controller's office is to use a portion of those proceeds to fully fund, phase one and the remainder which is still quite a significant amount, be used for phase two, and in the downtown extension. >> and is the melaru the condition on getting this loan? >> no. we are covenanting in the credit agreement to work with the city, to the district and we cannot control the formation of it but we do covenant in the credit agreement that we will undergo or undertake our best effort to insure that the district is formed. and of course, you approved the executive director voting in favor of formation that was our last meeting. >> and just by way of background, director on the status of the cfd, the city board of supervisors has taken two of the three legislative actions that are required to

form the cfd and it is schedule a special election, for closing on december 29th. and we anticipate that the city board of supervisors will take its third. >> i understand that. >> okay i just want to and if we prepay and everything goes well, and on the year, and that insurance that we purchased for all of that time proves worthless, i am going to be upset and so your job is going to be somehow to find a buyer for that because that will be wasted money. >> and brian will send you a copy of the check that we receive for selling remaining interest rate cap. >> yeah, okay. >> yes, go ahead?

>> it was a meaty item and there could be a item that proceeds and that will be helpful and it was really a lot to absorb and this is not my area of expertise, and having said that, i will support it because, you have to keep the project moving having said that, i will add, i think that some of the reservation with me, because i am a recent board member and i don't have all of the history and all of the that item will be helpful because there is a new budget to come out and with the draw down of

the contingency and maybe this item triggers another need for boosting it up and missing that large picture, and how that might influence that and with that unknown, it makes me nervous, and so, i just wanted to say that for the record, and i think that it is essential and it has to be done but i think that those steps from staff will be really helpful. >> we have one member of the public that wants to address you. >> thank you, very briefly, i want to remind you that until you prove to the contrary, route five is the only way for us to get to the east bay, and i have actually looked at the tower and i have a good idea of what attracts me to look like,

>> and that concludes the members of the public that want to address you uppeder that item. >> we have a motion from director reiskin for approval? >> and is there a second? >> second. >> and the first and a second. >> director lee? >> okay. calle roll. >> director lee. >> yes. >> nuru. >> yes. >> and reiskin. >> aye. >> and vice chair harper >> aye. >> as well and it is four ayes and item nine is approve. moving into the next item

ten,authorizing the executive director to execute amendment no. 1 to the professional services agreement for temporary terminal facility management services with abm facility services extending the term of the agreement by three and one-half years to june 30, 2018, and increasing the maximum compensation by $3,957,188 to $9,500,000. >> and directors, sandra here to report on this item if you have any questions? >> my only question is how do we evaluate how have we been evaluating the performance to date? >> so if we could respond to that, please? >> ab has been the facility manager since we opened in 2010 and they have performed, well, and they have come in under our negotiated budget each year and they have done an outstanding job, and not only maintaining

the facilities security wise, and maintenance wise and repairs but they have done a lot of work on the perimeter and maintaining the sidewalks and even going over to the 108 stop and cleaning up there. and so we have been very happy with them, and what this proposal is, is basically, to execute two single year extensions that were in the original base contract. and then also, another year and a half to cover operations of the temporary terminal until the new transit center is opened and that year and a half, basically, came about as a result of the funding for the drain box and so once we executed that, it extended the schedule out for i don't see

any oil stains on the concrete, which is amazing considering all of the buses that we have circulating through the terminal and the beloved palm trees are in order and kept healthy which is important to us and it has kept us free and so that is how i personally evaluate it in addition to the work that our staff does and they are doing a good job. >> thank you. >> is it as clean as they used to maintain the old terminal? >> it is cleaner. >> i have the same impression just as a user, very clean, and at least that is all that i can pick up on, and that being done very well. >> okay. and is there a motion? or speakers? >> the members of the public indicating that they want to

address you on that item? >> so is there a motion for approval? >> and did i miss it. >> a motion for approval. >> motion? >> yes. >> and the second. >> and would you call the roll please? >> sure, director lee, yeah. >> nuru. >> yes. >> reiskin. >> aye. >> and harper. >> aye. and well that is four ayes and item ten is approved and the next item is eleven, the annual review of board policy number 009. the investment policy in conformance with the california government code and director sarah is here if you have any questions on this item? >> is there a motion? >> just a review. >> no. >> no questions from the board and no members of the public wanting to address you we will move into your next item, 12.

