amendment. >> the meeting will come to order. roll call. commissioner brandon. commissioner murphy. commissioner ho. item two approval of the minutes for the may 2014 meeting >> oh, i'd like to make one correction on page 21. under my comments the third paragraph from the bottom i think i meant to say it's not clear kind of a double negative

we didn't use the self-employed policy at the beginning of the lease so we were not consistent pause >> okay. >> just want to be clear on the record. >> okay. can i have a second >> second. >> with the amendment. >> i'll move it as amended. >> second. >> second all in favor, say i. i. >> item 3 public comment that on the executive session no one's here. >> second. >> okay executive session wait a minute for the room to clear. >> the executive council is there a motion to reconvene in open session. >> i make a motion. >> is interest a second. >> second.

>> all in favor, say i. >> i. opposed is there a motion not to disclose what of the discussed in closed session >> all in favor, say i. opposed? thank you. pledge of allegiance. and to the republic for which it stands, one nation under god, indivisible, with liberty and justice for all >> and i miss sfadings booming voice. and use of cell phones, electronic devices are prohibited at this meeting. please be advised that the chair may order the removal from the meeting room responsible for the ringing or use of a cell phone, pager, or

other similar sound-producing electronic devices. complained that a member of the public has up to 3 minutes to make public comments on each item. item 8 public comment on items not listed on the agenda >> is there any public comment oh, please come forward. >> hi i'm shawn farley. >> sorry to interrupt you this is for items not on the agenda. >> the agenda is not on the agenda i'm here to say that, you know, quite often the front line people taking care of the ports business get a kick in the butt and don't get the recognition they deserve is i'm sure the port director has given you are

them kudos but they've been amazing working with us that's connecticut i can't and dan we're putting together 9 peer 77 memorial that's a tough, tough process a lot of people would have said come back and they've never denouncing done that i wanted you guys to know how wonderful our troops are. >> thank you, very much. >> thank you shawn. is there any additional public comment seeing none, public comment is closed >> executive director report. >> good morning members of the public and the staff thank you for joining us i have a couple of things stat with our sale of our port revenue bonds at the last commissioner meeting we sold the bonds almost two weeks

ago we we hit the manpower and the best of all market value in the municipal bond market it was a combination or really good interest news coming out for the borrowers and a lack of apply in the municipal bond market we sold 22 millions plus port revenue bonds series 2014 they were a series a that's tax exempt and building inspection commission that's taxedable it constituted 19 hundred million and b-2 million 80 thousand that's about a 12 percent to what would that be a 28 percent

split pr the transaction is scheduled to close this theirs on may 29th so the sales portion of it is definitely done. the transaction was a progress for us by a couple of people that i would like to mention first and foremost our team eelena additional larry brown and marilyn and a number of other i know i'm forgetting apologizes in advance our consultant were lead by nicholas and company and >> financial advisory were braxton and other we're pleased to have the caliber firms working with us. the offenders were driven by institutions like fund there

were definitely retail buyers and merrill lincoln submitted odors over $10 million in a particular series and allocates of million dollars we're pleased to have them. our overall interest of costs are the average 3.97 percent we've borrowed thirty years under 4 percent and this is the best certificates that average interest rate was 4 points 6 percent so a little bit more than a half a percent higher and the revenue bonds were issued at the 6.16 percent you, you can see the market moved in our favor we'll probably never refinance those bonds kudos all

the way around. also we were going to be heading into the budget meeting at the board of supervisors we had two hearings one on, if you will, a state of the port we are that the first department to be heard in into cases and had a hearing on our two year fiscal year 2014-2015 and 2015- 2016 budget. it leading into those hearings we spent time working with the mayor's office, you know, the ports budget is conciliated into the mayors overall budget into the city there were city overall adjusts and work order changes that implicated the ports balance negatively you remember we when met our requirement to designate port capital needs and the percentage of 20 percent we

fell below that with the negotiations of the mayor's office but through the budget analyst process through the board of supervisors the budget analyst recommended seven hundred thousands of savings we are that successful in having the board direct that back to our port capital projects that brought us back into balance so kudos to elaine. the budget committee has heard the budget and it will go on to the, if you will, full board with a tashtd date so i believe they can't act before july 17th or before august that's itself update weighing the testimony we'll have more line item details but it went very, very well. okay. next i want to report on the pilot donor program almost a

