that was represented by andrea barker and glen white two respected consultant and holly the neighborhood program manager with the mayor's office of housing office of economic workforce development and ceo the hispanic chamber of commerce and myself and bob davis so to go through the proposals the port and a selection panel engaged in a comprehensive process in the packet of information we have the score sheet and the summer results so just to give the audience just a quick flavor of what some of the criteria were the swaeths evaluation was the creativity of the business plan and the history of the respondent and profit and loss and cashful loss

and credit history the business plan and prior experience proposed use of the retail site based upon the desires that the port has for serving its mission a working relationship with the cd organization to assist the l d v and references to give you an example of one of the respondents proposals looked like in terms of sheer volume this is what we received so again, just a tremendous effort those are small businesses working and to do this and put this kind of proposal with that comprehensive knowledge we were delighted they know do this and show a professional level it made the selection difficult because of the this type of effort as you can see in the proposal we ranked them and the

rankings individually and incomprehensive come out with queens the louisiana cafe being the highest respondent i'm going to turn it over to bob casting so he can talk about queens. >> commissioner president katz and commissioner adams congratulations for your service commissioners executive director i'm bob davis i'm with the real estate section any charge was to assist jay in bringing the pier thirty 33 and a half forward and the instruction of the commission and the executive staff i've reviewed the execution i believe the outreach was on target as reflected by the respondents they represent a

cross section as a diversity in keeping with the vision we have for san francisco the proposals were all good as jay indicated they were all the respondents deserve to be commended, however, queens pool boy cafe almost in every category scored highest their business plans reflects a sensitivity to the ports deserve to have a financially stable retail operation there it represent the ports deserve and the commissions desire to reach out to the small businesses not currently located on the port and hadn't been ware of the importantly opportunities the port officers it raise a diversity for the retail experience for the customers

that are up and down the wafer to get a flavor felt san francisco we're bringing the neighborhood down to the wafer in a responsible way that is what the commission that in mind and that's our deserve with staff i visited the restaurant i sit in on all the meetings with the selection committee and i think that is selection the process that the queens went through will reflect in a positive business experience for the port and positive eating experience for all the people that walks up and down the wharf so our the owners of queens are here today as well some of their references and we are certainly available

for questions if you have them. >> thank you and that concludes my presentation. >> thank you. do the owners of queens want to make a short presentation? or introduce at least stand up thank you i have been to our restaurant on san bruno i'm a fan any public comment on this item? seeing five to six yes. i have some >> marcus toward and good afternoon and congratulations on tour new nominations or recent nominations for the record marcus toward the stewardship center in the bayview inch delighted and honored to be here

as a person born and raised in the boifrpt i can't tell you how great it is to have neighborhood business being located in the prime location of one the greatest cities in the world not only is it great but great for the other community businesses that work tooirls everyday in that 0 community this is a beacon of hope if they can do it let's other businesses in the community knows they know do it as well this is really easy for us they know the business and i mean folks mention to the extensiveness of the proposal and so you have to really know the business you have to really knows your capacity as a business owner to carry out a

bits like this there are many small businesses interested in this project, of course because it's a great opportunity but not many have the capacity and really know their business well enough to carry out this project, and, secondly they realized they need a team so as much as and know about business operations they also know they have to have a really good team at that indicator this project we're happy to be part of the team they have representatives and we have a restaurant consultant they've been working with so i think they have a really good team actually, i know they have a good team and lastly about the community i think something that's really dear to me is that they're great community ambassadors for the bayview hunters point community out in visitacion valley the

southeast sector and bayview hunters point and potrero hill and, of course, ca troll they support another businesses and support the community stakeholders and again, i'm honored to sing their praises i hope you'll paragraph this request thank you. >> thank you. the next speaker is jack. >> good afternoon commissioners my name is jack the manager with the approved or disapproved london neighborhood association any role is to support small businesses on the avenue to revitalize the commercial corridor and make it a great place in the part of san francisco in the last couple of years i've worked with the gentlemen with the abides restaurant and i found them both

hardworking bits people and have amazing good but ambassadors for our neighborhood tyler genuine folks and create successful food in the cart eric garcetti business it's been my pleasure to work with them on neighborhood improvement initiative the sense of community is commend able to hosting blood drives and other event just the willingness to nominate and help the community it is why i nominated them to be restaurant of the year so i'm very much in support of the application to the pier 33 space i on it's fitting of the embarcadero and fortunately for us we may not be able to say scenes is the best kept secret

