i'm leo director of finance and administration. i'm pleased to bring before you today this proposal which is to sell up to $70 million of bonds for the mission bay south project area to reimburse infrastructure cost. the developer has already spent over this amount and is waiting to be reimbursed based on the agreement. what we've attached with this resolution is the proposed form of bond indenture and bond purchase contract. the bond intent -- indenture would be a contract which we can demonstrate that the bonds coming in would be handled and maintained and the terms under which the bonds are called. the bond purchase contract is a three way contract between the redevelopment financing authority, the success or agency and the underwriteers for the purchasing of these bonds. the bond authority has been by the same redevelopment agency and the redevelopment financing authority and with the automatic succession of these bonds, the ocii commission would be able to reconstitute the refinancing of this authority. the reason why the fina

i used to work in public finance. i'm not going ask. do you all understand the whole financing authority structure? okay. great. do i have a motion for they resolution 52-2013. >> i move. >> is there a second. >> please call the roll. >> [roll call vote taken] >> ellington, mondejar, the vote is 4 ayes. one absent. thank you very much. call the next item. item 5 b: update on the status of hunters point shipyard local contracting and construction work force hiring hunters point shipyard project area. you'll >> commissioners, this is a continuation of an item that was on the previous calendar and you asked it to the cal endar on item. those are subject to our development agreements and our equal opportunity policies that are components of those phase one and phase two development agreements. the purpose here is for the staff and for the developer and it's consultants to really report on the progress, talk about the lessons learned so that we can continue to either meet or exceed the goals. i would like to ask the project manager for hunte

i'm president of the museum of american finance, the only finance museum in the nation. our core mission is to teaching financial history and we're a smithsonian affiliate. welcome back, friends of the museum and our friends from c-span who are taping today. today we have sheri caplan, author of petticoats and pinstripes. portraits of women in wall street history. while this is her first book, she is no stranger to writing. she contributes to forbes, to bloomberg law, as well as other media outlets. during her research, she used some of the resources here including a finding in our collection for the image on the cover. she was a vice president and assistant general counselled a goldman sachs, also on the securities arbitration roster of finra, financial industry regulatory authority. her undergraduate work was at yale, her jd at the university of virginia. and if you go to sheri caplan.com, you'll see that inspiration for her writing often comes from a nice cup of tea that is by her side or a piece of chocolate. so to provide inspiration today, we present her from the n

the catalyst is green finance sf. we receive seen in other parts of the state in california that have adopted residential pace programs, in sonoma and riverside county and is have seen the positive impacts that have followed further residents in their local economy. the stores of individuals that have chosen to participate in the respective pace programs and the successes they have experienced. these can save on monthly utility.bill tos the tune of tosses of dollars, from the beginning of this process, we wanted to make sure this finance tool had a strong workforce component tied to it. we convened meters with our partners and labor to start discussions with how that work component would look like. it's a key to not getting them job today and keeping them employed but to help them find meaningful careers and new economy ins the green collar economy that continues to grow. we want our local workers to have the skills necessary to take part in that e -- emerging industry. we want to ensure local residents are working on

and i couldn't get financing anywhere. i was beginning to feel like that all my hopes of getting my very firs brand new car were going right out the window and there was nothing i could do about it. well finally my older brother came to me with some advice and he recommended i try contacting drive for 99. so without any other real options, that's what i did. d i kid you not, for just 99 dollars, drive for 99 had me driving off that lot with the car of my dreams and was my very first brand new car. drive for 99 really changed my life. i knew that getting sick was gog to do a number on my bank account, but i had no idea what the medical bills were going to do to my credit. i still needed a car. i called during the drive for 99 event and now i get a brand new car for 99 dollars a month. thanks for getting me back on the road. you won't have to settle the car other dealers say you have to dre or is all that you can afford or qualify for. during "drive for 99" you'll drive your dream r, truck or suv for just 99 dollars down or

