there is an incremental in lieu fee that would be exacted, 8%. the equivalent of that is approximately $5 million. again, based on the approvals before you today. so, in total a 28% in lieu fee requirement. the preservation of the aronson building, the contribution for the cultural facilities, and the maintenance of the cultural facilities, the gardens, the child care center and other related improvements, those contributions add up on an annualized basis to approximately $500,000. i think it's important to note, given redevelopment developing valuable public dollars not available, city dollars not available, that this particular residential project unlike any other residential project in the district will be in the yerba buena district, will be contributing those funds. again, approximately $500,000. excuse me. when the board authorized the issuance of bonds a number of years ago to create the jessie square garage, the substructure for the contemporary jewish museum, as well as the structure, the foundation itself literally for the mexican museu

but was there a -- was there a thinking how that tax increment would have been spent otherwise? >> i think it was really subject to annual appropriation by the board of supervisors through the normal process. certainly there's the baseline now mandated by prop e for contributions to muni, the usual set asides for every thawctiontiontax dollar there is certain mandated set aside for schools, libraries, et cetera, muni. but it really is as you describe, supervisor, every year to determine what is most important each year. >> and, so, this $9.3 million for the garage bond redemption and paying back the tax increment is just going back into our general fund? >> yes, that is absolutely correct. >> and then the 28% affordable housing fee, and i should know this, but is this generally what all the residential projects paid into in the yerba buena redevelopment area plan? is that how that -- >> no, not at all. >> [speaker not understood]. >> it really was varied. some residential projects t paid whatever the base equivalent minimum was in the city. depending on whatever the legislation

now in behind sight we need to have the incremental improvements to bring in incremental improvements and at the same time deliver our projects better. there's a very rich process in san francisco. and working with that rich process has had it's challenges. the more it is up consonant o front we'll get a better picture. but i want to stress we're working very closely with the transportation authority to make the best way forward. we believe we have a process to improve the project gary. i'm happy to go more into detail after the presentation >> chairman. how - and i know that the mta wants to improve the project timelines. it's not just a challenge with the larger projects but the smaller ones. it's sometimes very brain damaging to move projects forward >> yeah. >> and that's for small not hard ones that have a lot of community support without a lot of controversy. so in terms of confident levels that once the mta finishes the analysis this is a realistic timeline. given the time it will take another 5 years to deliver the project is too long but but why should we be confident. and in

these have to be an hour or less increment. can you take it for three hours. >> >> but not the weekend. vehicles must be available at least 75% of the time. this is in response to the fact that we are facilitating or inviting peer to peer operators to operate and there is an understandable apprehension that -- again let me explain the peer to peer notion. i own a car. i drive it a little bit. why not let people drive it when i am not using it? it's a great idea. maybe 10, 12, 20 families can use my car. many might get rid of their car but we're sensitive to the notion these spaces are valuable and important asset for the city and this agency is a custodian of that trust and we don't want someone to rent their private space and share their car a little bit. we want to make sure if they're participating as a car share vehicle their car is truly shared so we put that floor remains to be seen and why we're doing the pilot whether 75% is the right number. we will watch that very closely. all participating car share organizations hav

the essence of strict scales is that you buy the same increments every time c.a.t.atever size decline makes sense. you purchase the same amount of stock using strict scales. i regard it as smart and responsible. sometimes it can hurt you. that's why i often like to use wider scales, particularly a volatile cyclical stock like caterpillar. the trick with wide scales, you buy larger and larger positions as the stock goes lower. the first example, 90, that was a strict scale, this one was a strict scale, let's talk about a wider scale. i used to think of them as a pyramid. if a stock lost a point, i would put on 1,000 shares, another point, 1,500 shares and it's so low you can hardly read how poor the stock and then you double down. the lower the stock goes, the larger your buy should become. both work. you've got to get comfortable. the great thing about wide scales, they leave you with room to maneuver. you're going to want to pour your money in. it allows you to buy the greatest number of shares a the the lowest price. you can build a wide pyramid. when you like a c