by the city's gain for the waterfront for locals and visitors alike to enjoy so i hope the commissioners support in their recommendations and hopefully, i gave you information on their background and molls most up u of all i'm looking forward to enjoying their food thank you. >> thank you. is there any additional public comment seeing none, public comment is closed. commissioners. >> go ahead doreen. >> oh okay i'd like to thank director moyer and the entire staff for coming up with that opportunity i think this has shown a need for this type of opportunity address i'm really extremely

happy 25i9s a perfect process we had a difference and qualified we had great applications, great interest and we came up with a great restaurant for this opportunity site and so it's just perfect so it shows our need for more opportunity like this and i really want to congratulate troy and daniel for putting such a wonderful proposal together i know you're going to have nothing but success on the other hand i hope we're able to negotiate a sustainable long term lease so they'll be here for years to come thank you. >> thank you. >> okay. well i think commissioner brandon said a lot of the right things so i want to add my personal element number

one great to hear we had so many qualified mraksdz and had the successful opportunity for the l.b. opportunity wanted to personally say i love the caging even food i give a party myself once a year i practice what i preach i looked forward to coming in and visiting our operation i want to say obviously this opportunity is very important and i hear that we really covered that which is not only have to have an interested party by the capacity and i think as commissioner brandon oeblgdz sustainability sound like 0 that's the case so that is good news for everybody to see we have a sustained opportunity with pertinent jobs for people as well as the public in terms of the food so thank

you. >> commissioner murphy. >> yes. thanks san francisco transportation authority finance committee for bringing this together it's deserving getting the contract or close to getting the contract never as you probably already know the secret to success s succeeding success is getting up earlier in the morning and the following day get up earlier for success that's it for me from the business dbi (laughter). >> thank you. >> commissioner adams. >> i'd like to okay. my follow commissioners has said to susan jay and bob and director moyer this condition gave us clearly dloouns was done here i appreciate the consolidation but want to give a special thank you

to troy and daniel i know you'll be a great team at the port of san francisco you deserve the world to exposure i want to say i appreciate this commission it to the foresight and vision toe step out to broadened our base this will be something that will give other people an opportunity the small guy deserves a shot small businesses it would do well and this is what this commission is about and everybody in the city has a he will playing field. >> we should share this with our a demonstration partners we should share that wonderful pilot opportunity.

>> i'll objectively the comments of my colleagues and i'll take commissioner murphys advise i think this is really excited we were able to come up with an approach that really makes the waterfront even nor assessable to local businesses and the outreach that was done so i want to particularly thing bob and jay and susan could you please stand up i know you've worked hard (clapping) and she's conceived of this and as my colleagues said we're proud our commission has done something to make our connection that much closer to our defunct i community and expand the opportunity for everyone additionally pleased to hear the tremendous community involvement of queens and i want to thank you for of of that and it makes

me happier we'll be working with you and what an t demonstrates the potential and opportunity for other small businesses and so i'm pleased i want to thank the renaissance center i'm familiar with the center this is another example which your commitment to our community oh (laughter) iemths to have to put my glasses back on tuesday for the rerns renaissance and i can't think of another example of the kind of successes and most you will all congratulations to troy and daniel i'm looking forward to dining at the i assume the new

location at piers 33 and a half thank you overview lane and commissioner brandon that's a tremendous idea i know that, you know, the staff can work with some of the partners i also you know we had a lot of strong applicant and to the extent we might be able to look at other opportunities maybe this wasn't the right spates for the other proposals but look at other opportunities for others and to replicate what we've done her whether possible next item and item 11 presentation for the amounted of agreement to the san francisco redevelopment agencies and the port commission regarding the termination and to the south beach project area operation at south beach harbor and other improvements and related financial terms through the december 16th repavement e

payment of the south beach revenue bond. >> good afternoon elaine ford the executive director of the finance administration here with peter daily and laurence brown from the port staff and others and jim morldz and our city deputy director of the community infrastructure it staff has negotiated a memorandum of understanding to transfer former san francisco redevelopment agency assets to the port those assets are all in the redevelopment area that is called the rincon south beach plan area all port property both c ii staff and this informational presentation is to provide you an opportunity to review our terms of the

memorandum of understanding and offer us fenway before we come back and request action at the next port commission hearing so as is remember we were here two years ago our redevelopment agency was one of 4 hundred agencies that was resolved through the state the successor redevelopment is the office of infrastructure and to realign the assets the ocii prepares a property management plan that describes the disposition of former agency assets and the port it assumed responsibility for the ron con beach area lukely in the late 80s the redevelopment agencies had the foresight to go to the legislator and get the plan and

