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Are looking at early 2019 before there is a possibility of a payment default. And as a mentioned before that, before we got to that point, we would have undertaken the process, issue a tax increment and that will return to the bridge financing before returning to the bridge collateral. And so the remaining actions to close, and mtc does have to finalize the approval of the quick claim amendment and as i mentioned that will and should occur next week. The oci, and the city, and the board of supervisors do have to take some legislative actions, and because the city is a party to the option agree...

Whoever is providing Risk Management guidance and recommending that we have at this point and that seems like it must be substantially under that at this point. So the projected balance, after and the packages that come in the cng budget and we are assuming that based on the experience with the three or four bids we will come in the estimate and the remaining balance will be 85. 2 million, which is 31. 8 for the construction contingency and, and 50 Million Dollars in Program Reserves, and the fta, and latest report that was in june of this year, and recommended a balance of 159 Million Dollars...

Are defined by the state and what that means are infrastructure work, but primarily that will affect us. And finally, on a federal level, the u. S. Department of transportation did recently enact their federal rules to 49 cfr regarding the Disadvantage Enterprise Program and those changes were intended to eliminate fraud, control ownership and control criterias. Whats unique and may have an impact for ourselves is that there is now a rebuttable presumption that if someone makes more than 150,000 they are no longer considered socially disadvantaged. As i mentioned earlier we no longer certify, ...

And we have the representative for the court and the joint powers board. And with that, director lee, and here. Lee, present. Director nuru in present. Harper present, and kim . Present. Madam chair you have a quorum. Do we have any communications or board of directors new or old business . Good morning, directors and members of the public, would i like to begin by thanking mayor lee, and the tax rates that were introduced in yul july and i would like to thank all of those in the process, and i have been in with, and working along our side and helping to move the project along and thank you ve...

Negotiation agreement, attempted to attempted to do. It outlines the terms that were in the developers proposal. And commits ocii to negotiating exclusively with the selected development team. During that time, the ena time, the team will work on the designs and negotiate the finer, that will be executed in march of 20 is 3, and they are required to pay a 500,000 deposit to pay for the staff and legal costs. During the negotiation they have to meet the contract requirements and things like that. I just would not like to see a repeat of what happened on the tower, the transbay tower, where it c...