to release this obligation, the developer will take that on and also pay $9.3 million back in tax increment in general fund and money we had previously allocated. i'm very excited and this is a very legitimate concern with the steven son street upgrade. i think it's a very legitimate concern. it's very dangerous to drive out of that alleyway when you are coming out of the parking garage or third street. there is a lot of visual clutter when you are coming out to see oncoming traffic. we also want to make sure that there is really good flow on that alleyway. so the developer has committed to $5 million on improving that alleyway and hopefully we can work on a crosswalk as well. the developer has agreed to build a new crosswalk dependent on the pedestrian study that it is funding today. i'm excited to see the outcome of the that pedestrian study. 3rd street is the worst corridor. for those of you who know that area, know how intimidating that is. there is a lot of work we need to do this. on something that i have often heard from e-mails and constituents, this is more traffic enforcement offi

as to incrementally let's do that wch is needed first.citizenship, benchmarks and statistics that will warrant the kind of changes. lou: their will be hearings, stack findings and -- fact-finding. we will be very american. lou: -- >> this is not a guy when it comes to many issues is someone who stands firm in gets up there and makes a statement that will let everyone know, this is what we are going to do. i'm not surprised. i think it will be other people that will be the lears on this maer. lou: there are some very strong -- is some very strong leleadership now at theop of the being an onstage performer. the author, mt of hard-core bond. ♪ the pursuit of a better tomorrow something we all share. but who can help you find your own path? who can build you a plan, not just a pie chart? who can help keep your investments on course, atever lies ahead? that someone is a morg stanley financial advisor. and we're ready to work for you. ♪ of true tv hit reality show "hdcore pawn." you have to love the title, if nothing else. in its seventh season

the tax rate is scheduled to be raised in two increments from the current 5% to 8% in april 2014 and again to 10% in october 2015. yale university president said he understands that japan's fiscal health is in an extremely serious condition. he said it will be possible for the government to increase the consumption tax rate to 8% if growth continues until around october. his remarks indicate that a 3 percentage point increase in the consumption tax would be acceptable as long as the government keeps an eye on any impact it has on the economy and employment. but he's more cautious about the second increase. >> imposing higher taxes, would shrink the economic pie. when the consumption tax is raised as planned it would have a considerable impact on japan's economy. >> he also smoke about business majors and a consumption tax increase. he suggested that the other government should try to prop up the economy by lowering the effective tax rate of corporate income tax rather than relying on public spending backed by a supplementary budget. the japanese officials are about to join the trans

the definition too narrow you really risk locking in the existing service and not able to make incremental changes but at the same time you want to make sure you're capturing important equity issues. we did make several changes to this definition based on the public process. one of the key things was that we added this rolling 24 month period to the system changes. what the concern was in the public process was that we would make a 2% change one year and then a 1% change six months later and a 3% change six months after that, and that we would be stringing together these smaller changes and not ever reach this larger threshold. that certainly would never be the intent of me or my staff but we felt it was important in the policy to call out that concern, so what this would mean is if we were considering a 3% change and a 2% change already put in place within the last 24 months we would evaluate the full 5% proposal and not just the 3% proposal. we also had originally had the span of service before hours, and one of the things we heard in the public process was four hours seemed too high so

as to incrementally, let's do that which is needed first.tizenship, benchmarks and statistics that will warrant the kind of changes. lou: their will be hearings, stack findings and -- fact-finding. we will be very american. lou: -- >> this is not a guy when it comes to many issues is someone who stands firm in gets up there and makes a statement that will let everyone know, this is what we are going to do. i'm not surprised. i think it will be other people that will be the leaders on this matter. lou: there are some very strong -- is some very strong leadership now at the top of the being an onstage performer. the author, most of hard-core bond. ♪ my mantra? trust your instincts to make the call. to treat my low testosterone, my doctor and i went with axiron, the only underarm low t treatment. axiron can restore t levels to normal about 2 weeks in most m. axiron is not for use in women or anyone younger than 18 or men with prostate or breast cancer. women, especially those who are or who may become pregnant and children should avoid contact

so, on the one hand i do think it's important that we find ways to address the incremental shadows that over time are alerting the quality of our city parks. but on the other hand i'm going to say this to the folks, the proponents of the potential ballot measure, i don't think that the ballot measure that is being circulated to halt this project is impossible. i think it's very problematic. i think the ballot measure could seriously restrict appropriate development in the city as generated a lot of concern from a lot of different corridors. and while i understand the frustration that folks feel about the erosion of some park, i don't think that a ballot box war is productive at this moment. i also don't think years of litigation are particularly productive. so, it is my hope, it is my hope that we can avoid this in the coming days with a more reasonable compromise. i do understand there is a proposed settlement letter. i do hope that no progress can be made. i want to build a mexican museum. i've told supporters of the museum i'm concerned that the supporters are going to have to spend

