decision to decide whether or not you wanted to build that on the island. so there is a lot of confusion about which wetland was which. the two storm water treatment wetlands are being built by the developer and there will be a fee associated with maintaining those over time. one of the other stains -- things we t on -- there might be other issues, but we can open it to questions. >> i think we should refer to the mayor's office, unless there are objections.

>> good afternoon, commissioners. we are the project management entity and have been designated by the treasure island authority as a lead negotiator in order to move the project through. good we were here and if a detailed presentation about the infrastructure plans, and what we want to do is quickly remind you of the planning process we have been through and then highlight planning and now and due diligence but will -- but will have an enormous benefit.

our project consultants are going to walk through each area, but i would like to remind us of the project. yethe project description is wht was cleared in the environmental document, but was certified in late april. it is comprised of 8000 residential units, a 25% of which will be available. as well as up to 100,000 square feet of office and 300 acres of parks and open space. i will talk in detail about the public benefits.

the project will be implemented over 20 years. the puc will have the opportunity to review the infrastructure plans at a greater level of detail before discussion commences. you will see a compact development program. 300 acres of space are preserved. the entire island will be stabilized. there are setbacks to accommodate future sea level rises, and this allows for more efficient delivery of infrastructure systems. goothis as been going on for a g time. in 1997, the treasure island development authority was formed, and the development

initiative was formed as well. they entered in a cooperative agreement with the navy. in 2001, the citizens of advisory board was formed. there have been over 275 public meetings to date. this is one of the most publicly vetted projects in the history of san francisco. since 2003, we have been working with them and their team of consultants as well as other city agencies that will have jurisdiction over the project. the term sheet included a draft infrastructure plan that formed the basis of the plan before you today. that plan was updated in 2010,

and we went from 6000 units to the 8000 unit program that was analyzed and forms the basis for the infrastructure plan and the development agreement. in april, 2011, the board certified eir and adopted a resolution approving documents, all subject to final approval by the board of supervisors. o300 acres is the largest parks projects and the golden gate park. 125 in million dollars. gwith respect to transportation, a capital investment of $145 million. there is a $35 million subsidy they would pay to the authority that would offset transit costs. there are a couple of features

that are unique to the project that were authorized are rated california's first congestion pricing program. all homes will be required to purchase a transit pass. another important component of the project, which was recently impacted by via redevelopment agency is the development of affordable housing. they contemplated units available because of the switch of three-development planning arrogant to refinancing -- clennon arrangement to refinancing, we lose $15,000. just today we talk to the senator about legislation. we are pursuing a half -- path

to get a spike -- us back. we are confident we have the ability. we have revisions that allow us to get back to 30% if we achieve these legislative goals within two years. we have the opportunity to buy the site back should we fail to get legislative fixes. up to 2000 new homes will be available at affordable rates. 435 of those will be developed by the treasure island development initiatives. 315 will be in exclusionary, and the treasure island development authority and who would develop approximately 1250 units at a wide range of incomes. in terms of facilities provided, of renovated school including a payment to the

school district, a new combined police and fire station, the reuse of structures, and 3000 square feet of additional space including senior centers. there are enormous economic benefits to the city. approximately $80 million will go to the general fund after expenses are handed out, and approximately $3.3 million annually until financing is completed for the project. the land payment by the developer is a clause of our agreement, about $118 million, and of to 10,000 new

construction jobs, as well as approximately 3000 permanent jobs will be created. in terms of the breakdown, they are primarily in the service industries sector. if there are about 535 services. when a thousand 100 services end civic community services and facilities, abruptly 335. there will be 95 transportation- related jobs. in terms of public infrastructure being provided, of approximately $180 million as well as the geotechnical improvements to over 105 acres

of development area, 3 miles of seismically strengthened perimeter. we will talk about the sea level rises. i am going to talk before turning it over to the consultants. i want to talk about the approach to address sea level rise. the first was cite specific conditions related to high rains and waves. in conducted a study and extensive modeling within the central debate. based on that study, there is a two-tiered process. the first as the initial improvement provided as part of the infrastructure.

this will happen in an incremental manner, and it is contained in a couple of parts. we will accommodate up to 36 inches of sea level rise plus an additional 6 inches. we will also be elevating and retrofiting the entire perimeter of the island to account for sea level rise up to 16 inches. this is important because it balances the mandates to maximize public access to the shore line and providing our reasonable level of flood protection. as i mentioned, the development area is anywhere from 200 pager 350 feet, -- 200 pager 350 feet.

the final -- 200 to 350 feet. the final is to fund the capital as well as maintenance costs, so all of these will be delivered at no cost to the puc or at no cost to the general funds or tax base. a sea level rise up to 16 inches. the storm drainage system will remain trained. once we get to 16 inches, the shoreline will be raised to prevent a problem. and now they will be maintained. above 36 inches, the entire shoreline a dish and will act as a levy. i mentioned the development said

iraq's -- said bias -- setbacks, and the final plan includes a mechanism to create a steady stream of funding dedicated to the strategies and operating expenses. the additional improvements are about $7 million to get to stage one, to provide improvements that would protect of to 36 inches of steel level rise. -- up to 36 inches of sea level rise. improvements equal $38.2 million. we have done some analysis to look at what if you were to raise the grave today to protect against 55 inches of sea level in ras -- to raise the grade o

today to protect against 55 inches of sea level rise. also to raise the entire perimeter 55 inches raises a number of urban design issues and issues related to the existing school. you would have retaining walls along the campus, and drainage issues associated with that, and walls of for to 5 feet. >> the initial improvements for 7 million -- worth 7 million. if you then make improvements, is that $29 million? >> 29.