approving an amendment to contract no. 08-04-cmgc-000, authorizing webcor/obayashi joint venture to award a trade work subcontract to crown corr, inc., for tg08.2r: exterior awning in an amount of $1,750,000 for the design services portion of a design-build contract for the exterior awning, thereby increasing authorized direct costs by $1,750,000, and the authorized construction services fixed fee by $133,000 >> >> and masser savana will report on this item. >> good morning, directors. sorry. and let me just start with the summary of what we have awarded today and what we have awarded to go. we have awarded 805 million dollars to date, and this meeting we will recommend award for 3 packages at 89 million dollars. and there are the exterior auning design services only, and the electrical package and

the access equipment, and what is with that, and our total awards with what is recommended to date and what is awarded is 894 million dollars. the value for the packages is 213 million dollars. and that for the direct cost excluding the fees and the upcoming trade packages that was developed in february of 2014. and 246 million dollars. the difference is 33 million, and as well as the 26 million dollars in potential, and we continue to work with the mayor's office for the funding for the parks so that we can open the park with the transit center to be sure that the park can be opened with the transit center and issue, with what i think and the prepackage that

requires the lead for the plant course and we should do that for last month, and we will bring it for at ward in january. also with the elements of the park in january and this was bringing that to the board for award in june. the contract will be paid a set fee, and once the design is completed and the total cost is agreed to and the construction cost portion which is step two of the process will be brought up to the board for approval and incorporated to the example of the contract once the board approves the awards and as you may recall, the exterior auning and the packages that were issued for the mid novemeber, 2013, and we have the full

prequalified bidders and did not receive any bids as part of the january, 30, date. and the design team and to the potential bidders and previously, and the requalified bidders and it was determined that a effort and the design built effort and the procure a method would be the best approach for this package to provide the best competition and the least price. and with this method to work with the teacher and with the design team and to design the awning to the budget and if the agreement on the construction cost cannot be received, and the design or the completed will be the property of the tjpa and they can just issue for the bid the design package comparatively, and on a regular procurement process. and they reissued the request

for the proposal in july of 2014 and we received three proposals one from crown core and one from (inaudible) and cobra and evaluated on a 500 system and 300 points of 60 percent for the price and 200 points of 40 percent graded for the qualification and financial strength and experience and other factor and so for the purpose of the determining the total proposed price, and the section fee and the percentage and the construction overhead percentage were multiplied by the 30 million dollar construction value. (inaudible) scored the highest, and the construction fee of 18 percent and overhead fee of 12 percent. and crone core's total price was based on a 30 million construction value, (inaudible)

price was 12.8 and (inaudible) and that ends my presentation for the trade package, do you have any questions? >> could you relate what is budgeted for the total amount? >> yeah, the current budget is 35 and 36 million dollars and in the budget we assumed, 30 million for construction and 20 percent, or total overhead and fee. and that is what the 36 million dollars, and what the total cost is going to be 40.75 million dollars and so there is about 5 million dollars, and now, the 3 proposals that we received, when we interviewed each of them indicated that they could do, and they could design it for less than 30 million, and so as we sit down with them and with the crown

core, and maybe we will be negotiating the best value for us. >> and the cost sharing for our project that is under $30 million is enough to offset their fee? and i mean, is there enough incentive built in so that they actually have incentive to bring it in at less than 30 million. >> and we believe that they do. and for any cost, and less than 20 million dollars, we split the difference and so if we can come up with the cost and they will get 2 million and we will get 2 million dollar back and so if we design it for 25, and the total cost will be 35 million dollars. and so, the proposals and the crown core is that we could design it for less than 30 million, and given that we did not receive any bids on the initial for the bid we want it to be on the safe side, and assign the 30 million dollar

value. >> maybe, i don't understand how this is working. we don't know what the construction costs will be, we don't know what the materials and we don't have to work out an agreement. so, i would have thought then that we said, look, there is a design services, and we will find out after it is designed what it is going to cost and then you will be bidding on that and then on that basis, i thought that is what you were saying was going to happen, and so these numbers, that crown core inc has in for the construction fee and the construction overhead, are really just plugged numbers, based on an estimate of construction costs. and now, in effect we will say, design it, and then we will figure out the construction, and so, why are we getting into a construction fee or a construction overhead? >> okay. >> so we have asked them to bid the design services and also