but she was hardly the first to make her mark in american finance. two other names that most frequently surface are those of victoria woodhall and heddy green. woodall and her sister had made the acquaintance of vanderbilt. the sisters were looking to get rich. and woodhall wanted to fund her political aspirations. they wanted to get rich and opened the first female owned brokerage in 1870. the firm lasted only a few years, and they were largely dismissed as a joke. to be sure, they were more keen on courting publicity than on analyzing earnings. but they were certainly savvy marketers and they courted publicity so well that one can liken them to many of their modern day cohorts in the brokerage industry. heddy green is usually dismissed as a miserly eccentric and dubbed the witch of wall street and her fashion choice do nothing to help her shed that image. she was wealthy and vastly increased her fort tune through shrewd investments. her unfortunate nickname overlooks her keen financial mind and her participation in key events of the times. from a b

ultimately in the end green finance st. is the solution we've been searching for it creates local jobs. green finance sf will if you thought cement >> is a a natural leader to errors the effects of cloiment changes and make it easier for homeownership to refinance. we have more work to do in rolling out this program i hope you'll join me and those behind me in rolling out this program. i want to thank you for being here. i want to turn it over to mayor ed lee. >> (clapping.) >> thank you supervisor farrell. it's great to see homeownership's and our labor force and city agencies thank you for coming together. we all support our assignment. this program as supervisor farrell pass very adequately explains you you know we started pace with or my proximate in 2010. it's a pretty big announcement we you will including exclude that was tremendous barriers for folks taking initiative on their own to create the energy all the times you have water xhefrm and making that something personally they wanted to contributed to the climate c

. >> in addition the developer, there are certain issues to have affordable units, the financing comes easier to group them together. but the moderate income or work force housing units are still inclusionary throughout the project. >> and sales for rent? >> yes. >> i wanted to make that clarification and make sure i was understanding what was in front of us. thank you. >> okay. so thank you everyone. we're not done yet if anyone has questions raise your hand but i have a few to go through. so i'll start with the resolution itself and that first item on having any potential sort of issues of quality of life or discomfort by the residential design team. the way we're operating is once it's completed it will be transferred to moh. who are the resident supposed to go to if they are -- they have building management, i guess, but who is the building management supposed to go to get an amended design through. is that moh planning department. how will that work this work? >> they'll go to the building management and building management will go to the office of commission infra stuk structure

trapeze the president helped bring about a number of towns full of accomplishments in the area of finance korea and france signed for in the years to finance korean and french companies carrying out joint projects in europe markets such as africa the middle east. the all strictly to simplify the process of these engagements in order to strengthen the cooperation network between businesses whitbread ten korean nine eleven finance related and the u's point three billion dollars. all of dublin bilateral trade and investment by the year twenty twenty. indulge and five leading european companies announced plans to invest a total of three hundred seventy million dollars in cumbria. and to do we fear that a number of culture events were held in my ever

this is a way to use that economisting green finance program to be able to issue a public financing to these buildings which is paid back over property taxes over 20 years. it's another option we have for property ordinary owners trying to comply with the ordinance. >> i want to say as one of those bankers that got involved with the program i think it's great. i do know last week, wednesday, the san francisco association of realtors down at fort mason talking about this so your outreach was great because the turnout there with all the building owners and all the stakeholders was tremendous so i just want to congratulate you on your outreach in this program and working with all the other banks 'cause all the banks were there, everybody was represented and it was a very good event so i want to say i really appreciate your outreach on this program. it is for important. for better or worse we live in a n seismic active city. i want to thank you for all your efforts over this /pa*sz past year. >> thank you commissioner. >> i believe you all have a postcard in front of you. obviously it's a

do you want to speak first on the item. >> good morning i budget and finance committee. the item before you is a resolution to authorize the sale and issuance of city and county of san francisco general obligation bonds and amount not to exceed $209,955,000 and the supplemental proceeds the same proceeds to finance the cost of the general hospital project. i will give a introduction to the financing and talk about the bonds and there are representatives from sfgh and dpw available to answer project specific questions. so in 2008 the voters approved proposition a and not to exceed the amount of the general hospital rebuild and of that amount some funds have been issued and leaving $209,955,000 unauthorized and unissued. this is the fourth sale of bonds of proposition a for the hospital rebuild and contribute 207 million to project costs and additional $1.9 million for cost related to the issuance of this discount and citizens general obligation bonds oversight committee. sebt service on the bonds if approved is approximately $18 million a year over the 20 year life and $1

