discuss that issue. >> interesting comment when we started this when two folks were taking care of this one of the issues was what to do with maximumizing the park space and it was decided through that process by closing the northern stub of fantasia way boulevard and providing other access south to that the park could be larger and more significant there was a design decision made to eliminate the stuff of the fanning was boulevard and use it as park instead. but there's a street that's a little bit south of there that you can use to traverse back but that design decision has been

consistent throughout 0 the promise since 2007 and quite well received it eliminates vehicular assess and that's a good trade off in this case. any other comments >> so you haven't been doing too much. thank you very much for the presentation and all the work that's gone into it the staff our mayor's office and economic workforce development and the developer team. a thought of that's gone into this really shows. i like the effort that's been made to partner with bring the smnz and partnering them with larger ones i know that's the

trend i want to see other fellow and it makes sense i'm sort of speaking for my colleagues but providing up to this point for our small businesses in helping the smaller firmed gain that leg up in experience. so along those lines this is a bit premature but i'd like to talk about the tenant that will be moving into those side doors sites in our kranth we can go and do the l.b. remits but i think one i ever tell things we want to see is the kind of approach in helping the local businesses have you given any thought to how some of those businesses and local folks can

be given some opportunity as well >> thank you commissioner katz in the event we think that good business we've been talking about this to the mayor's office being smaller than retail spaces to encourage and help small business so they can be viable on the site which motive mean subsidizing or having lower market rent if you manage the retail has a whole you want it to be successful as a whole and not a lot of vacancy and a lot of street life so people can see diversity. a lot of retail it's the same places when you go so this is a major emphasis for us. one of the things we're talking about with early activation is do mike lending with buses that

doesn't afford the start up costs but could occupy a part of a shipping container. and we've had a lot of ideas for example, you could build out a small restaurant but have it rotating and someone who doesn't have the money to buy ann all the equipment but if their skills are good enough they, get civil rights. it's to be viewed and accepted by san francisco. very discriminating tastes san franciscans have bowl do better >> that's sort of a leading

question. i know this is one other question i have i appreciate your approach to more fathers and building on site but another issue is front and center is transportation, you know, looking at the portable of the loads in the area that are somewhat stressed it's never too son to start figuring out a bolder approach to the transit issues we'll be facing can you talk about that it will be part of the eir if you could address that a little bit >> we got our traffic data this morning. one of the things we think this site is amazing and offering is transportation. obviously we're is cough of

blocks from cal trains you'll get downtown in a couple of minutes. in terms of public transportation the infrastructure is there. the w ta i know that pooefrt albert the city has briefed you all on. in terms of the behavioral patterns we've got a lot of opportunity with tenant and resident and employees two we're working with the planning department and mta to look at ways to encourage bicycle sharing and car sharing we've debundled it so if you represent here you don't automatically get a parking space it's a for you. a couple of those trends that

are across the nation we're starting to see see reduce dependency open private auctions and encouraging a mixed mode we're encouraging on working on. i'll add in your studies i think it's on option to look at revised or all the evidence transportation which the city has seen changes in living or work patterns whether adding a new line or scombrauft an exciting lines. the 22 lineup is soon, you know, to be extended into this neighborhood is is a a wonderful thing and we think the community members are grateful >> thank you very much for your presentation. >> i just want to say thank you

for the investigated presentation. i like the ways you do the outreach to everyone. i think commissioner katz asked the questions i really wanted to ask. parking underground i like that will all the paring be underground >> no, not all the parking it will be in d which is the south part of the site. we can take parking out of the podium of the neighboring building you don't have much of 0 retail if you take the underground parking the street life becomes better we'll have structure of parking above the level but there will be more

ground parking >> with 9 concern about arriving seawall i won't use the term reservoir. >> (laughter). >> jackie like the transparency and appreciate it and like the concern that commissioner katz brought the long-term at any point of the folks you said something i like i said willy that's good business. you've been methodical in your thinking so continue to move forward i like what you see >> i oxen what my fellow commissioners said it's been a thorough presentation. and congratulations on exceeding the l.b. eco by the way, what

does that mean in terms of dollars >> (laughter). >> it might be something we can foul with a precise number but over a million dollars. >> a million dollars spent total and 14 percent. >> no, it's commented toward. >> will you residency that. >> we spent an estimated million dollars a l.b. e firms to date. >> great. and then like any fell commissioners into the small business thing is great i'm glad your reaching out to the champs and hopefully, you'll get other ruffles so thank you.

