proud to say that there was no disagreement with management. we did ask for and receive a management representation letter from the management prior to the issuance of the report. and we were not aware of any consultation with other account ant and finally, with regard to other information, presented in these financial statements, that were or are outside of the basic financial statements our roll is just to review them, and point out any discrepancies or in consistencies and there were none, and with that, there were no, current year comments, but we did provide a update of prior year comments which are in the attached letter and both were corrected and the only item that continues to be on an ongoing project would be with the implementation of 68 which is on pension reform that is not due until 2015 and it is going to be a significant task on the staff and we applaud their efforts in keeping track with that. that concludes my formal

remarks and if there are any questions or comments he will be happy to answer. >> any questions or comments? >> seeing none, we will open item..., did you want to say something? >> i just wanted to mention one last thing that you should be aware of, this is the tenth audit in a row that we have had a clean audit, especially with what happened last year, i had two, and myself and my staff were two new moms and it is great that we were able to maintain a clean audit and i would like to extend a special thank you to my staff and we band together to share and kept everything clean and especially the knowledge and we and kelley, my account ant and without them, we definitely would not have a clean audit this year, thank you. >> and congratulations. so, we will now open it up for public comment on item four, is there any public comment? on item four, come forward.

>> >> good morning, commissioners we are fellow commissioners my name is jackie sacks and i have been on the advisory committee since 97 as you all know. i have been very familiar with these audits that they have. and they have gone, they have, i have approved every one of them. and i hope that you do the same, because it is worth noting, thank you very much. >> thank you, very much. >> is there any additional public comment on item four? >> seeing none, public comment is closed. colleagues, could i have a motion to forward item four to the full authority with positive recommendations? >> okay and, we will talk that

without objection. >> could you call item five? >> recommend the award of an 18-month consultant contract to tyler technologies, inc., in an amount not to exceed $415,000, for implementation, licensing, support and maintenance services for microsoft dynamics ax 2012, and authorizing the executive director to negotiate contract payment terms and non-material contract terms and conditions. this is an action item. >> cynthia the financial director, and this starts on page 85 of your packet. in line of with transportation authority, the plan that you reviewed in june, we are bringing but you the erp enterprise resource planning implementation. this is the implementation of new accounting software for the transportation authority. and we have had the system called fun ware for the last ten years, back then, a non-profit system was the best system suited for the transportation authority. in the past ten years, we have

been growing and we had more project and more responsibilities and we have currently out grown our accounting software, we started to look into new software and i took a look along with the staff into four softwares that fit the needs of the transportation authority. we met with them and had some discovery sessions we were able to play with the software and from conclusions of those we decided to go with the software called microsoft dynamics ax, the 2012 version. from that point, we were looking for a vender to help us with the implementation, we needed a rendor to help us achieve the four goals, to find a system, and help us implement a system that is structure for government agencies instead of businesses and private businesses or non-for profit and also looking for

implementer to help us to guide us through a new software that could provide us real time data instead of having to commingle information from various financial and accounting systems. we were also looking for a vendor that was or could help to guide us through the microsoft ax, software and help us identify how the authority should structure its processes, business processes and then lastly, we are looking for a vendor to help to implement a paperless system for our accounting practices. and we issued rfp back in august, we received a bid and the bid we met with them to interview in september, and we ended up deciding that tyler systems was the best consultant for us since they were also a co-developer in the microsoft ax system, and also have a lot of experience with the government entities of a staff

of less than five that was important to me because of a lot of implementations may go wrong in the short amount of time i wanted somebody who knew what we were doing and had experience and hads the demands that a small accounting staff would have, in terms of cost and break down, on page 91, we have a time line that we look to implement the system from january of 2014 and hopefully go live in september of 2014. and in terms of fiscal impacts, we set aside $100,000, in the fiscal year, budget, and now, the plan back then was to implement the system and some time between the fiscal year whenever we had some time we could allocate those between the audits and budgets and i saw that there would be two months that we could start with that. after meeting with the various firms we needed to start this new system at the same time we would be processing transactions for the new fiscal year. what i would like to do is

bring the mid year budget amendment we would add the different budget, of 315,000 to help to offset the cost, in terms of maintenance and support costs we ko be encuring about 21,000 each year going forward. anticipating that we would be using the system for 10 years or more. and like i mentioned we were using a system for ten years and that was a non-profit system and we could extend the life of this project. and last item that i would like to point out is this went to the cac committee on december fourth and there was a support for this item. i would are more than happy to answer any more questions that you may have. >> any questions or comments? >> okay. thank you. >> we will now open item five up for public comment, is there any public comment oit em five?

come forward. >> my name is jackcy sacks and i was at the meeting last week and i approved and i was one of the individuals that strongly supported this item and i hope that you do the same thing, thank you very much. >> thank you very much. >> and any additional public comment on item five? >> seeing none, public comment is closed. could i have a motion to forward item five to the full authority with positive recommendation? >> okay. and we will take that without objection. >> item 6. >> introduction of new items this is an information item. >> are there any introductions? >> okay. is there any public? on item six? >> seeing none, we will close public comment. >> item seven? >> item 7, public comment. >> is there any public comment? >> seeing none, public comment is closed. >> and item 8. >> adjournment. >> we are adjourned. thank you.