then you buy it back in the same increments. let's keep using increments of 25 to buy it back. if google comes back to 1,000 -- say from 1100, you buy 25 shares, then another 25 down 5%. that's if you sold 50, so on. you can take your winnings this way, help buy 25 more if it keeps going lower. you have to sell 25 before the swoon. i know it's small potatoes, 25 here and there. but no, this is all about adding up gains. up 5%, sell 25, down where you started, repeat the process on the way up. over time your profits do add up. that's what trading about the core position is all about. a lot of people think trading is exciting it can be. but if you're trading around the core position it's not exciting. quite boring, very methodical. all you're doing is watching the stock move and trimming and adding. the image of trading is reckless and irresponsible, trading around the core position is the height of prudent portfolio adjustment. particularly if it went up very big. that's why you have to trim some. then you'll be ready when it comes back down. you can scale in or out of positions

side-by-side and incremental extraordinarily careful side. >> that is why i find this to be inspiring. i've pointing out a large mistakes in the colossal mistakes that the scientific greats in history made and i think it inspires us to take some risks with scientific methods and there are a lot of implications for today. in your own field, do you see -- i've seen this in my field of medicine, do you see a theory getting a lot of attention and momentum and not sufficient questioning, and do you see great people and great theories where there is a giant wonder that might be underrecognized? >> you may know that we have it. and this is supposed to be a theory of everything, which is a theory that is supposed to be unifying all the forces of nature. explain all of the particles that we see in all.and so on. it is the best candidate that we have at the moment. it is all of the forces of nature it could turn out the theory is in the wrong direction and it definitely could turn out. the greatest minds exist in this very. i think that they should continue to work. could turn out to be somethi

and that's in the pay back of the tax increment that we've already spent in the bond redemption. but on top of that, the developer is also paying approximately 25 million for the outstanding debt under the garage bond and will be paying the successor agency roughly $18 million for the reimbursement agreement, the cooperation and tax reimbursement agreement. so, there is actual dollars coming to our general fund with this agreement as well on top of that. i did just want to say i agree with supervisor wiener that i think overall as a city, that we have undercut our transit system by not applying tidf to market rate residential development and that goes for market rate residential development inside redevelopment and also outside redevelopment area plan. but i think what is occurring under redevelopment mimicking what we were doing outside and generally throughout our city, if there wasn't a kind of [speaker not understood] made for redevelopment residential buildings, that they didn't have to pay into our transit impact fee. but i completely agree that was a short-sighted call. [s

in very small increments. edge up to this decision and i suspect many of them will pause when they hit the obama care regulation. >> and that regulation really is just around the corner. there's no insurance exchanges opened in october. the individual mandate goes into effect on january 1st. ainsley? >> douglas, thank you. >>> take a look at this. caught on camera. the moment thieves with sledgehammers smashed their way into a jewelry store in broad daylight. the store was packed with customers at the time, including families with irn which. the robbers were able to snatch several bracelets and necklaces from the window. the thieves got away. >>> a frightening encounter for two divers. >> [ bleep ]. [ bleep ]. >> could you imagine? this close encounter happening two miles off morro bay in california. they were feeding quite a distance away but soon found themselves in a swarm of sardines and closed to being swallowed by the whales. humpbacks weigh up to 40 tons. >> goodness, that is scary. >>> nine months afte

the house is already decided that it will be taking an incremental approach, and i think that there ise are going to see the kind of comprehensive immigration reform that washington has spent so many months talking about. i now think we will see it in the next couple of yrs. lou: i hope you are wrong. we have about 25econds. rescuing a family. he sees this as the happening. obviously there were the ones. parents and two children. the willis report is next. >> could evening. i am rory rothman. tonight what was the big lesson investors learned after the fed took down its steve cohen oneeof the biggest man on wall street? the only way to make money in the market is tucci? also billions of doolars disappearing every year and nely all of us are snagged with the unnecessary charges how do you deal wth embarrassing many questions with close family members? we have some answers and more coming up to knight of "the willis report."

from the small incremental step to the long march in getting it done, those are all the elements thatave to deal with. and there are some pauses, sometimes things plateau. i know some utilities feel we have enough for 33 and a third percent which is our state goal. we have to find other states. we've got to get