asked them to bid, the cost for overhead. and the cost for fees. and so, the 12 percent fee and the 18 percent fee and the 12 percent overhead and these are fixed percentages. they can't, and the one... >> they can't change those. >> no. >> because we asked them to bid because we did not know what we, and given that we did not receive any bids for the awning it was a unique trace package and we wanted to set the fees. >> right. >> and set the overhead, and set the design, and effort and sit down with them with the designer and work and we would be able to design the awning. >> yeah, and they bid, 18 percent and they bid 12 percent. >> yeah. >> and bid, 14 and they bid 32 and so the dollars don't p make me... >> no they are just a plug value. what we and the upper limits of what we want on the awning cost. >> now i understand. >> any other questions?

>> no member of the public. >> motion for approval. >> second. >> second. >> and so, we will take the roll? >> director lee. >> yes. >> nuru. >> yes. >> reiskin. >> aye. >> harper. >> aye. >> that is four aye and item 12 is approved. go ahead and tall your next item. >> item 13 is approving an amendment to contract, number08-04-cmgc-000, authorizing webcor/obayashi joint venture to award a trade work subcontract to shimmick construction company, inc., as the responsible bidder submitting the lowest responsive bid in the amount of $481,785 for tg15.2: façade access equipment, thereby increasing authorized direct costs by $481,785, and the authorized construction services fixed fee by $36,616. >> >> and mark will also report on this item. >> and this scope of work for the was it, do you see it on

the screens? >> sorry about that. >> the scope of work for the package of 15.2, is to provide the david and the cranes for the window washing system on the west end and to provide the fall arrest protection systems at the various structures of the roof support and we have a lot of structures on the roof top and they will provide the full air systems for that and the scope of work provides a three year warrantcy, and it was issued for a bid on august 7th, and the budget was 334, 458 and the estimates was 387,220, and the package had a five percent goal and prequalified and two bids, and one for 313,000 and one for 481,785 on october 15th and this is a break down of the two bids and submitted for the bids

for 481,785 for the bid for $313,000, and the estimate was 383,220, and the budget was 334,458. to the lowest bid and however it did not meet the goal and also his bid included several material qualifications that renders the bid non-responsive. and as a result it is recommended to award the package to simic to the amount of 481,785 and the balance of the 147,000 between the budget and the recommended award will be funded for the program reserves and after the award, the program will be balance will be 42 million. >> directors? any questions? >> and that is... no, it is not that much money difference in this case. and so, any speakers?

>> no member of the public wanting to address you under this item. >> okay. >> is there a motion for approval? >> okay. >> we have a motion and a second. >> would you call the roll? >> director lee. >> yes. >> nuru. >> yes. >> reiskin. >> yes. >> harper. >> yes. >> that is four ayes and item 13 is approved and to your next item is item 14, approving an amendment to contract no. 08-04-cmgc-000, authorizing webcor/obayashi joint venture to award a trade work subcontract to fisk electric company as the responsible bidder submitting the lowest responsive bid in the amount of $86,799,400 for tg10.4: electrical, communications, security and integrated networks, thereby increasing authorized direct costs by $86,799,400, and the authorized construction services fixed fee by $6,596,754. >> and mark will also report on this item. >> okay. >> the scope of work for the trade package of 10.4, and the

systems includes all of the electrical and communication, and security system needs as well as the it and infrastructure needs for the transit center building and the scope of work also includes providing temporary lighting and power for the construction and activity and the scope of work does not include, work on the roof top park as mentioned earlier and we will continue to work with the mayor's office to identify the funding for the roof top park which includes all elements above the fire sorry the water proofing protection slab. >> we bid the bids were open on october 2013, and 2014, sorry, and the budget for the work was 54.3, and the cng estimates, and this trade package this a goal of 15 percent, and 6 bidders and prequalified, and in order to maximize the chance of receiving a maximum number of bids, they held three bidder conferences two for the entire scope of the trade and one for