well, i'm going to a sound like i'm echo and indict to. thank you for your presentation are i think the whole strategy of reaching out to the small businesses i know you want to make the neighborhood a little bit different so if it's going to look like every other neighborhood it's not going to be special it is to be diverse whether it's small or big but you have to have some characteristics. my other question are you considering pop up to get other folks interested in the site. you're going to tell us more but is it a specific site you're going to be picking for the skwechl >> it's not something that's ripe for parole but that is to

sort of draw a visible line from pier affirmative action 48 to the bridge we could paint a green line to show where the future park would be but to take that line and send a message about what is project want to be in the future in terms of the type of businesses that can go in the pop ups. as you know if you're in the radiance in other housing locations there's not a lot of amenity to walk to so we think there's a market beyond justice the baseball game crowd for some business. so we're looking at starting small with a few shipping xharnt and seeing how it goes and perhaps expand and they can be

moved so we know move them around the site potentially. why in and out think creatively outings outside the box, if you will, while we're waiting for the approvals >> when will anchors teem be operational. >> well, as soon as the project is entitled our goal is in 2015 they'll start on their project right away. so in terms of p of when this brewery will be open 9016 is the the goal they'll be the leading edge of the project. it's quite something in the beverage describe and a great partner for the giant overall the ball is the greatest

connoisseur of this pursuit. you want to be able to capture some of that >> that's the thought to provide some interim space people can joy the projects be approved. >> okay. thank you very much. >> okay item 89 a requests to the project for the africa desk a departmental dell incorporation located at pier 9 subject to approval with the board of supervisors. >> good evening court leasing manager. i'm seeing the approval for the items read by secretary. auto demonic occupies 27

thousand square feet at the pier 9 and pays an annual debt of $443,000 duo to date they've made a if $24 million 1ri6789 for improvement. they've made improvements to the south side of pier 89 and the port is currently rectifying the plan for a paperwork let located on the portion of the pier which is a condition of the ac/dc permit. autodesk is proposing to add an additional 34 hundred secret of space which is for the purpose of constructing it's robotics r&d lab. the third requests autodesk to

investor into the space because consideration for thought development the provide a period for the purpose of the involvement and also a representative be credit in the amount of $440,000 the net capital improvement by autodesk is $1.6 million. the amendment provides a rent to the port and the third amendment is subject to the board of supervisors approval and it brought before you because the term, the rent consider exceed the rent portion perimeter. that concludes my presentation >> thank you. >> so moved. >> second. is there any public comment?

any discussion by commissioners. well autistic desk is a great client or tenant to have so we are going to say all in favor >> i. >> i. >> item 10 the issuance of san francisco revenue bonds to fund certainly improvement in the aggregate privilege not not to exceed $30 million not to exceed 12 percent to the indid you form an opinion of trust between the board and trustee and 3 the negotiated sale pursuant to a bond purchase contract and to enter into the contract team and 5 the form of a bond purpose k5k9 nooifd not to exceed and through the interest costs.

>> good evening. i'm here this evening with christen chu our financial viruses and bond council and given the late hour i will try to make that as brief as possible. i'll be back on january 14th for the premier statement and will give the commission additional time to ask questions at that time. this financing plan is not now a to you open may 14 of this year you approved the cruise ship terminal. at that time, i was asking for a amount of 24 u $24 million and now thirty all to reflect the ability to address potential

market urban certainty by the way, there are no change in the project fund requested. the approval i'm requesting is the the issuance of the bodies for not to exceed thirty million a second supplement of induplicative trust and bond authority for the executive director to enter into a contract with the under writer in the form of the purpose argument. as you're aware one of our biggest changed of having limited resources to addressing address an aging infrastructure. and there the ports policy through our private partnerships. the capital policy loudest us to address the chronic infrastructure meditates and the

debt helps with the strategic facility. we're balancing the need to address the repair replacement with the deserve to help with the enhancement. we first identify where the capital projects are. as i said they support our revenues. we looked accident coverage in terms of net revenues related to the debt services. we look at our ability to forecast the tools and meet our operating expense and obviously our debt payment and to fund on the one hand our ongoing programs. regarding our outstanding obliterations we have

