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Caltrain they dont see that but youll see on the slide the area half mark radius there are one hundred and 80 thousand jobs compared to other figures of jobs open fourth and king about a tenfold difference the other thing on the aerial part of the city this is a few years old the area north of market is built out not a lot of room to grow its a long term grossly goal to shift into the south of market neighborhood. You saw this slide earlier during adams presentation but it shows that were having tremendous success many buildings underway and another 8 residential buildings south of the district plan in the rincon point hear so the shifting development of south ward this is a major generate our of the revenues for the attributing project it was parcels were able to sell and those revenues go toward the funding of the project and a tax increment from the tjpa thats zones one and 2 the 6 red dots are the parcels that were up zoned so again, its been discussed that up zoning allows for tal ....
A lot of people that dont use caltrain they dont see that but youll see on the slide the area half mark radius there are one hundred and 80 thousand jobs compared to other figures of jobs open fourth and king about a tenfold difference the other thing on the aerial part of the city this is a few years old the area north of market is built out not a lot of room to grow its a long term grossly goal to shift into the south of market neighborhood. You saw this slide earlier during adams presentation but it shows that were having tremendous success many buildings underway and another 8 residential buildings south of the district plan in the rincon point hear so the shifting development of south ward this is a major generate our of the revenues for the attributing project it was parcels were able to sell and those revenues go toward the funding of the project and a tax increment from the tjpa thats zones one and 2 the 6 red dots are the parcels that were up zoned so again, its been discussed ....
Come parable highrise sales prices. At the hearing on september 12th, the commission inquired whether the 13. 85 million is reflective of todays values given the price increases that have occurred, since the analysis was finished. It is difficult to say how much real variation there will be in the values for a number of reasons, first the project is unique and it has a variable set of come parable property and there has been evidence of significant activity and price increases in the middle of the market, there is less evidence at the high end of the market where this project is located and therefore it is difficult to say how much if any the values for this project would have increased over the last year. And second, the value of the bmr units may also increase in the near future as the incomes are expected to rise, and such increases in value could mitigate the increases in value for the market rate units and third the analysis is based on the project that is still under construction ....
For phase two, and in the downtown extension. And is the melaru the condition on getting this loan . No. We are covenanting in the Credit Agreement to work with the city, to the district and we cannot control the formation of it but we do covenant in the Credit Agreement that we will undergo or undertake our best effort to insure that the district is formed. And of course, you approved the executive director voting in favor of formation that was our last meeting. And just by way of background, director on the status of the cfd, the city board of supervisors has taken two of the three legislative actions that are required to form the cfd and it is schedule a special election, for closing on december 29th. And we anticipate that the city board of supervisors will take its third. I understand that. Okay i just want to and if we prepay and everything goes well, and on the yea ....