year or 89 months ago the port worked with the san francisco america's cup organizing committee to have a pilot program that was titled one sf celebrate the cup at the peers 24 to 29 the america's cup organizing committee fulfilled ailing all its duties to the city and subsequentially clez closed it's door so the pilot program is concluded with the program on a ongoing basis if we choose i thought it was would important to see this. there were 3 eros placed at various points for individuals and other to participate. there were a brick program and there was a beverage program and there was a larger ability to

death a grove of trees on the site to approximately 2 hundred and 50 bricks will line the walkway of the park you can see that very large red is showing where the walkway is and on the embarcadero program in addition and a step up within the wharf and that's where the 2 hundred and 50 bricks will be their wen graphed with someone's name and potentially with well issues for example, someone purchased a bring in memory of a person who severed a short time and other expressing their love of the area it's been interesting and will be fun to go through the bricks.

the second is the bench program 13 benches were purchased lynn the area with the top of the slide that is facing southwest the front part with one bench placed around the corner that's where the benches will go and the third is a grove of 3 cypress trees in the lawn area and named at the grove named after george and louie who have been contributors in san francisco and a group of their families and friends got together in recognition of their civic contributions and the dui itself have supported the good times with the vibrancy bay and

the san francisco ballot and the fine arts museums etc. so a group of people made donations in recognition of the jew itself legacy. so this is the madam chair that will adorn the grove inlaid into the seat that's a retaining wall if i peak over the construction wall you'll see the trees on site. this is a typical madam chair that will adorn one of the benches again, a saying and a family name or something like that across the ports name. and then lastly we've dedicated a wall on the second floor for everyone who donated to help with the ports peers this is the wall adjacent to the escalator

so if you come up the escalator you'll have your back to the wall and likely turn and looking at the coit tower and the trans america building or face outdoor and look at the bay bridge or any other amazing sites this is a very small area where the names of the people that donated will be remembered and an entry box at the top that is a monitor so that's the update on the do in charge program we're going to wait until the building is open to assessing access people's interest and maybe come back and request ask you for approval to authorize it we have people that wished they'd bought a brick

>> myself included and it will be popular and you can use more benches up and down the port and again that program was modeled after what rec and park does interest that concludes my presentation on the rec and park program. >> when a how much was raised. >> approximately half a millions i was trying to get the exact number you don't have it elaine? >> and eligible expenses up to $10 million for the ports expenses we are that hoping you recall there are an mou between the port and the america's cup committee we identified up to $10 million paid through the recognize.

>> i want to say kudos to the staff and all the hard work to get such an incredible bond ratings it took a lot of effort we're lucky to have the staff and to have the kind of operation that warranted the high operation thank you all. >> i'm sorry, i hope i didn't mislead ii wasn't done with any executive director report. >> oh, sorry. >> that was my fault. the next part is to thrill about the park maintenance are doing out on the ports it you won't get to see it this but it's outstanding. so the port maintenance pile workers began to work on the thurnd system obtain april 21st consisting of one hundred and

plus they support the wu could harms they keep the ships off the peers and because of the gangways and the short power system they have to sit off the pier a little bit throats process the department maintenance workers have the expertise to do this and they're doing a trimmers job. port welder guide the templates and were designed by engineers they keep the piles going in straight it's outstanding to watch them work how accurate and they are in driving the piles and went their one hundred foot steel piles and h beams their amazing in terms of their length and their weight and to be able

to guide them in effortlessly is in part due to the templates. to date 3 of them have been installed and the rest by the end of july. i want to give you a moment to see some of the port maintenance they do not only in the construction mode they're very, very proud of them and wish we could skip over the construction fenced and see it unfortunately not. next, i also wanted to report an great work on the san francisco ship repair generated that's operated by bae the ship repair two thursdays on may 15th they have completed a ship job for the norwegian jewel she carried

approximately 2 thousand 3 hundred passengers and is considered too last year of a ship to fit through the panama canal. she's one of two ships that will be repaired and the second will be the star princess's for dry doc and update. there was a lot of great work including putting on what i count to be 3 new restaurant and sharpening gunman's bar and grill a steakhouse with a bar and make my daughter happy a new carols bakeshop so if you have a teenager that likes the bakery it is quite an amazing sculpture of cakes and other treats. all told while she was in dock

she generated over thirty thousand employment hours now headed to seattle where she'll be based for her alaskan violently and holy weep see her on tuesday the 22nd on the crews shipyard we're excited about that. bill where are you dunbar from bae congratulate you and your team and most importantly your ability to bring in the crews ships and provide the services that helps us to build our cruise ship and to no small part to bundle the services you provide at the shipyard. all told we've seen 83 percent