specific to the communication and security scope. and included in the detailed discussion of the scope of work and the contract requirements by the designer, and the cngc, and all of the conferences included in the question, answer sessions to conclude that they are responded to promptly, and to the satisfaction of the bidders. and two bids received and one bid in the amount of 86.4 million from (inaudible) electric and the second bid from the amount of 151.7 million dollars from (inaudible) and in addition to the three bidder out reach meetings, the cng significant out reach, to keep them engaged and the bidding of the project and of the 6 bidders, two bidders early on will join the venture and submit the third bid and however one of the bidders was awarded a large contract and was unable to participate. and the other two prequalified bidders indicated that they are

too busy and unable to participate in the bidding. this is a summary of the two bids received. to reduce the cost and provide the best cost, proceeds nine alternative and two alternative and several cost and measures consistent for the construction costs and the plan presented to the board in may. and electric submitted a bid, and in the amount of 87.7 million and a total bid price including the alternates in the amount of 86.6 million and the value of the alternates and the bid is 1 million, 144,000, and on the basis and excluding the alternates in the amount of 152 million and a total price bid including the alternates of 151.6 million and the value of the bids was 1 million 730,000. and this is to include the

deduct alternates 4, 15, and 23, and 16, and add the alternates, 18, 8, and 21, and indicated on the slide for a total value, and incorporating this in the scope with the preserve tjpa's ability to inclose the lobby and provide the waging and the heating in the hall and previed the security booth, and the speed ramp and previed the connections for the led screens and the street lobby and the ground floor for the future incorporation and the potentially regenerating. >> this is recommended to award the package of 10.4, and for the amount of 86 million, 799,400. and the bid is reflective of the market conditions, and the project is under the critical

path. >> questions? >> i have... >> some more slides. >> okay. >> i wanted to go into detail on how we are going to fund it. >> okay. >> go ahead. >> if the board. >> yeah. >> okay. >> this is a summary of how we are proposed to fund it, and the total award a86 million, 799,400. and the budget is 54.3 million. and we to utilize 27.26 million for the reserve and 5.19 million for construction, and the balance will be 50 million dollars and also for the construction will be 54.54 million. and this is a summary of the program reserves and the budgets is a total of 224.9 million. and after that award of the

three proposed packages today, the total transit center balance will be 123.8 million dollars, and based on the cost of up to the trade packages and the cng estimate and the budget, we expect to draw, down 22.2 million dollars to the contingency and as well as utilize in the potential revenues for the set of lock five. in order to award the packages, and that will leave the projects with 85.2 million in total contingencies, and 38.4 for the cng and, and 50 million in the program reserves. this is a summary of what we have awarded to date. and since the budget was approved in july of 2013, and it was awarded, 197,000, 197 million dollars, in packages. and the budget for this package

were 152.13 million and the estimate was 270 million dollars, and the difference between the budgets and the awarded before today's meeting is 45.5 million dollars. and with the recommendations today, we would award the amount since the budget was passed will be 286.85 million dollars, and the difference between the budget and that will be 78.1 million dollars. >> after all of the awards, and for the packages are completed we would have 70.2 million dars in construction, and this amount is approximately, 3 percent, of the ongoing, upcoming work, and but it does include covering over exposure, and that is current exposure, and all other exposures. and this concludes my

presentation. >> director reiskin? >> a friend of yours? >> i think that it is a big concern of all of ours including our cac. and i guess that just starting at your last point, what is the current exposure that we have? terms of outstanding change orders or claims? >> since we are in the negotiation for the claims, and some of the change orders, >> could you give us an order of magnitude in terms of what has been submitted against that 70? >> approximately maybe half of that. >> and i am not, exactly sure of the number, to date. but i can send you the information, though. >> but just that. >> that will leave us in a very low single digit percentages in terms of availablable contingency for a project where it is just now coming out of

the ground and we have not started really any of the building work. and so it is obviously, and you know, my earlier question, was, you know, what is the fta or whoever is providing risk management guidance and recommending that we have at this point and that seems like it must be substantially under that at this point. >> so the projected balance, after and the packages that come in the cng budget and we are assuming that based on the experience with the three or four bids we will come in the estimate and the remaining balance will be 85.2 million, which is 31.8 for the construction contingency and, and 50 million dollars in program reserves, and the fta, and latest report that was in june of this year, and recommended a balance of