good morning, everybody. so happy to have you all here today and to join us for our ground breaking ceremony. i'm going to talk a little bit about what we are doing here and then make a few introductions. box 6 is a multifamily department in the south of market neighborhood. it includes a 32 story 409-unit rental apartment tower which will include luxury and regular apartments. i'm michael newman and president of our company. i'm here to represent the company as well as our partners all of whom are here today. doug shoemaker is here also representing housing which is

making affordable housing on block six a possibility. today we'll hear from doug and we'll also welcome to the podium mayor ed lee and tiffany from ocii. i would also welcome the union representative today from trust fund northern california cal -- and san francisco tc and of course all the union workers helping to build. the care takers of union pension funds have invested in block six as our financial partners. the success of this project will support the pension funds and the pensions of the union workers as well as creating union jobs. box 6 is poised to make significant contributions to san francisco. we are adding

to the south of market district and amenities that san francisco expect and enjoy and design a lead gold certification. it's more than a green building. it's been designed to reach the entire neighborhood experience and this will contribute to san francisco's longstanding ranking as one of the america's greenest cities. block six includes improvements to the street scape for all to enjoy at the community garden at the ground level and gives a sense of community within the building. we are making sure that our residents will have multiple green transportation options including bike storage and preferred parking for low emission vehicles and according to the transportation center

will ensure public transportation is always a few blocks away. we've also designed block six to be highly energy efficient, energy conservation includes shading and cross ventilation system using outside air for healthy interested door air quality and also will bring much retail space for all to enjoy. many people don't realize how much work happens before we break ground. so i would like to give a special thanks to a few people who provided their expertise and leadership to get us here today. maria kaplan of the gapa has been critical in getting us here and ann -- anchor for this development and christy and to the mayor's

office our gratitude goes out to elizabeth. our financial partners mept and their advisors kenny, of been a big part of making block six a reality. it's an environmentally sustain able urban project in dedication for real estate investment helps propel the market for sustain able real estate market block six. i would like to thank ed for his incredible innovative building design and chuck pally from ko construction, our contractors. i want to personally thank brian lawrence and bruce am as -- armstrong for their incredible assistance to getting us to this point and

lastly my partner and brother-in-law lee for his tireless work for nearly 4 years in bringing all of the pieces of this amazing puzzle together. thank you everyone and everyone i did not mention. before i bring up the mayor, i would like to discuss something. we also install a time capsule. we want to make the time capsule more meaningful. in addition to burying it on the sight, -- site, we plan to have a display of it. most likely and most obviously it will be how dumb our smartphones are for that time. i guess i should show you what it looks like. we are

actually not going to bury it today. we are going to take some suggestions. anybody ha has any interesting ideas, please be sure to let one of us know. so far our partners at kennedy are contributing aerial photos of the before version of this area surrounding the transbay center and to make this local and timely we also couldn't resist including a picture of the bat kid who put so many smiles on san franciscans around the world this year. next, we'll hear from mayor edwin lee. when he's not delighting young crime fighters, he's worked tirelessly to make sure that construction is at the heart of every new area in san francisco. it's no surprise that the mayor has been focused

on affordable housing. this has been his issue. thanks to mayor lee, no other city is developing as much affordable housing that san francisco is doing right now. thanks to the mayor there is now permanent funding in affordable housing in the affordable housing trust fund. $1.5 billion will be available for construction in affordable housing. mayor lee believes building affordable housing is something to accomplish. mayor's accomplishment includes parks, public safety. ladies and gentlemen, mayor lee. [ applause ] >> thank you, michael. i guess

that time capsule is not big enough for me to go in. first of all i have been business an acquainting myself with the family. i'm really happy to not only see you here welcome a great project. this is again another celebration of the presence that supervisor kim and i have been having all this wonderful year. i can't tell how many times we've been together in your district for these kinds of causes, but there is so much congratulations to go around. first to the guam family for joining with housing of great producers and good solid affordable housing in the city, and i look forward to working with you get on this doug. there is a lot of other congratulations to be had as well. i know the idea of making sure that we did well by using

public land that was part of an adjacent to the transit center was a dream that maria had for the transit system. we always wanted to make sure we had in fill housing and use that properly. the redevelopment agency was in there for decades on this theme well before a lot of the arrivals of these projects have come along. i need to thank the former redevelopment agency but now in the form of the newly creative office of investment, the staff is here that has been working really hard because the vision of using public land and making sure reflected our values is extremely importance. tiffany

is leaded that effort now with her efforts to make sure that all of the land that had been formally redevelopment land gets the agreements that we had that the state has in their infinite wisdom decided to honor and keep in fact, i think we are one of the few redevelopment agencies in the state of california, particularly the governor had appreciated the way we conduct ourselves in all of the redevelopment agencies decisions. something i know he realized that because we have a lot of things we are doing and doing it correctly. it's also thankful because this project continues to contribute signature amounts of money to the transit center and that center is going to again be the grand central of the west. and so, it's important for maria to hear not only is the land adjacent, not only is it a

