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Million in net tax increment and so not enough to go out for a short term loan. On our own and be solely backed by tax increments. And the tifia loan does have conditions for disbursement and the two key conditions are selling 429 Million Dollars worth of the former state owned parcel and we are at 222 million now with the sale of parcel t, last year and 2013 and the block, 6, 7, this year and we anticipate reaching the 429 next fall, when blocks five and eight close in september and october respectively, dem nation of the full funding for the project and you will recall, approving the tifia a...

Term repayment source, for a long term loan like tifia with a 35 year plan and, we have a rating for a 35 year loan with tifia and it is not a mature, credit, yet. Though. And we received our first tax increment this year, about a million and a half dollars over the next four years, until 2018 and it has paid it that we will collect about 9 and a half million in net tax increment and so not enough to go out for a short term loan. On our own and be solely backed by tax increments. And the tifia loan does have conditions for disbursement and the two key conditions are selling 429 Million Dollars...

At that time, and early 2015, we have the cash flow needs and we need to certify the contracts and keep the project moving on schedule to maintain our schedule and we did as many as you know, did request from tifia has far back as 2012, that we be able to draw down on the loan earlier, and perhaps, in proportion to the amount of land sales that already had been achieved after months of discussions, they were not able to accommodate that request. But they did agree to amend the loans to allow us to pursue a bridge financing to get us to the tifia draw, point. And that was, a key item to be able...

Thank you, mr. Rose. Seeing no other questions we will move on to Public Comment. Anybody wish to comment on item 10 . Seeing none, Public Comment is closed. Weefr an amendment. Sure, motion to approve the amendment and approve the underlying ordinance and thank the dp w4 keeping dpw for keeping this project going. Mr. Chair, i would like to request dpw provide us with the amended legislation before 9 00 tomorrow morning. Item 11, resolution approving modification 1 to a operating agreement between Signature Flight support corporation and the city to extend a lease by 5 years for an estimated ...

The operation and management of the airports executive terminal. Signature currently provides currently to sfos general aviation customers which includes retail fuel sales, Aircraft Maintenance as well as all management aspects of the Executive Air terminal building as well as two hangers. Modification no. 1 would extend the term of the existing agreement by 5 years beyond its current expiration in 2017 and require signature to further renovate the terminal building as well as two hangers. The existing agreement is the ruplt of a 2007 competitive request for proposals process and this extensio...