growth and a large part coming from the fact they can over the onshore power that's one of the projects out of the america's cup project and the port and puc and bae partnered inform put in the repair shipyard with an investment of $5.7 million and has allowed bae to build on the military ships and been quite successful so that's an investment well spent and very, very environmental sound and we couldn't be more pleased that's exciting news and latest on my report not mentioned is may 28 tomorrow from 4 to 7:00 p.m. the

eco center from 4 to 7:00 p.m. at the worker could center this is for the new operators to be able to welcome in the community and all who participated and they'll call it a collaboration between the bay institute of aquarium a their obey having a house warming party that concludes my report. >> thank you. i'll make my quick comments kudos to the staff regarding the tremendous efforts on the bond and shawn thank you. we often say it but appreciate the members of the public come down and acknowledge and as director pointed out our maintenance workings at the jimmy terminal

thank you for the tremendous work. public comment on the executive director report? seeing none, commissioners. commissioners reports are there any? public comment on the non existing conspiracy report >> seeing none, call the next item. >> consent calendar request approval the understanding of m-156 between the municipal transportation agency for the project on marin street for the general warehouses storage for the maintenance and repair of sfmta buses including the fueling and washing of the same and incident for no other purposes for a term of seven years for the process and item

10 b the fee waiver for the to temporarily install public art near mission streets on the east side of the embarcadero street and peer 14 for a term of 4 months. >> so moved. >> all the all in favor, say i. >> public comment. >> i'm sorry public comment? seeing none. all in favor, say i. of the consent calendar say i >> opposed? consent calendar carries we've approved resolution 1436 and 37. >> item a approval for the management and ship, llc for james at the peer 35 and 32 of the embarcadero and brooifrnt streets respectfully.

>> good afternoon. i'm john for the planning development on on may 13th the port staff give a management agreement between the port and metro we've outlined the james r herman is a project that's taken over 20 years to complete but this summer this year peer 27 will be complete and operational late september. getting this project built has been difficult and clearly a loonth along coming once the project is collected mr. will be regards for the city at large as mentions in the presentation staff tried to have a balance of fiscal responsibilities to do that the port has made over the last number of years to create a new port facilitated not only

represent a state of the art crews facility for san francisco but to create an attractive venue for public and private events inside the terminal we hope this accomplishes the goal of the crews advisory panel for the recommendations sent out in 2007 pr generally speaking those recommendations including one build a new cruise terminal to preserve and promote one of the maritime's industries and two hydrahave the vice president of the peer 27 as the new peer facility and develop a plan for the new 27 terminal not only for the crews operations ambassador 44 for on site parking and shared use of the terminal space for special events and increase the passenger crews fee. 4 implement the short tower and

5 build ashore side park. staff will have accomplished all those recommendations again that we set out in 2007. but let's be clear when the cruise terminal didn't serve as a cruise function we'll use the space for other functions because it brings people to the waterfront and costs costs >> while construction at peer 27 will be complete staff has embarked on a path to identify on the operator for peer 27 and 35 cruise tenors they selected metro to organize the operations crews will be operated by crews and special events will be handed by the studios. parking will be managed by in

park every metro those uses were studied in the eir approved in 23450679 and 2011 to we've laid out the information we've provided more information specifically to hosting cruise events and seeing 0 how the ground parking capacity impacts the facilities and metro and staff have agreed to a booking procure that makes cruise calls priorities and metro will provide an monthly update with the fees of the infrastructure and they'll comply with the city ordinances and addressing light and other things >> as noted in the may 13

presentation staff port staff still has not secured a b c amendment to allow part time parking at the ground area so we've attached two attachments that talk about the b c progress. exhibit c is the base case which is the that was similar to what was shown on may 13th this scenario shows that scenario 3 hundred and 0 thirty are parking spaces and 3 cruise calls and an estimated amount of events if the parking spaces were reduced or eliminated then the port would be negatively impacted. exhibit d is a similar too on the exhibit that you saw on

may 13th the difference is exhibit z shows a reduced case obey sfaefd instead of 3 hundred and thirty parking spaces to that clearly it's not ports interest to book as many cruise calls and events as feasible the priority is to book as many cruise calls as possible and most of the ports inflict is deprived if the passenger fee and when the peer 27 sits empty book events and use the ground transportation area for the waterfront parking. to reiterate the ports intention per the advisory panel was to promote the cruise in san francisco as noted