. >> susan walker, professor of real state and finances at the wharton school in philadelphia.hank you, susan. >>> milestones for the u.s. stock market, and we're not talking about just the dow which of course did inch up a record close today. the nasdaq closed above o 4,000 for the first time since september of 2000. the tech-heavy stock index is up 30% much more than the s&p 500 thanks to names like netflix, tesla, with a into, the fast and furious rise is fueling speculation that it could take out it's all-time high of 5,048 which was set in march of 2000. do you remember that? that was the prelude to the infamous.com bubble. the federal aviation administration is issuing a warning to boeing 737 and 747. to stay clear from storms. the general electric engines used in some of these planes are at risk of ice build up in stormy weather which could cause the planes to lose power--ouch. airlines will be told to stay 15 nautical miles away from high altitude storms. that will apply to 14 u.s. planes. >>> do you remember the home equity loans taken before the bubble? it could spell

approve it, it will go to department of finances. hopefully it will be sooner to offer their concurrence with this bond sale. and we are also waiting for the approval authority on the rocks to expend any proceeds then we can finalize it and get it to market. we are going total board of supervisors to increase the authority up to $70 million. with that i would like to point out the finance team members that we have in the audiences. bond council we have steve mall khan, joe watson, bob gamble and from the underwriteers jay chasmsky and della rosa. and that, i or the team would be happy to answer any questions. >> do you have [inaudible] laughed >> thank you so much. before we move on to commentary from commissioners, is there any public comment on this item? i have no sticker cards. do we have any public comment on this item 5a? okay. >> good afternoon, doctors jackson. i'm sorry i was late coming in. i'm not here today to be disagreement to anything that you are to do. i'm here to ask that you and the audience and those that are list

i'm president of the museum of american finance, the only finance museum in the nation. our core mission is to teaching about our nation's finance and financial history and we're a smithsonian affiliate. welcome back, friends of the museum and our friends from c-span who are taping today. today we have sheri caplan, author of petticoats and pinstripes. portraits of women in wall street history. while this is her first book, she is no stranger to writing. you can find her a contributor to forbes and bloomberg law and other media outlets. during her research, she used some of the resources here including a finding in our collection for the image on the cover. she has a wall street background. she was a vice president and assistant general counsel at gold man sacks and also on securities arbitration roster of finra, financial industry regulatory authority. her undergraduate work was at yale, her jd at the university of virginia.

and finance minister aso's earlier comments about currency intervention.na rebounded from the losses we saw earlier this week as the plenum disappoints. beijing may release more detailed reform plans over the next weeks. so stocks related to land reform, national security and the free trade zone led the gains. financials made a strong rebound. south korea's kospi ended higher by about 2% in australia's asx 200 added nearly 1%. moving on to some individual movers in japan, mitsubishi ufj and mizuho financial both raised full year guidance as shares got a nice boost. pang an insurance one almost 4%. meanwhile, china, taiping reported that premium income for life insurance jumped 54% from a year earlier. and other insurers gained about -- over 3% in today's trade. so that's a look at the asian markets. back to you, ross. >> thanks for that, sixuan. have a great weekend. meanwhile, what's on the agenda in the united states today? we have october import prices out at 8:30 eastern. at 9:15, we'll get october industrial production. and at 10:00, it's september bu

