SFGTV February 16, 2013
Operationalize what had been a longstanding problem for the program and that is, that the city puts up a matching amount of money for the surty to back it with a letter of credit with a bank agreement. And as part of the project, the individual project bidding, the contractors sometimes could not take advantage of the program, because the project was already at capacity. They did not have the money to put aside for the actual backing the citys piece of doing the program. And so, we worked with the hrc, the Controllers Office and the City Attorneys Office and we came up with a solution to creat...