all right good morning, everyone, this meeting will come to order, this is the regular meeting of the budget and finance committee i'm comen chair of this committee and to my left is supervisor katie tang and norman yee will be joining us shortly and our clerk is miss linda wong and recognize our friends at sfgtv who are assisting us with this broadcast this morning. madam clerk, do we have any announcements? >> yes, silence all cell phones

and electronic devices and completed speaker phones and documents to be included as part of the file should be submitted to the clerk, items acted upon will appear on the board of supervisor's agenda, unless otherwise stated. >> we will not be having a board of supervisor's meeting next tuesday do you to the holiday. >> madam clerk, item one? >> item one,resolution approving and authorizing the execution of a purchase and sale agreement with the city of pleasanton ("pleasanton"), for the conveyance by the city and county of san francisco, acting through the san francisco public utilities commission (sfpuc), to the city of pleasanton, consisting of approximately 3.18 acres of real property located at 401 and 403 old bernal avenue, pleasanton, california for $4,200,000; adopting findings under the california environmental quality act; adopting findings that the conveyance is consistent with the general plan, and the eight priority policies of planning code, section 101.1; and authorizing the director of property and/or the sfpuc's general manager to execute documents, make certain modifications, and take certain actions in furtherance of this resolution >> we have got russell from the sftpuc to present on this item. good morning. >> good morning, supervisor and thank you for the opportunity to appear. so the puc is selling some under utilized property in order to offset costs for our capitol improvement program. we have been working for almost a year with the city's real

estate services division to issue public notices and market, and solicit bids for our under utilized properties. we accepted an offer for one property that has two addresses, 401, and 403, old brunell avenue. and then 3 residential sized lots at helen drive. and first we will show you a picture of the pleasant on property, this is a remnant of a very large parcel that we sold many years ago. zoned public and industrial. we acquired the property when the city as a whole acquired the assets and properties from the spring valley border company in 1930. this property was used for ground water operations until 1949. and in or december 13th, 2006, our commission declared the property surplus to our utility

needs. and in attempting to sell the property, we worked again with city real estate which issued a request to proposal foz commercial real estate brokerrage, and city real estate selected caulers because it complied and it had the lower rate of 2.75 percent, the budget analyst report had a little discrepancy. beginning in on february 25, of 2016, we complied with the california surplus property statute and the ordinance by issuing notices to all public agencies and non-profit housing groups that required notice. we received no letters of interest from any housing sponsors or public entities. this conveyance