several packages for approval and we have the roof top clearance and the temporary facilities and plumbing and fire suppression, and in july we have the packages which include the medals and the bus, crash, rail and the expansion and so forth, and if you see on the screen, the artists will have three packages, on september four and in october, another four packages for the recommendation. and in november, we have the form base and then in december, the car pentry and paint that that inincludes the 35 package and? january we expect to bring in the final package and civil work and designing. >> for the time extension, we expect to see the approval for the environmental impact reports and at the end of this year, we will continue to work on seeking funding alternatives for the utx, and we will continue our coordination with the partners or our partners on cal train and high speed rail and fra. and on the program wide, we

expect to achieve financial for the block nine and in the next few months and we will issue, and we will see it for block 8 and we will issue ours for block five. and we will also issue the request for qualification for the proposal of the facilities and complete the updates for the study. and also, we will begin the stimulations for the bus ramp area and we are doing the bus ramp now and we are the first for the estimate and mentioned earlier, we will continue to update our risk area, according to this, and develop in the measures for them. and we will also develop the community operation and explore it with the william's program, and for the pedestrian and bicycles in regard to the vehicle operators for the construction equipment and trucks. >> we will give it to dennis,

construction? >> >> so i am continuing with that theme of a very busy 2014. and i am going to be completing all of the excavation and the great thing and the micro pile installations in a very short period of time in early of 2014 and all of the utility trade packages will be completed in this year and as you start going forward with the rest of the work, it becomes busy on the field all of the packages will all be coming on-line and it will get busy out there and it will kick the construction in high gear. the train box will really start to take shape, and the structural steel erection will begin this season and we will have the steel showing up and they are working out on it out of the foundries and come this summer, we will start to see the steel on site. and then the deck itself that

is the structural concrete, project which will put the lid on the train box comes on-line and all of the mechanical and electrical piping and also, fire suppression, all gets happened on a very, busy 2014. so where are we going to be a year from now? it is going to be very exciting. here is some graphics that give us a visual. there is still the train box work but in the central building, where you will see most of the activity will start to tai shape in 2015. they will be doing some pours as we finish the final leg of the train box. and but, this, gives you have a good visual for where we are going to be and it is exciting and this is where we are heading towards and we are going to start seeing the bones of the project come together, and it is with that, it has been a very good year and we look forward to the upcoming

year and thank you for all of your support and that completes our year in review, presentation. >> thank you. >> thank you. >> thank you, directors. now, to present on the quarterly financial reports we have sarah. >> good morning, directors, the first of the quarterly report is a budget to actual and that demonstrates that we are in budget for the first quarter of the fiscal year and the second report is the contract status report and the amount authorized and spent thus far on each contract that is awarded and shows some of the upcoming contracts to be awarded that mark has already mentioned and shows our dbe and sbe percentages. and the third report is our investment report, and we have not quite five and a half million in the city pool, as well as that, all of those land sales and proceeds in the trust

account and you will see in the investment was coming due on december 31st, and that matured and was reinvested to the u.s. treasury notes as the rest of the portfolio is. the fourth report shows the program inception to date and the expenditures and the revenues and the fifth report is a newer report where we are showing the draw downs on the programmer reserve and it shows since the last report there was just over 600,000, for various change orders. and i am happy to answer any questions. >> just one small question. >> i noticed that we have one of the accounts where, the fees and zero interest, >> and i have a checking account and is that our own alternative is there not more of that we could put in the

city pool. and we see it earning a little bit of, just enough in there that we can meet upcoming funding obligations or payment obligations without having to continuously transfer back and forth from the city treasurer because we are not part of the city. we cannot go to the famous and request the city pool because it is a couple of day's process for that to happen in coordination for the controller's office and so we do the minimum in there and there is also a fine line between how much to keep in there so that we don't see fees so that the aoerpings credit equals any fees that we will be changed basically and so it is something that we monitor pretty regularly and actually are looking at potentially looking at other banks right now, u.s. bank published a prizing for 2014, and it was

considerably higher than we have seen and so we are talking to the account manager about what can be done about that and if nothing can be done we will be looking at other providers. >> sure. >> thank you, sarah. and now, dennis on the quarterly. >> and so the project labor agreement quarterly report, there are some in the review but i want to keep this presentation independent, but i will go through some of the components quickly. and so i am going to go through the administration labor, and since the last report that i gave. and some of the packages that are in play at this point and we talked about the progress on the students and adult and wrap it up on apprentice ship