great development, but $23.4 million to the center is not bad either. that's always a great news to hear because all of the projects around here are contributing significant amounts and that's important to hear from the people of cal trans and as well as all the other transit agencies. another great thanks and recognition has to be the people, the men and women that are going to work on here. there is going to be 2300 construction jobs doing lead green jobs for this wonderful design building and it's going to have it's own natural air pockets and i love hearing green platinum being the goals and standards for this

building. 140 units on this block and block 7, that will compliment what we'll do probably here again in the few weeks, supervisor kim. that has opened up the rené project that is 120 p -- units of supportive housing. we are doing it right, building this city for 100 percent. when we match 409 market rate units here, we will have contributed significantly to the affordable housing and the below market rate housing that we need in the city to keep everybody here. we had that vision with the redwopgs -- redevelopment with the transit center that we wanted all to enjoy the amenities and share the park and share the walkways to the transit and all the different amenities in different backgrounds and this is what we wanted to create. while, also there is a lot to be said about

who is financing this project. i will tell you, manny flores e-mail me three times to make sure i said carpenters, i'm glad to do that because if there is any reflection of competence in the city whether it's electrical union that is doing something on van ness with their money or carpenters laying dower their invaluable protection, you have to know they have a high level of confidence for this city. that's the level of confidence that we've always wanted to build in this city and that's why i'm working hard with the supervisors to build investor confidence in this city, not just for this project but for the quality of life in this city. we have to have that level of confidence, that level

of confidence for contractors to be here for them putting their money in the resources, the hiring goals and training for all the future and present construction workers, men and women and people from all different backgrounds investing in their time that they want to build and be a positive force here. this particular project has so much meaning, mr. gallup to all of us. it's not just a reflection of a great family which i'm very glad to be introduced to but all of these partnerships that we are putting great confidence in the city. san francisco is successful. we have an unemployment rate lower than almost every part of this country. it's because we are putting partnerships together, we are introducing ourselves to different partners, building the right way, designing them the right way. it takes a lot of great confidence and partnerships to do this. and do

it in a way in which we respect public lands and get out of it as much as we can for all the other people together including our men and women in our labor force. that is so significant. so confidence building is part of our government job and we are doing it with great partners, with the ocii, now more and more you will hear about their work as they become my partners in so many of the other parcels of land that are publically owned that have waited very patiently for these opportunities where investment in the private sector can match the government and public investments that we've done. when these buildings open you are going to see a lot of happy people. i know we are looking at a dirt pile today, but just look beyond that pile in all

different directions and you will see the most beautiful housing and spaces and parks and we are figuring out the way to manage these with the investments that everybody is making. as you can tell, i'm very positive about local economy and positive about relationships and i want to say congratulations to the gallup family and merchant housing and everybody involved. these have been projects that have been years in the making. i think supervisor kim and i know how lucky we are that right now the investor confidence shows itself up in the brick and mortar and the jobs that we have. thank you very much for being here and being part of this success industry. [ -- story. [ applause ] [ applause ] thank you, mayor for your

very supportive comments. we really appreciate it. next i would like to introduce doug shoemaker, president of housing. >> good morning, everyone. doug shoemaker, the president of housing california. it's great to be here again. as the mayor said we really have the commitment in san francisco to make communities like this inclusive and as hard as it's these days to deal with the affordable housing crisis we are facing with in our city, it's not without a lack of effort. it's two of our best officials in the country mayor lee and supervisor kim, we are going to do everything we can to make affordable housing in san francisco possible. i want say a few thank yous. i want to thank our contractors for doing

the phenomenal work and moving won this project. i want to thank bruce prescott, our architect, two of our managers, barbara and who has done all the work and i would like to thank them for their phenomenal work and the office of community investment and infrastructure. i said that, right? i'm looking at tiffany cut me off. formally knew her in her redevelopment agencies, it's really phenomenal that we are continuing to move forward when others have not found a way to do it. we thank you and the rest of the regents of this building thank you. it takes years for these projects to get here. this land appeared

available to us and to the ocii to make it available for affordable housing for years and we had the vision to build these sites. i want to thank our partners from gaup -- we have a great partnership. when this project was about to get going and the city was struggling to figure out where to get the money together. gallup fronted the money to do all the predevelopment work on this sight and of course it's coming back to them -- [sirens spren] that by the way, is the investors and the alarms are set off somewhere in seattle. [ laughter ]

i will talk to her for a second. in any event, when we were in a moment of need both with the city and mercy housing gallup stepped up and made it possible to move forward with this project so we can build the affordable and market rate. i think it's an attribute to them to the family and in the city to moving forward. i want to thank them for that. >> without further a do. i get the pleasure to acknowledge them because they do the most work than any other district in the country, which you get some credit but you get a lot of credit now and for folks who know supervisor kim she that is most unique supervisor pedigree more than anyone in the world since she