Thank you. The next order of business is consent calendar authorizing the executive director to enter into an agreement with the city of San Francisco i city ac throw the Mayors Office of community and development a 250,000 between the Neighborhood Center and the formal dissolution law action 90 madam director. Good afternoon, commissioners and New Brunswick u members of the public thank you for joining us commissioners this is a proposed assignment of on Economic Development loan to the center made in 1994 certainly like as weve seen a number of items got catch up in dissolution and at this point we are recommending the assignment to the city as the housing successor so the citys plans and missions neighborhood plans for Affordable Housing project in the mission at the 24th street location can happen with that, id like to ask clinical 10 the Senior Real Estate developer specialists to walk through the background and the proposed actions for your consideration. Thank you director bohe
Action 90 madam director. Good afternoon, commissioners and New Brunswick u members of the public thank you for joining us commissioners this is a proposed assignment of on Economic Development loan to the center made in 1994 certainly like as weve seen a number of items got catch up in dissolution and at this point we are recommending the assignment to the city as the housing successor so the citys plans and missions neighborhood plans for Affordable Housing project in the mission at the 24th street location can happen with that, id like to ask clinical 10 the Senior Real Estate developer specialists to walk through the background and the proposed actions for your consideration. Thank you director bohe and good afternoon, commissioners over the last several years the centers have been 2, 3, 4 discussion with the Mayors Office of housing and Community Development on a property 35 unit Affordable Housing project for protecting households on a property on 24th street in the Mission Distr
Was not dlofrdz until i reviewed the loan document and brought it to the council more and more wills this was a mistake that had been made in 1994 unfortunately yeah. Do you have any questions i want to raise before the impanel supervisor bustos thats not here. I have questions so when we make this loan there are interests payment that have to be made were those payments made and the Interest Payments under the loan are only made in it was in default and custodial due otherwise no interest payment. No Interest Payments so thank you sure. Supervisor bustos is not here obviously he had a a lot they couldnt avoid and was committed to before articulating on the commissioner duty he expressed a concern from his prospective he was concerned that a building on balm i didnt was being returned to the market 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 mark
Accommodated under a seismic event so some of the deep discussions with a renewed focus on what we as a city are going to be doing with the seawall were not independently protecting a seawall by our trains have to get through the solution of some of those will solve the problem for many of the citys assets and private assets will have to be done at the citywide level with regards to the seawall well look at seated specific solutions for example, metro east well contemplate expanding eastward with the new process in place as we start developing that new project what kinds of measures to protect the expanded facility and maybe by expanding the Sea Level Rise destine it from the start the portals when i saw those two years ago my to thought was the ferry portal with the new portal will be significant points. I mean it makes i glad our Electricity Supply is up top and not below like bart that is primarily the system shut down with the water and electrical route but if i can indulge for one
Action 90 madam director. Good afternoon, commissioners and New Brunswick u members of the public thank you for joining us commissioners this is a proposed assignment of on Economic Development loan to the center made in 1994 certainly like as weve seen a number of items got catch up in dissolution and at this point we are recommending the assignment to the city as the housing successor so the citys plans and missions neighborhood plans for Affordable Housing project in the mission at the 24th street location can happen with that, id like to ask clinical 10 the Senior Real Estate developer specialists to walk through the background and the proposed actions for your consideration. Thank you director bohe and good afternoon, commissioners over the last several years the centers have been 2, 3, 4 discussion with the Mayors Office of housing and Community Development on a property 35 unit Affordable Housing project for protecting households on a property on 24th street in the Mission Distr