reporting trends that is usually part of this. so administratively we held the 8th joint committee and the jec back in november 21st, i presented on construction update and, we went through all of the trade packages and the apprenticeships and we had a good attendance by all of the union and we reported on no work stoppages, and one point in question, that i asked actually of all of them was do we have the skilled labor to meet our needs and there is a resounding yes from the crew, as we go forward with the 2014, 15, transbay neighborhood being very busy as well. and we did have six safety incidents, and since the last report, but, of those there was no lost time, and that was actually the three, of the recordables but not a lost time

incident and the minor cuts, very, very minor issues, regarding safety. since the last report. roof top cranes, we have a request for a proposal went out just a few days ago. and those will come back and we anticipate an award in may of this year. and temporary facilities, and that request for proposal went out as well a couple of days as well and we anticipate an award on that one some time in may as well. structural super structure has been out for bid for a while now and we have five prequalified biters and the bids are anticipated february eleventh and with that it will be coming to the board in march and metal stairs and eight bid and hers these are all good numbers, and on three, and issue for bid, coming in january on january 28th, with an award of potentially in april, and the curtain wall and

skylights, and we have prequalified with the potential award, at the same with the awning or w1 as well. >> and actually all of the plumbing. and the electrical and the expression. and the awards in may and the electrical and at the same time line. the bids open in april and the same with fire sprinklers and the fire suppression systems and an award as well. and elevators and that one is going out, award in april and bus ramps. and we have 7 bidders and prequalified that is outside of the transit center and anticipated bids in february with an anticipated award in march as well. and so that is, some of our

contracts that are out on the street at this point. and some of the work that was reported at the jec, michael terio was there to report on the work on how it is progressing and the mc cubed or the multicraft core curriculum with john oconal and we are actually going to implement and it is going to start? the next school year, august of 2014. and the carpenter todd williams was there and reported that the things are going well with the school district as well too, and working with the helmets to hard hats and they have had a report on the good success on the helmets to hard hats and as part of the year, i acknowledge many who is in the audience for us today working with the school district. and they have graduated 6 students out of their apprentice program that was reported at the november 21st meeting. and interns, we are actively

pursuing, and some students this year as well. and looking to fill three spots. and so, that process will start here, in a couple of weeks so that is exciting, and i always have a strong support for bringing in the summer students to expose them to the real world exposure who will work their way through the real world. and i do want to rehire, the united for veterans. it is difficult with the veterans and it is not a box that is chucked but you have to and it is tough to track and so that is where the out reach is extremely important to allow veterans to know as much as possible what is out there and the entire team, and following the initiative, that the tjpa started and this is a

continuous, to grow. and web corp. and he reported on the continued work with mission hiring hall and how they are doing quarterly sessions. and there are lessons that they do over in city college as they continue to work with various students to try to projects and work with city build for various package update sos that everyone can know what kind of work is coming out and obviously by the list that we have presented today, there is going to be a lot of exposure and a lot of opportunities coming up here. the international workers, and in attendance in our meeting on november first as well, and he reported as of what is happening as of today, they received over 13 applications for 100 to 200 apprenticeships

so so they are receiving a lot of interest and so going back to the labor issues or lack thereof. he actually reported on it and how they are getting the apprentices graduated and how they have 45 journey men on the sites in the area and so all very good stats as we move forward. on the apprenticeship itself, i wanted to show that the quick calculation with, and these are over all hours, regular hours and not over time, but that is the best way to track, and apple to apple and these are not, the laborer and operators are tracked separately and i will get those in subsequent slides and right now, the non-, and everyone but the operators are regular time and we are

meeting. which is a five to one ratio and five to one, and we are over and we are over at 17 plus, percent at this point, and so we are meeting the goals at this point. and in the report too which i wanted to add is that under the apprentices we are tracking regionally and it is on page 4 of the quarterly report, where it will show, san francisco does lead by far where all, and about 34 percent are all in fung, and we will track it in the report as well. we did have a tip on which that is showing and during the summer time, when it was starting to dip on some of the work load and shimic had not started yet, and there was a

dip in the numbers and as you can see by the end of the year, with them coming on board, we were exceeding our goals for laborers. so with that. thank you, very much and that was the quarterly report. >> thank you. >> and so, unless there are any questions, directors, this concludes my report. >> are there any questions on the report? >> okay. >> director harper? >> to me, i don't know how you keep the construction site that safe? i just don't how you do it. >> we do great work guys. >> we are just a great team. >> and i don't know what san francisco standards are, but the out reach program by east bay standards is stellar. >> thank you.