but >> and then an additional 38? >> going from 55 would be an additional 8.8, so to get us from what is provided initially totals 35.2 million. the initial is the cost associated with the perimeter improvement. they do not include raising the grade at development areas. >> if you were to do it now? >> approximately 73 million, so about double period -- about double.] >> we will come back to that. >> before turning it over, i

want to highlight a recent report that came out the addresses climate change. it includes climate across six sectors, transportation, ecosystems, energy, water management, and sea level rises. agaithe report includes a recommended a series of actions, and i want to walk through each of these with you in a little bit of detail and talk about how of a project complies with each recommended action, so the first one looks at planning departments to undertake a short-term risk assessment and that those should include a range of sea level rise projections for the middle and end of the century, and that they should be prepared and updated every five years.

we have done just that. we have looked in the ninth presented. and we have undertaken a coastal flooding report ourselves, and the requirement to update every five years is consistent with these provisions. do not know permit new herriot's identified by local risk assessment as -- new areas identified by local risk assessment of the vulnerable unless certain criteria are met. those three criteria the project complies with our natural resources restoration project, underutilized land within an existing urbanized area served by transit or within the existing priority development

areas. it will be served are robust transit and bus service to the issei as well as san francisco common and -- to the east side as well as san francisco, and finally through design and financial strategies. we do both. the next one is to develop fee level rise flood protection plans, utilize local risk assessment and innovation map to plan for sea level rise and include those in the safety element position and non- structural methods should be used. we have done this starting with the report, and as detailed in infrastructure plan, developed

plans for initial improvement as well as long-term implementation strategy. we also comply with this, requirement that public access to the long term. this should require it to remain viable through elevated pathways, and we will show you thsome of the sections of how about access will be maintained. -- some assessment of how the access would be maintained. finally, that would be updated with new regulatory agencies and no less than every five years, and in terms of some of their strategies that are recommended

to address or mitigate future sea level rise. coastal armory -- we are doing that through improvements of the sea wall, elevated and development by raising the sea wall 36 inches, and finally, the living shoreline's or wetlands. you will walk through in detail the northern shoreline and how it could actually accommodate new wetlands in the future to accomplish this objective. >> can i ask you a question about the wetlands? there are three sets of what land already, but an official and one for climate change issues -- an additional one for climate change issues. we would have to reassess its, right? >> you would essentially be moving the armored sea wall

back, and it could wrap around the existing facility. they will be required to deliver an elevated pad consistent with the elevations, so you will get a pad at 36 inches above the current level. >> the siting would be done jointly? >> we will work together. it is subject to this future agreement. if they decided to construct a new facility on site, it could be done in a number of ways. it could be replaced entirely. if it was replaced, it would likely be adjacent to the side. before i turn it over, the sustainable above and policy director was here earlier of your your -- here earlier.

i want to read a letter on this sea level rising of approach. finally, the new perimeter rock wall designed to protect new treasure island from c level rise is innovative. the only certainty is that it will increase in the future. it is prudent to use adaptive designs that can be modified according to future conditions. treasury island ' is smart, because it allows us to fill treasure island ' is smart, because it allows us to -- treasure island's idea is smart, because it allows us to build higher in the future. and i will turn it over to walk you through the sea level rise and tsunami risk level we have done and finally, todd adaire

will talk about the existing and proposed rates relative to facilities. good >> when you said revenue- neutral, what did you mean? >> the project is financed through a project-generated revenues. >> that is how you offset the revenue neutral? >> and then a community facility bonds. >> of 55 inches will be taken care of by 21 -- this will be taken care of by 2110? >> based on the guidance we have received, that is what they are projecting by the end of the century. the improvement would likely take place before the end.

>> how long have you been working on this project? >> for years. >> well done. >> who is going to be paying for this? >> the city is authorized to issue those bonds. those are paid for by reassessments with property owners on treasure island. >> don't you think is the level is going up the property levels might be going down? >> not here. we are better off than many a low-level areas throughout.

>> you do not think the property values will go down if the water starts laughing at -- lapping at that mark, >> if we are successful, we will make those improvements are to water spilling over the edge -- prior to water spilling over the edge. >> does that mean if you own property you will get an additional tax? >> that is correct there is an assessment on top of the tax rate. once those bonds are retired, the seguin can pay for these improvements triggered --

improvements. they are backed by property owners. >> i have a question. it talks about when the sea wall was constructed. something could be put upon it. is that going to be done? >> there is probably of mixing of terminology. and along the marina and the input, we are more constrained, so you would

see an actual seawall similar to what you would see a long the embarcadero, so the similarity it would be raised. what we are talking about is an elevated area there, and we will show you how that can bee widend to provide public access along the water's edge. >> it was not decided to do a taller barrier, because that would be bad. then they talk about a monitoring program. is that going to be incorporated herrmann -- inc.?

>> one requirement is that they do a program that looks of the existing record that makes recommendations for improvements over subsequent five years and the funds necessary to make those improvements. >> the final question i had, and i must add that my mother was there, and we were flying airplanes to china during your -- to china. what about the traffic of, how are we going to manage that -- what about the traffic? how are we going to manage that? >> we have a number of tools in place.

they would be charged a fee for driving onto the bridge. ultimately, they will meet her common-law -- meter it, so they will control coming and not on and off of the bridge. youit will access as a stand-ale entity steve. and will have at its disposal of subsidy to pay for transit, which includes the ferry to san francisco as well as a shuttle and transit to oakland.