of the longer trains, it is only the initial start up. The announcement was every other station, not ours. What was the length, 200 meters . Yeah. It was 400 and now 200 meters . I dont know how it is supposed to work, it every other station can only support a 800 foot train, what is the likelihood they will run 1200 foot trains or whatever it is in San Francisco . I think you are right, but they wont admit to if at this point. [laughter] they are negotiating in los angeles. I they look at the Transit Center and seeing capacity whether they can store trains there or not. We need to have more discussions with them before we thats why we pay him the big bucks it will be a long day. I just bring it up now. We look at mitigation strategies and i dont know that there might be something even at this stage in terms of what we are building or finishing we can say my gosh if we 800 foot trains lets not get carried away at the end. We havent. We havent built a extension. The end is beale street, not main. That is the next stage. It in the environmental agreement. Even within the building we have much more than we need on a 800 train. We have a little more. Cal train committed to 8 car trains. They are going to 6 right now and it wont be long before they get to 8. Cal trains, how long is a 8 car cal train . I dont remember the exact number. It is a lot[inaudible] theprint stations. I see they alreadyit is it will be a while it will take 10 years or so, unlessif there is a big push on ridership, you can always put trains in, you just use different parts of the train with the stations. Yeah. It is done all over. Okay, just wondered how we were thinking about that and glad to hear we are. We are not building anything at this point beyond what we originally designed. The big empty box downstairs is defined that is how you get a impression of how big that building is because nothing in the way. Stand there while the train platform would be and looks like the curvature of the earth. You have can hear the trains coming. [laughter] that concludes my part. Thank you all. Ready for next item . Yes, police. 50i89m item 7 is citizen advisory update but understand [inaudible] there is nothing to report. With that we can move to item 8. Public comment, opportunity for members to address on matters notd on todays calendar and have jim patrick here with us. Morning directors. Jim patrick, patrick and company in San Francisco. Im concern about the politics the opening of the transbay terminal when the buses complete and operational and may want to think about those magic dates. Are the same date or different . You are going to have a closed meeting with three potential bidders for the master lease. I suggest several things need to be considered. Number