develop a beautiful neighborhood and terrific unaccented in the area it required the legislation from charters 310 not only to enable housing on the land but also to authorize the port to enter into long term leases with the redevelopment agency the area includes those two housing developments the residential projects two waterfront parks and south beach harbor it was also the plan those assets will return to the platoon for the project to be complete and the state legislation recognized the aspire tools to provide for those two major improvements and the improvement were complete they were to return to the long term care it does all the improvement are substantially complete but for outstanding b.c. bcdc gookdz

i'll industry the question is long term were in the best interests of the trust so here's a map of the property it includes 17 leases 13 sub tenants of ocii i've discussed the point pier 40 the southeast harbor and rincon park the sub tenants are carmen and american truce and etc. when we were here in two years ago wisp talking about a transition plan at the time and we recognize there are financial barriers to transition including and operating deficit in the harbor and long term debt associated with the harbor and

bcdc obligations we've worked with ocii the port commission gave us recommendations we work with ocii and the ocii commission to change the financial outlook of the harbor the burden rates 22 percent and adding a parking fee of $600 putting on another fee who was an $800000 debt is now a positive position ocii i worked with the city to occur tax increments of $450,000 to apply to the revenue bond par this slide shows the 5 year projections of the harbor we're now at a positive financial projection revenues s are sufficient to cover the operating 0 and after the bonds

we're looking at the net of one million dollar it will be on ongoing loan payment of 5 hundred and 35 thousand we've corrected the situation working with ocii the way this chart this is very difficult to read is structured to look at the flow of fund described in the report that honors the indenture of the bodies pain and suffering the bond first in capital at the bottom so as i've described it is this asset was originally constructed in the late 80s 1986 the agency fined the harbor through the revenue rate bond that will will be repaid in 2016 and the loans

totaling $8.00 remainder on the bonds they'll be repaid staggered 3 years the last year three 6 with the program totaling $10 million as with all assets especially half-life assets there are capital needs on the harbor there are net obligations due in 2017 that will cost $72 million with the public asset at pier 40 when the permit was in it was a use program on pier 40 there's safety meetings needs the port has hired an engineering firm to look at the condition of the harbor this report will be $78 million for the safety and

repair improvements the harbor needs drudging we estimate that to building $3.5 million we're seeing a total capital need of 8 point - $17.8 million when the loans are repaid we have $17. million of need so we have a shortfall of $5.8 million relative to the need we will need to as we do with all our assets and prioritize the capital investment cut the expenses in the harbor the way we've structured the south beach harbor is a self-supporting gris enterprise to it stays in the harbor for improvements we've begun talking with the boaters and begun a conversation with

bcdc for 9 public asset programs there's a lot in water recreation it is more affordable relative to the permit obligations that were put in in the 80's >> so our strategic objective is obviously to maintain south beach harbor as a world-class facility to benefit the public there are benefits to the port of early termination first, the assets that the agency caused will become ours and have a balance sheet improvement, of course, they'll be deappreciated because of the time value but still a balance sheet north of $14 million a substantial value to our myths in operating the facilities early tefrmgs allows

to u to transition from a month to month tenant to port terms and continue to work with the south beach harbor in terms of the parking improvements and other revenue generating so the mo a terminates the leases and the sub tenant will become port tenants and the obligations will be light ports responsibility we'll assume the loans of $7 million we will transfer south beach harbor net 0 revenues to pay similarly and benefits of the ocii employees and the revenue debt is service and, of course for the south beach harbor including the property management and park maintenance we'll get up the artwork and designate the harbor as a special facility to segregate

fund there's a lot of details in the report but essentially it's to insure that 9 south beach revenue continue to be pledged to the south beach revenue bonds from a policy prospective as i've said we have the cal loans will have a revenue pledge not implementing 9 ports fund under the mo a ocii will be responsible for the bond payment so in the summer of 2016 and will continue to apply the tax revenue payments the gapdz to enter into pa new letter of agreement provides for funding ongoing funding for expansion and secure 3 hundred thousands of payment for the port to provide the port security

so our next steps are to seek our program with the mo a and that includes the south beach as a special facility and once that is done the agreement will in the be effective until the approval bodies have approved and the ocii commission and the oversight board we'll need a currents e concurrence we'll transfer it will not become effective until we transfer the loans and the subsidized agreement letter is done so we have the maintenance the $300000 for the park security with that, i'm here as is mr. morales and levenson and mr. brown to answer any of your

questions. >> thank you any public comment on this item? seeing none, public comment is closed commissioners commissioner ho. >> yes first of all i want to commend this is a great report it must have been about a and a half maybe it started it caused quite i guess an uproar among the attended as far as the changes we had to go through a lot of changes first of all congratulations to the staff from monique on down to elaine who all worked on it be we're pleased to see we're operating in the black and after debt payment we'll have the capital available to work on some of the permanent requirement i guess i had a kwouch of questions one i see the gap