>> thank you for saying that. >> thank you, directors and i just want to concur as well, and it is good to see that you are working with the organization and good to see the out comes from last year and so seeing no further comments, we will move on to public comment. >> item 6 is the chance for public to address you on items that are not on the calendar. >> >> quick presents on the elevator and i hope that we are talking about the concourse and the bus levels because evidently things are likely to change on the train box level as we move forward with the ddx. and the question that i had, is

what happens to the shoring wall in december? >> and especially if you can use the section between the freedom and beal and whether that had anything to do with the removal of the butress and my understanding that is not the issue, and what i would like to know is that there was an impact on the budget as a result of the emergency. >> thank you. >> thank you. >> are there any other members of the public that would like to speak? >> seeing none, public comment is closed. and we will move on to the consent calendar, item 7. >> yes. >> and as we move into item 7, to request for the board we will continue 7.2 for the next meeting and we can consider 7.1 which is approving the minutes of the october tenth meeting. >> are there any comments on 7.1? >> okay. >> i was not here and i would like to abstain. >> okay.

>> why don't we take roll call on this item? >> so moved. >> thank you. >> second. >> first and a second, director lee. >> yes. >> lee, aye. >> metcalf? >> aye. >> reiskin is abstaining. >> harper? >> harper aye. and chair kim? >> aye. >> that is four ayes and the october minutes are approved. >> can we please call item 8? >> moving into your regular calendar, presentation of the audited financial statements for the fiscal year ending june 30, 2013. and the report to the board of directors. >> this is our tenth year of financial statements that have been audited and received a clean opinion, and you may have noticed in the staff report that now termed unmodified opinion it is determined an unqualified opinion and i would like to introduce our auditor, from the company to answer any

questions. >> good morning. my name is amant krant and i am in charge of the audit, these are the annual financial statements and the scope is to be on the presentation of the statements and on the transbay from the tjpa and we have seen the financial statements from the agency and we confirmed these balances and we audit these balances to make sthur that the financial statements are stated in all material respect, our; is to apply on the fair presentation of the statements and i am pleased to let you know that we issued a clean opinion and they call it unmodified opinion that the financial statements are fairly stated, over and above the transbay is a government so it is required to undergo a single audit for the compliance for the major recipient for the grants and they have specific

requirements and compliance requirements that the transbay has to adhere to, and we go in and we insure, and we audit, the compliance of the transbay with the federal grants. and with that, also, we issue the clean opinion and unmodified opinion, which means that we had no reportable conditions to report to you. as required by our centers we are required to tell you whether we encountered any difficulties with the audit and in her department and making sure that we got all of the financial information and all of the financial information that we needed from her and from the transbay and we have no audit adjustments or any findings to report to you, and i would be happy to answer any of your questions. >> questions or comments? >> thank you, very much. >> thank you. >> i can call the next item? >> yes. >> the next item is 9,

authorizing the executive director to execute amendment november 29, to agreement, 08-04-cmgc-000 with web cor obavashi joint venture to increase the time to preconstruction services to 225,901 hours and adjust the contract sum accordingly. >> sheran will present this and she is also president if case you have any questions. >> thank you, maria. >> reconstruction scope of services i want to address that quickly before i went into the actual break down and it includes, items such as daoet sign review and constructbility components of each of these that we were talking about today and the modeling which is essential part of the eventually trying to find some

clash detection which is if you have rebar that does not fit to something that has some kind of a clash so to speak in a constructbility component to do (inaudible) themselves, small business out reach is a component of this scope of preconstruction services. and doing the value engineering and preparation of bid package ss one of the main, and because web cor are the ones that are putting them out there and the bidding itself, and that is, that leads me into the contract amendment request for today. and which we would complete the precom services through 2015. back in 2009, is when the cmgc agreement was reached with web cor, and that at the time there was no train box, the train box was added in 2010 and eventually that services were included by 2011, preconstruction services were amended by amendment 20 to include the scope of that work. since that time, there was

