additional security requires an amendment to the option agreement that is before you today and subordination related to parcel f and double prime while the fingsz is outstanding occ will remain the right loans as long as it is adopted into a lockbox the lion adding about minimum value under the redevelopment plan like the affordable obligations the obligation will be released when the bridge loan is repaid subordination specifics that any party that ours block 4 affordable housing requirement required by occ to meet the

affordable housing incentive of 35 percent for the transbay redevelopment plan area the under the redevelopment dissolution it is an enforceable obligation that occ is assumed to go before the oversight board and the called department of finance to determine it is in the best interests board of supervisors acting a protective body it remains the effort authority to review the material to the ocii affordable housing those actions will happen later this month and early december i want to point out you have a revised reducing resolution in front of you basically, we made editing

changes and fixed some type we're recommending approval of t the first amendment and we may make some minor changes going forward as we near the end of the transaction i'm here as well as at representative if the transbay joint powers authority to answer questions thank you. >> thank you do we have speaker cards. >> i have no speaker cards okay and do we have questions or comments concerns board members of the commission? commissioner mondejar >> yes. i'd like to hear from the tjpa representatives for

their comments. >> obviously you need the financing. >> i'm deborah miller the egyptian and one of the principles in norwalk this transaction i have scott the elective affairs with the tjpa as well as bryant jen kings from the tjpa i want to first start off by thanking the staff for their assistance in negotiating this transaction we've struck a balance for the tjpa to move forward with the financing in the interim basis as needed in order to allow construction to move forward as planned while protecting the agencies interests in affordable housing and the fire chief development of parcel f and block 4. >> i like to hear the comments

of the financial advisor. >> hi, i'm as deborah mentioned the financial advisor to the tjpa as evidenced in an early staff report to the tjpa board back when tjpa staff identified a need for funding we went and reached out to the tiff learned the department of transportation asked us to draw down the loan before we met the conditions present they agreed to amend it to allow us to seek interim finance we have a competition which we have an valuation mranl panel that contained the cities

department of finance and interviewed 6 out of the 9 entities and viewing a spectrum of direct loans with the bank and capital markets where short-term or long-term as well as replacements and at that time the golden sacking bank for direct loan is most in terms of due diligence everybody else for the most part look at the transaction offering up transactions and the loan is for 4 years. >> it was 4 years. >> how is it going to be paid this is one of the reasons we come before you today i'm sure you're aware of the tiff loan is supported by a pledge of tax increment revenue we've been

getting from parcel t and 6 other components is additional capital contributions from the transit in general $417 million we expect to get even though initial tax increment is loans $15 million it is not able to pay the hundreds and $75 million we'll capitalize interest we'll on day one have an account to pay off the interest requirements for investigators and then what the assumption is courtney mentioned hopefully by third quarter of next year we will expect to meet the tiff requirements and get the disbursement and take out the payments. >> do you know how the - >> i'm sorry. >> the interest rate.

>> i believe as indicated i hope you received in our packets but it is a loan based on months it is currently around 2.33 and the credit spread in the first year will be 2 hundred and 25 basis points the overall amount will be 2 you know a little bit below 2 hundred 5 percent and requirement in order to structure the capitalized interest we're going to going get into a hedge that cost is embedded within the bridging. >> okay. thank you. >> you're welcome. >> so he presume the use interim egyptian and this district attorney's office make

sure the dot all the i's and cross the t's so everybody is reading the same language we're fully protected. >> we've been working closely jim is our interim council and the city attorney's office is representing and carol wong is representing their department of real estate it's a due diligence review on our part certainly on the part of the tjpa the cycle of comments come back from god man we appreciated the commissions patience in getting the documents to you, we have reviewed it we do feel in the event number one even we do expect the bridge loan will be paid by tiff precedes we plan for the worse in the event that happens there are provisions in the loan there's a lien price we can moved forward on parcel f

and block had the likelihood we'll do so it's difficult because block 4 courtney mentioned the double prime are being used for the temporary terminal and bus ramp reconstruction we can't move forward without the tjpa so even so we plan for the unlikely for the worse case scenario so we can move forward number 2 again, we don't expect it to happen but again for some reason there's a foreclosure action could we still moved on those and fulfill our obligations in the requirement we've embedded those in the transactions we've planned and done our due diligence and planned for it.