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we have provided financing before. it is a lot of money. so come and talk to the office of small business and make sure you have professionals and task inspectors and contractors lined up so that we can be part of that conversation in terms of helping you maintain your business and helping to stay in business despite the fact that a lot of businesses are being regulated by now. if you have questions, my information is in the packet. we are more than happy to field any questions, but again, because there are different parts of this whole saga, we are all in different parts in terms of financing, but the loan program will be available. it will be available until the ada compliance issues are no longer there. >> thank you. any questions? [inaudible] we do have legal expertise and individuals with our mayor's office of disability. if you do have any questions at all about things that you might have heard about or issues you are facing, it might be the opportunity to ask questions. any questions? >> thanks, supervisor. sorry for being late. i he

there is a slight concern that it may take over the financing system could kind of. give the fact that there is an issue with the interest when it comes to some of finance interest is strictly prohibited there all certain people say oh we don't want these islamic bonds we don't want foreign take this if it comes to things like football clubs or howard's whatever it might be what would your response to that to see that . well i think that. is not placed correctly i think a lot of people need to do the same sort of slow refinements want to act. i mean that's not something may sound a little scary given the fact that it's quite new and and i've heard over the western world but really it's going to induce far more invested in the we really seen that with the likes of the shah building in london bridge and also with the like you said it's also at the same time the olympic athletes village and during the two thousand and twelve olympics it's going to create more jobs in the u.k. which is very keen when it comes to policy and economic health care going forward we know that

sba.gov, and look for the local page to see the local san francisco financing sources. but before you do that, the takeaway message here is that before you go to a bank, make sure you are cleared to do that. you do not want to go to a bank looking for financing for your business and ask them a question that will immediately give them a sense that you are not ready. you go to a bank and say, "how much can i borrow?" they will tell you, "i do not know, but probably not from us." you need to know exactly what you're looking for, how you are going to use the money, and how you will be paid the bank. part of the process is make sure you are prepared. the first thing you need to do is take a advantage of the resources that can help you develop your business plan and really be prepared to go to a lender. being able to answer the questions you know that they will be asking is part of what we do as well. i'm sure we will have lots of time for questions, but i will send it back to you. >> director of the office of small business with the city and county of san francisco. again, i

public finances in the uk, by the way, getting better.ht they were going to be, but it does look like for the year the government in the uk is going to borrow less and the office of budget responsibility was originally forecasting. growth has come in better than we thought it would be. the xetra dax is down 0.5%. the cac 40 down 0.6%. divergence in these two economies for november. what we've seen is the composite number in france down into negative territory, 48.5, and in germany, stronger than expected of 53.2. but bear in mind france contracted, not by much, but these activity numbers suggest we might get contraction in the fourth. if that's the case, france could be back in recession. ftse mib up 0.1% at the moment. on the bond markets, keep our eyes on treasury yields, we saw them back up during the session yesterday. lower than where we were, but just below 2.8% on the yield. 2.78% at the moment. gilt yields, similar amounts across the board here in europe. on the currency market, the dollar got a bit of a boost from the fed minutes

this was submitted to the department of finance in rocks 3. significantly the state requested a review of that particular item along with several others and the agency described in detail the nature of the 2113 obligation and how this parcel project fit within the fulfillment of that obligation. after that, a submission by the successor agency, they approved that item. currently today we have a rock that would seek funding for 2113 for 80 units in the south of market. notablely the state has asked for review of that item and we are going to submit an analysis very similar to the with parcel and how that's apart of our obligations. so we had fulfilled the requirements for the final conclusive just to recap. the actions of the agency of hcd and certifying the funding and that it constituted property tax given the size of the obligation which we think is going to be $1.5 million and the revenues will be advocated over time. finally we have submitted several rops which this replacement obligation has an approved by the oversight board and the depa

so perhaps just i think that the program that the mayor's office of housing is financing and they will not actually do the work for you. >> but they will not do the roof. there are things on the violations that i have to connect before i can do the program. the interior. >> and i am elible. >> forgive me and so it does not preinclude you from applying and so you should apply. and then you can negotiate with them, what you can or cannot fit into the scope of work with the financing but you know in terms of what rose mary said is what we need from you is a time line, like doable and understandable. and so, getting the financing for the stuff that you know that you already need does not preinclude you from then getting other resources elsewhere, but i would suggest that that should be the first thing that you do. and as apply for it and make sure that you, will, you know, get it and i think that you are eligible, and so you know, maybe you can help out with that. >> absolutely. >> and maybe, this is a mistake in understanding, but my understanding based on the discussions with marv let me