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

>> we love our parks, but we love... >> and the community who is really the core of it all, came together and said what we need is a place for our teenager to play, not just play grounds for the kids and soccer fields but we need a skate park that will keep the kids home in the neighborhood so they can play where they live. >> the children in the neighborhood and it will be a major boone. and we have generations, the youth generations that will be able to use this park in different places. >> the best park in san francisco right here. >> creating place where people

can be active and lead, active, healthy life styles that are going to just stay with them for life. ♪ >> good morning, everyone. san francisco budget & finance committee for november 5, 2014, my name is mark farrell i'll be chairing this committee i'm joined by supervisor avalos and momentary by supervisor eric mar thank you clerk linda wong and

in case and jennifer lowe please silence all electronic devices. all files and documents to be submitted to the clerk. items acted upon today will appear on the november 18th board of supervisors agenda also otherwise stated. >> thank you item one. >> is a hamburger for the release of is search bond for the hetch hetchy mitigation project to cover the environmental impact report for the substation upgrades. >> good morning board members steve richie for the water for the puc this is an item for release of funds to begin the development of utilizations that will allow a variety of electrical generations to come into the grid and protect our

facilities for changes for more projects coming in ultimate on the order of $6.4 million involving replacing transform so we can use those funds for protections we wanted to get started on this project and that's what we're asking for . >> no questions mr. rose to our report please. mr. chair and supervisor avalos phone number on page 6 we report the 6 million dollars 4 hundred thousand dollars budget for the substation is shown in table the one on page 2 the puc has collected (3) 100-0000 for that projects in table one on page 4 and the puc is expecting to

collect the remaining 3 hundred 299 plus from possible revenue sources we explain and describe on page 67 of our report puc has not expended any funds on the upgrading project and the construction a has not begun puc intend to precede are the environmental review totally $375,000 our recommendation supervisors we recommend you approve the letters totally 3 hundred and 75 thousand for environmental review for the upgrade of the transformer at the warren substation and recommend you continue to retain the balance of 2 hundred plus 6667 on about budget and finance committee reserve pending the puc of the budget and finance

committee regarding construction. >> okay. it mr. rose i understand the puc is in concurrence with those recommendations. >> we are. >> any questions anybody wish to comment on item one seeing none, public comment is closed a motion to release the reserve and accept the budget analysts recommendations and we have this motion and take that we'll take that without objection. >> madam clerk item to. >> mr. chair would you like to file item one. >> we'll make ta a motion. >> taxing take we'll take that without objection. >> item 2 the ordinance of the code to authorize the director of public health to enter into a magnitude care for the position of services to individuals under the federal and state coverage for the income populations.

>> thank you madam clerk this is an item i introduced i've got talking points are mr. wagner we'll take it from there. >> greg wagner chief financial officer at the public health under the affordable health care we were seeing a significant expansion of insured folks in san francisco is it is a good thing under the affordable health care in order to flel fully gave me and be a provider we have to enter into contacts with plans so we can continue to provide services for all of the people enrolling in insurance so what we're asking today is for the board to clarify our authority to enter into those contracts we have a significant portion of our population we're

currently servicing today at dpw if they enroll in coverage under the ac a may not be able to enroll and it's a revenue issue for the department before opportunities to bring in revenue under the affordable health care so we're working with the supervisor mark farrell on a proposal to give us the authority to enter into those contracts if they meet minimum financial stadiums to assure we'll have the payments rates better than the medi-cal management rate will allow us to the flexibility to move into negotiati negotiations and continue patient care. >> thank you mr. wagner

why not move to our report mr. rose. >> yes. mr. chair supervisor avalos on page 11 of our report we note that the dpw estimates and will receive up to $30 million per year starting in 2019 under the manage care contracts our recommendations on the bottom of 11 page 4 lines 6, on page 4 lines 16 and 18 to read authorize the director of health to enter into contract in december 2015 each of the to generate revenue to the city and recommend you approve the ordinance as amended. >> thank you, mr. rose seeing no questions anybody want to comment on public comment item 2