>> okay. thank you i move that. >> okay we have a motion by commissioner singh do we have a second. >> second. >> commissioner mondejar has seconded it commissioner singh's motion madam clerk, please call the roll. >> commissioner mondejar commissioner singh supervisor bustos is absent public utilities madam chair rosales 3 i's and one absent. >> so the resolution is adapted thank you please call the next item are the the next order of business public comment on the items. >> madam chair. >> are there are no speaker cards. >> no. >> the public is out voting obviously so if not please do vote

okay. next item. >> the next order of business the report of chair. >> madam chair. >> i have no one. >> the report of the executive director. >> commissioners, i will simply direct you to the forward calendar in our packet we're drawing towards a close at the end of the year we still a a rigorous work program to be - if you have questions we'll bring them up to the setting of the chair that concludes my report. >> are there any members of the public that want to comment on the director's report. >> okay. next item please. the next order of business item 9 commissioners questions or comments and matters madam chair. >> does any member of the

commission have a question or matter? no. >> i have a question i have a comments lift ev'ry voice and sing send is doing a great job. >> the record will reflect. >> the next order of business closed session there's no closed session the next order of business is item 11 adjournment. >> thank you we're adjourned at >> this coffee memory i remember

having coffee with any grappled. in the old days myelogram ma get together >> i was six or seven i made a faces a good face. >> when i was younger i know it did something to my body. >> ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ >> i've been drinking coffee since i was 17 really the only thing i'm good at i was trying to find out what i was good at i got a job at the coffee shop i decided to do that the rest of my life. i like the process of the coffee

and what are those beans where do they come from oh, they come from a fruit. >> the coffee stays with me since i was a kid i grew up and opened coffee shops everybody. in the 8 i visited over 11 hundred coffee shops maybe more to see why people go to coffee shops >> we're searched the beans all over the world from east afghan and tokyo. >> when i wanted to do was get into aspect of the personal coffee and the processing and everything else there was multiple steps in making coffee and we did have a lighter roost

because of the qualities of the keep once you roost it it home gisz the coffee. >> one thing about the coffee they were special blends and i spent seven years on one blend so that's my pleasure. each bean they were all chosen and blended with each with different cultural and beans is like people and those people give me a reputation i can't buy. people love you my clients love me they take me to the moves movies. >> fell in love with coffee and went to the coffee shops the

community aspect i really enjoyed. >> i think it's important to have a place for people to show up and talk to their neighbors and recorrect. your surrounded with all those behalf communicated i communities >> i love my city san francisco has a good name my has every cultural in this planet living in san francisco it's a small city 7 by 7 but it's huge. ♪ ♪ ♪ ♪ ♪ ♪ ♪ >> i really like the idea of staying in the neighborhood and living in the mission i've lived here the whole time and the community really stick to it

people talk about seattle and portland now they talk about seattle and san francisco. or portland and san francisco but san francisco is definitely on the cutting-edge of the coffee scene in the entire nation. >> there's so many romance in coffee is surrounds the sourcing of that and thinking about where it came from and how and coffee is wonderful. >> i know for a fact i was born to make coffee. i have a notice from the dad let the life i live speak for me and let's have a cup of coffee and talk about it. ♪ ♪ ♪ ♪

>> a way of life in san francisco. when the next major quake hits, the city hopes a new law requiring seismic upgrades to five story buildings will help keep more residents safe and sound. tell me a little about the soft story program.

what is it? >> it's a program the mayor signed into law about a year and a half ago and the whole idea behind it was to help homeowners strengthen buildings so that they would not collapse. >> did you the soft story program apply to all buildings or building that were built in a certain time frame? >> it only applies to buildings built in the time frame of 1978 and earlier. it's aimed at wood framed buildings that are three or more stories and five or more units. but the openings at the garage level and the street level aren't supported in many buildings. and without the support during a major earthquake, they are expected to pancake and flatten ~. many of the buildings in this program are under rent control so it's to everybody's advantage to do the work and

make sure they protect their investment and their tenant. >> notices have gone out to more than 6,000 owners of potentially at-risk properties but fewer than one-third have responded and thousands might miss an important deadline in september to tell the city what they plan to do. let's talk worst case scenario. what happens in a collapse? >> buildings have the tendency of rolling over. the first soft story walls lean over and the building collapse. in an earthquake the building is a total loss. >> can you describe what kind of strengthening is involved in the retrofit? >> one of the basic concepts, you want to think of this building kind of like rubber band and the upper three floor are very rigid box and the garage is a very flexible element. in an earthquake the garage will have a tendency to rollover. you have to rubber band analogy that the first floor is a very tough but flexible rubber band such that you never drive force he to the upper floors.

