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Legal be combonlt stopped it from the full term caught between a rock and hard place the Mayors Office has identified this as one of four important projects in the Mission District and were working with the, in fact, weve got a meeting with the mayor on thursday to look at feinsteins opportunity to get the project underway. Okay. Thank you do the commissioners have any questions. This loan is going on for a long time is it a loan or grant . Its structured as a loan but it is structured so it can be forgotten at the end of the term if all conditions met in if not due what are the conditions. Th...

And was very generosity impressed but worried and concern ill put this on record this is perhaps not an answer to freud would that asset essentially when its sold it is sold in the open market at market no conditions no Market Conditions to make it an affordable unit of its from the Mayors Office and your correct someone else can probably do a better answer but from my prospective and the translation before you the braid has my understanding theyve voted to authorize the sale but this is as far as it goes so n nc court so unless theirs negotiation once the loan transfers to occ but this is the...

The full build out will have 2 thousand and 64 units. This is the 29 opts. So applying the 20 percent were required to have 5 hundred and 93 units and the developers are required to build a percentage. We have 6 hundred plus unit more than the ot a required so were over leveling percent more than the original that was required. We have 20 more than the o pa. This is; however, while the master developer has succeeded those a theyve not provided the breakdown as required. They built one hundred opt above that was required so even though we have 20 unit more if you do the math we have the last re...

Confirm its appropriations limit under the gan provisions. In this calculation we have done, it reflects through calculations allowed by the state code that we have a 3. 77 local Income Growth and an 0. 4 0. 47 population growth and this allows for combined growth in the gam limit from the amount that you established last year of 2. 53 billion to a new level of 2. 63 billion for fiscal year 1213. Under the allowable calculations, we have shown that the budget for appropriations that are covered by this is at currently 2. 47 billion, so this reflects a level still 168 million below the gam limi...

Controllers office. Ill be very brief and happy to answer questions. This resolution before you is required by the california constitution and government code. Each year the city needs to confirm its appropriations limit under the gan provisions. In this calculation we have done, it reflects through calculations allowed by the state code that we have a 3. 77 local Income Growth and an 0. 4 0. 47 population growth and this allows for combined growth in the gam limit from the amount that you established last year of 2. 53 billion to a new level of 2. 63 billion for fiscal year 1213. Under the al...