seeing none, public comment is closed. mr. city attorney and john gibner, deputy city attorney if the committee is inclined to accept the budget analyst recommendation to limit the authority to contracts that go through december, 2017 we'll tweak it to make at that happen currently, i can enter into a contract more than 3 years that will not be necessary and reporting reinstatements in the ordinance that in the current draft continue definitely so consistent with mr. rose's recommendation we suggest that if those reporting remits only apply until december 2017 as well >> so in terms of approving the amendments can we send out today or hold back here.

>> you can vote it on today an, an oral report and send it to the full board for the next meeting. >> i'll recommend we accept the budget analysts recommendation and all the magic the city attorney will make it consistent with the overall resolution. >> i'm happy to second that we'll take that without objection.. >> thank you. >> madam clerk call items 3 and 4. >> revvingly accepting a grant of one hundred and 17 thousand for a root construction company for improvements to the pathway of hertz playground for the period of may 15th to may 31st, 2015, and 30 years the rec and park to accept the grant of 3

hundred and 38 thousand for baseball playground for the period of mayor 2018 to may 3 t may 31st, 2015. >> we have a lady in supervisor malia cowen's office. >> thank you for hearing those two items the two grants are helping us to improve hertz playground the minor technical amendments were handed out and north america than will present those two items. >> good morning. i'm with the rec and park partnering division here to present that items 3 and 4 for the hertz baseball diamond and grants in place those have been wonderful projects addressing the conditions of the playground the city is looking to improve for someplace the hertz baseball diamond has been

in disrepair the problems fencing and air patches in the out field around the same time the department was looking to improve the fields we were approached by a organization and oats hertz baseball diamond ways put forward for consideration contractor ac jones wants to get the work the backstop was repaired and pained new amenities including a scoreboard and bat racks in the dug outs to celebrate there was a whiff event on may 3rd from tlc worked to get the sod down the based contractor societies proposed for another grant to roommate a

major pathway in the back of the beautiful koffman pool to the basketball courts this previously dirt pathway ways replaced with an asphalt that meets the standards and easy assess to the amenities those projects were capped by a ribbon celebration on may 31st that included a baseball game on the new will i improved baseball diamond the construction we want to recognize the important contribution from the department of public works those entrants brought wonderful needs to this park and hopefully, you'll approve those. >> thank you much have of up colleagues any questions no budget analyst report so public comment anybody wish to comment on items three or four seeing none, public comment is closed could i have a motion to send

those forward. >> a motion by supervisor avalos. >> mr. chair there are amendments by supervisor cohen's office would you like those. >> are we taking those as amendments to the whole. >> motions to accept the amendments as a whole and approve the resolution and moderate with recommendation. >> thank you madam clerk call item 5. >> is a resolution retroactively to accept and expand a grant in the amount of 8 hundred thousand for the disease control and preservation to participate in a program called racial and ethnic programs for the period of september 30th through september 30th, 2015. >> thank you very much is it jackie from dpw. >> i'm jackie the deputy city attorney with the public health i'm here to ask you to accept

the funding for the racial and ethnic community grant the goal to address the cardiovascular among african-american and latinos in the heart of san francisco and it's an effort to reduce those that have heart disease are at high-risk we'll be lincoln patients with the agencies to enhance hour heart health ze we have a program lincoln people to the hunters point so this effort will be describing more non-pharmaceutical positions for people e people to enhance their heart health. >> no questions for me we'll move on to public comment motorbike wish to comment seeing

none, no one in the chambers. >> we'll take that without objection. >> madam clerk madam clerk, any other business before this committee? >> no, mr. chair. >> that's correct folks we're adjourned today commissioner si present, chung, cash mer. >> the motion for approval of minutes. >> so moved. >> second. >> any discussion? all in favor say, "aye". >> aye. >> any