the panel overwhelmly scored pfm as the strong firm. highlighted pf m qualified staff including budget director under mayor feinstein and identified work samples as being strong and came in with 30% lbe subcontracting goal and used minority owned firm to meet the subcontracting goal. on january 22nd, we issued a notice of intent to award the contract. the alleged contractor with the local office here in san francisco. they have substantial seaport experience and worked with the ports of los angeles, tacoma and portland. as i mentioned committed to a 30% lbe utilization goal. they currently serve as the control of financial advisor, work with san francisco airport, mta and puc and work with the port since 2009. >> thank you, eileen, deputy director. we are retaining financial advisor primarily we've used heavily for bond sales. while we don't anticipate selling revenue bonds in the near term we want to always have them in our hands in case we change our mind. the port does have bonding capacity at the moment and has since i have arrived

pfm also had the lowest price proposal. at this time i would like to introduce bottom gamma in manager of pfm who will be our primary point of contact for these transactions. pfm will perform all advisories to customs and bond sale and will be compensated from bond proceeds contingent on the successful conclusion of the transactions. >> brief summary of the next steps. an rfp for bond and disclosure has been issued and the panel will be bringing you recommendations at the next meeting for the role once again a bond council and self disclosure council two separate contracts. at the beginning with the approval of a contract, the fa will participate with the oci; and the city controller of public of finances for the services of these bonds. a fiscal consultant will also be selected who will be bringing you all of these contracts in the upcoming weeks and months. we'll be back also with the basic bond documents and approval to proceed then we'll see approval of the oversight board and the department of finance and the final doc