where all your damage goes into controlled element like plywood or steel frame. >> so, here we are actually inside of a soft story building. can we talk a little about what kinds of repairs property owners might expect? >> it's a very simple process. we deliberately tried to keep it that way. so, what's involved is plywood, which when you install it and make a wall as we have done here already, then you cover it with this gypsum material. this adds some flexibility so that during the earthquake you'll get movement but not collapse. and that gets strengthened even more when we go over to the steel frame to support the upper floor. >> so, potentially the wood and the steel -- it sounds like a

fairly straightforward process takes your odds of collapse from one in 4 to one in 30? >> that's exactly right. that's why we're hoping that people will move quickly and make this happen. >> great. let's take a look. so, let's talk steel frames. tell me what we have going on here. >> well, we have a steel frame here. there are two of these and they go up to the lower floor and there is a beam that go across, basically a box that is much stiffer and stronger. ~ goes so that during the earthquake the upper floor will not collapse down on this story. it can be done in about two weeks' time. voila, you're done. easy. >> for more information on how to get your building earthquake ready,

>> good morning, everybody. welcome to beautiful delores park. this is a long time coming. back in 2008, voters approved a clean and safe neighborhood parks bond which allocated about $14 million to improve this incredible park. our goal together we are going to build the new dolores park that is going to be built to last. it is going to retain all of it's important features, all of it's historic qualities, all of it's essential beauty. but yet be built with the idea that this is whenever people come. >> we are going to be renovating all six tennis court's, replacing the basketball court with operations underneath so the staff has the ability to maintain the park. we are

completely renovating the irrigation system and in addition to the operations we are building two new restroom buildings. this fund was part of the park renovation fund. we knew community was very supportive of a renovation fund. we engaged in a community process which we began with the park to do a detailed assessment of the condition of the park and very details conversation about what we can do in the park and utilize what we can. >> parks are where people can gather and where to relax and a lot of people in the city don't have back yards and this is where we come to be with our community.

>> 1, 2, 3. [ applause ] [ cheers and applause ] >> the work begins. the intebl of our everyday life everyone with the seniors use it for work and play. although there's a many valuable websites on line. >> the first thing a senior will ask me is about viruses if they go on websites what are the discharges of being on the internet. >> for instance, you see

something that maybe from the bank and the first thing it starts asking you for a private information where you get intiger's offers and they're not real. the way to tell where it's a fishing scam or not is who it's from. they can fake a name that says paypal but they can't fake an e-mail address it would be from a bank if they have any issue it's not going to be over an e-mail. >> stay away from e-mail all the same can be said on networking sites. the user should make sure they know the person before clicking

on the requests >> some of tracking software they can get argue bank account information some are more hamper full we'll get pop ups and i want to avoid those. there are many levels of protect your i s public works usually has a security looking for things you should have a updated advisor software. there are a lot of anti virus programs the number one free viruses program is microsoft security and microsoft has an invested interest for people to make sure their computers are safe purify you don't want to use easy to guess passwords and

mix things up. you want to have a capital letter or a special characteristic like american people exclamation point and change our pass wood frequently every 6 months or so. be aware that anything on the public community someone else can be looking over our shoulder and there's memory that keeps the informational so when you log off clear the briers so somebody can't come behind you and see the information >> when your banking or shopping on line the browsers tells us you that this site is safe. when you're on a safe site you're going to see number one the address on top will see h h

p.s. and that sustained for security and none of your information is out into the public. sometimes, you'll see a lock that the browsers has deprecated that that browsers is navigate save. because of evenly crippling item $0.31 it's actual for dangers to if you give our credit card at a waiter thank you arraignment. so a lot of people don't get that and it can make our life easier. if you have mobility issues that's a in his luxury to have. >> the internet provides a lot of profundities. people young and old. by following some simple rules you you can, in fact, the web

safely and securely. ♪ ♪ ♪ ♪ ♪ for more information visit >> good afternoon. welcome to the land use commission of the san francisco full board of supervisors i'm supervisor wiener the chairman of the committee to my left is supervisor malia cohen and our vice chair supervisor kim will be joining us our clerk a andrea ashbury