facility before the hoj becomes non-operable at some point in the future. the 640 bed came from, it was arranged from the controller's forecast of 2013 and they have predicted needing between 481 and 688 new beds and the sheriff came up with 640 as a prudent number to work with now. and having that number in the environmental application, it's better for us to submit with a higher number and then if the forecasters come with lower numbers it's easier for us to move down as oh poed to ramp back up. that's why we are going with the 640 now. the new forecast update will be available late spring. this is the site. we're looking at two sites for the environmental application and that is site a and site b site a is the block directly opposite the hall of justice and option b is the west wing of the hall of justice. so the new facility is going to move from the currently designed to the podular design, moving from the traditional linear design to the podular design. i just mentioned some of the benefits of moving from that traditional lineal design to the podular

direct and indirect financial benefits to the cd to brief the benefits of the new facility before the hoj becomes non-operable, we don't want to ramp up costs, there would be associated costs with temporary jails if, in the event of an earthquake, the hoy becomes non-operable we would have to find temporary space for the current inmates and also the cost of expedited construction and the savings from inflation construction inflation if we do construct a facility before the hoj becomes non-operable and the capital plan also states that there will be about 2800 new jobs as a result of construction to the city in san francisco. so the estimated capital project budget is about $290 million. that's what is estimated right now for the 640 beds. and the available financing, according to the office of public finance, is through the issuance of certificate of participation and it would be paid back over a period of about 23 years. the debt load would be $629,610,000 with an annual debt service payment of $29,634,000 and they do note it will not exceed the city's 3.25 limit. the operating and maint