$75 million outstanding between your bonds and certificates of participation. our annual pavement a are 5.6-hundred million dollars. the proposed bonds will fund the cruise ship terminal and 3 million prejudice or bias for the historic program. there's bond issuance program for a total anticipation uses of 24 mole and an additional authorization to deal with any uncertainty in the market for a total authorization of thirty million. we expect the issuance to be around 29 million. our crews ship terminal this is the total budget by the various component of the project and just to reiterate this is very large scale investment that addresses the park and maritime

short power etc. one thing to snoet that we while it's a large development we have any other funding funds 20 percent from the city through the voter and general obligation bond and a direct payment from the bond. this is the phase two sources and i can see the revenue bonds highlighted at the 19.5 million and it's a 50/50 split between port soured. we did a good job at getting other sources and support for this project. the northern waft historic piers when we were here in may he said we wanted to find some improvement we can delivery sup

>> i'm happy to recommend this is deal with super struck notices and it's currently red tagged it's a historic fatality and on the national historic district so it's a win-win to find an economic project to bring this jewel back into at large use wore we're asking for more fund for reagan occupant u up to this point for other america's cup or other tenants. in terms of annual payment this brings us to outstanding debt which 899 million of annual debt in the first 10 years.

your budget for another assumes 7.6 million with the ability to meet our 20 percent. in terms of where we think the pricing and rates will come cabin the currency market and your credit we're estimating the rate of 9 percent and this shows the blending rate for the nodding bonds 6 on the 6 is percent and in a torture market and even though recent sale is obviously relying open the city's consider. terrorists are going up but it's a excellent time to borrow. this slow down shows coverage. we show it by our bonds and it's

the way we analyze it and added in the certificate of participation and one increase in the par amount. and i can see that we're maintaining really good coverage with the portfolio but excellent coverage when you shrewd i include the certificate of participation. in terms of our bonding capacity this slide show us the passenger facility and it supports 16.8 million that will be pill on the bonding capacity so our current bonding capacity is 48.8 million will be reduced to 7.8 million for a new capacity of 6.1 million we shouldn't

issue this debt today but that's what coverage suggests we can do. in terms of structure it's thirty years the taxable debt will be a.m. terrorized in the ferries year the structure is proposed to lower the overall cost support. the second supplement of indenture our security guard 80 asked to be approved today and once we've got a negotiated sale we'll come back and report to you. in turn of next steps we'll be meeting with the rating agencies in january and february and will present the ports financial picture. they'll present their rates they'll give the credit recommendation to the committee and we'll receive our rating.

we'll be coming back on january 14th all of the estimates projections i was showing you is based on february 28th and we're fine tuning and go through the board of supervisors and post the preempt statement and sell the bonds in march or february if bore lucky. and so i'm and the team is here to answer any questions >> so moved. >> second. second >> any public comment? commissioners any questions? >> must be the time of day (laughter).

>> great presentation and great transparentcy good job easy to understand. >> all in favor, say i. >> resolution is passed thank you. >> item 11 new business. >> any new business from any commissioners? >> i want to at this point thank the sxheb and commissioner katz and executive director to our fine staff. thank you. it's enjoyed working and i'm looking forward to 90 fingerprinting >> this was lovely. okay. this is at the last meeting of the year doesn't feel like it doesn't it. you're the president >> happy holiday to everyone.

it's be it's been an nightmares where we had the moratorium and the america's cup and a lot of activity. we did a lot of work on the maintenance side and even though engineering. we had the one hundred and 50 anniversary it was really yesterday so it's been one of the most active years even in my short time on the commission. i think we, feel like a well deciphered holiday is coming up and yet we have obviously lots of great issues and challenges that. today, we heard a couple of them we've got more coming in n that regard. we have a lot of transactions

we're looking at the streams and i think that is going to be interesting as we chart the course. and on the financial side i'll discuss with monique whether we have a more strategic discussion or where we're heading we can take a breather now. i'm reminder that because i got the audited financials and a there's some trends in there we have to be mindful. i want to thank my commissioners i've jousted working with each of you. i i know you have your interaction with the staff but in terms of interactions among commissioners we've been able to talk through them even if we have differences