items such as the risk and vonnerbility assessment that was added and had to reevaluate and remodel and modify a lot of the design in the project. and which also affected the design delivery, as well. and now, when the board, when we came with the budget in july, all of those impacts were addressed in the budget for preconstruction services. we at that time, we knew of the ads to modeling and we knew that there was going to be additional schedule, which is basically the schedule ha we have been talking about today in a few different reports, that puts us out to advertisement through the end of 2014, with the last awards in 2015. we addressed all of that in the budget, and in july, and that is why, the budget allows for 31.19 million dollars. we addressed that and so we knew that it was coming and we handled it in the budget.

and we are coming before today, is to follow up amendment to amend the actual agreement to acknowledge what was already in the budget at the time. and that did, and it brings us up to current what we would expect and knowing that exactly that modeling will be done this month and so that is a milestone that we, and it is a known at this point and we also have a well defined schedule for the trade packages and so we know exactly what web cor is, and it is some what cookie cutter from this point when we do in the advertisement and so we know exactly how many hours in the trade package and so we know exactly what is going to be going forward and so we are confident that, putting this amendment forward, to match our budget of july of this year. so with that, so, we do have a question from director reiskin. >> yes, thank you. >> i think that the value of

preconstruction services is a tremendous value in it and i think that it is a great return in it and i am happy, and just a question and it seems like the construction is broken down into a lot of packages. i think that 39 more, or that is broken down into really small pieces and i am wondering if a, that was always, the plan, and b, whether with web cor you all have evaluated the kind of trade offs associated with breaking it into so many verses doing some bundling which would, or could reduce some or both the preconstruction or the ongoing cm costs. >> there is a couple of advantages to breaking them down. and one of them is a small business, components because a lot of these going forward are the smaller packages. and the ones that we, that are either out today or have already been let, are the very large ones. and going forward, there is a lot more smaller ones and so it gives the small business

opportunity, and also, what it allows some flexibility and schedule, and knowing that as we move forward in the, and with the design and we are able to know, when the time comes on the schedule, and we are able to get that out. and the dollars for the preconstruction, component to handle that, is minimal compared to, you know, what we are doing too by breaking it down is that we are trying to get more bidders as possible up the bidder environment, and as well. and in that, and so there is multiple benefits to that, and in that, this is how and this is web cor is really who drives their packages and we are in support of their, and the way that they have broken down the packages because they ultimately have to manage and are in control of this. and so there are many advantages to doing it the way that they do from a building standpoint as opposed to like the civil standpoint where you

do tend to have the larger packages and you don't have the opportunity to break them down as much. >> okay. thank you. i am happy to move approval. >> director harper? >> there was a motion and a second. >> director harper? >> i have a couple of questions, and not having the whole contract in front of me, i may be totally out of school here. but, it seems that what we are doing, is with web cor is every time that we amend the contract, we amend the total hours and the total dollars. and we will say, okay, because you have to do x, something more, the total hours are now increased to include the something more, and the total dollars are increased at 122 an hour to do that. but, it seems to me, that it would be easier to track and monitor if part a dollars an

hour were kept separate and i could say now you are doing b and we have agreed that b is going to cause these dollars per hour because, it seems like what you are doing is by smoshing them together, all of the time, you are losing, you are losing some control, over the efficiencies and so part a, we thought would be done for this and there are certain risks that they encured to do part a, for those hours, and those dollars, and now, b, c, d and e come in, and by smoshing thel together, what we are doing is we are, i think in web cor's behalf we are minimizing the over all risk. and because, now, the risk of doing a, and under that bid, is smoshed into whatever risk you can build into b, c, d and e. and why don't we when we do these amendments here was part a and here is b and c and d and

be able to monitor it, separately. and say, if there were reporting to and to that degree of detail, then we have more control over making sure that the risk that web cor, undertook in each part is still separate and so if this part runs over, and this parts runs under, we get the benefit of it instead of web cor and i may be completely off track on this effect and i don't know but i am just curious. >> and so, the preconstruction services is the only component of the web cor very large contract that is actually timing material. and so, back when the agreement was arranged it was knowing that there, that the scopes could change and it, and we kept some of that risk by doing a time and material component of it and the larger contracts when you have the fixed fee and all of those, there are those risks that definitely you