today is the second reading to lower taxes for cfd 7 and 8. followed today's meeting we'll be back before the commission and following that? july we'll take steps to close out the line of credit. that concludes the staff renation. presentation. >> we will be taking action on these items as well as public comment so if there's public comment on either. >> i have two speaker cards. [inaudible]. >> [inaudible] i'm very amazed at the fact when i hear conversations about what happened in 2008 and '10 and what you're doing today is really out of order because of the fact when the board of supervisors and city planning supported the project going forward, we had to get an attorney, the community did. and i'm quite sure we know about the lawsuit because they was not negligent. none of that land was clean and it stated, the judge ruled and if you want the information i'll give you -- call me. my number is 467-0535 and i will give you the phone number to the individuals that made the lawsuit come about and give you the judge's ruling. again, my number i

ieu of property taxes and make any required cfd payments. given its tax exempt status as a to make one time lump sum payments instead of annual payments over time as required by the pilot agreement. these payments are detailed in a memorandum of understanding unrelated agreements which were approved yesterday by the as follows. first an affordable housing payment which is a one time lump sum payment from uc toocii of 10.2 $10.2 million for pouzing in housing in mission bay south. this time to fossil, a payment of $21.9 million for public infrastructure in the south. in addition uc has agreed to pay the essential taxes authorized under cfd which maintains the parks and open space and which helps public infrastructure costs. uc estimates these payments at approximately $10 million. ocii hired alh and regional economics to conduct an analysis that would have been generated by blocks 33 and 34. this [inaudible] calculation of $39.8 million is more than the 32.1 uc is proposing to pay, however there are other legal and policy considerations to ta

next the cfd payments, under the mou ucsf has agreed to pay the special taxes authorized by cfd no. 5, which funds the maintenance of parks and open space in mission bay south and cfd no. 6, which helps fund infrastructure costs in mission bay south. ucsf has also agreed it will develop the sites with uses that are consistent with the land uses in the south redevelopment plan. in addition, ucsf has agreed to substantially is comply with the development development with streetscape plans and any variance will require approval by this commission. ucsf has agreed to make design presentations to this commission and ocii. finally, u ucsf has made a commitment to pay prevailing wages for all construction work. now the 5th amendment to the south opa. in order to effectuate certain provisions of this mou, ocii and focil need to enter into this 5th amendment, consenting the transfer of blocks 33 and 34 by the current owner to ucsf subject to the requirements being met. ocii and focil will release the current owner pertaining to blocks 33 and 34 conditions upon receipt of the affordable housing

audit funding to a [speaker not understood] to identify the federal award information including the cfd number which is a unique identifying number for federal programs. and the communication had to happen at the time of the award by the time of the award, and during our audit we found that the information was communicated during the award but it was not communicated at the time of the award as required. >> communicated to whom specifically? >> to the recipient. to recipient, the grantees. >> thank you. >> so, we did identify that as the particular compliance finding and the department's corrective action plan is to include that information going forward at the time of the award to the [inaudible]. that is the only recurring finding that we have. we had three prior year findings as it related to your single audit. the first one was [speaker not understood] for two different hiv programs. the finding was that the advance number different identifying number for federal award was not obtained from [speaker not understood] or the grantee as required by the award and also the monitoring, the

but after they buy this the their cash numbers will go down and a lot of people are talking about the cfdng on a lot of cash and we should point out that a lot of people are looking to do the deal three senior people there are telling the fox business network no space sitting deal is imminent to read a spokeswoman declined to comment, but clearly terry duffy, the ceo, is talking to bankers and when you sit on that much cash you usually do something to read there was a lot of speculation they would try to get in this russell investment deal, but from what we understand the london stock exchange has been involved in exclusive talks with-- about this. liz: he has done it many gigantic deals, going back when no one was doing exchanges to read he knows how to do this, but he also doesn't want to get beaten. >> he also joined almost thought about joining and he was playing with the. there was some talks, joining nasdaq when it was thinking about hostile takeover of the new york stock exchange when the new york stock exchange was involved in the deutsche divorce deal, which didn't work out. liz: