this would be the second attempt to set up an ifd. first one was the rincon hill one set up a few years ago. we have to go forward with the process through the board of supervisors. we have to go forward on the ifd process. it is still being put together for this project. our term sheet was the best guess on what might result from the process based on rincon hill and state law. we will see how the process comes through the board and what percentages are available to the port to spend on park projects. >> that is my understanding. under the best of circumstances, the highest percentage that could possibly go back into the area of the project would be 65%. development has a higher percentage. that is all it could possibly be. my second question is in regards to the map. there were some questions brought up. the map we are looking at points out the zoning for 275 feet. that surrounds the park and includes the condominium. is this correct or incorrect? what is bill could be less in height? is that the situation? >> the golden gateway rede

testifying about an unlimited stay [ male ann ncer ] we asked real people ifd help us with an experiment for febreze fabric refresher; they agreed. [ experimenter 1 ] relax, take some nice deep breaths. [ experimenter 2 ] what do you smell? lilac. clean. there's something that's really fresh. there's something tha little bit beach-y. like children's blankets. smells like home. [ experimenter 1 ] okay. take your blindfolds off. ♪ hello? [ male announcer ] and now new and improved febreze fabric refresher with up to two times the odor elimination so you can breathe happy, guaranteed. >> we want to check on traffic weather as we do every 10 minutes. i like the purple ensemble you are wearing. >>." , plum, lavender. lavender. plum, let's take a look at our advisory. a long theally mason-dixon line. that is until 8:00 a.m. visibility is down. when and half miles in gaithersburg but only three tenths in martinsburg. visibility is going to be down of a mile or less through 8:00 a.m. town asoler north of well. 33 in martinsburg. 43 in the district. lexington park, 51 right now. 46 in frederick

dirst grou ain >> constitution prci daytoake chge >>ckam dictn fmmrrbisouinon atisesgese ipostasfthi ifd p vor tta asgud fir wh ato i tte atck ia motenfere gern up was tartewhe acknocotry two hungarians, an germans were kied. e government there hasg e strongly rejected those claims. further, t german nationals have been kidnapped. ethiopia's ertale is located in the desert,t inhospitable places on earth. armed rebels aacd grpf reign tourists in their camp, killinge d dolend four others. several more were wounded. blin, foreign minister guido westendolences to vti' families. he confirmed that some escaped harm. >> i can tell you that 12 people were ecuafy, including several german nationals. but i must also inform you that tw gitenlo their lives in the attackn >> eorgninistry has set up a crisis team to investigate the circumstances of the attack. german officials are turning investigatnsn hi >> i have sent mliso officer from kenya to the region. we will alsoelyg fial from germany -- from germany to the region to provideuprt to the german consulate. >> the survivors aiv bk thethiopian cap

when you request the ifd, is there some projection that you have to show of what you think the incremental tax will do to support the bond issue? >> that is correct. >> you have to show their real sufficient revenue coming in to repay? >> for each product area that will at -- for each project area, that will identify at minimum the tax increment expected and the bonding capacity therein, and the sources of the project. at any particular ratio required? >> particular ratio? >> for debt repayment. and i think it changes depending on the likely projections of the market. we have to put together a credible plan. >> in other words there is no minimal requirement is what i am asking? >> it depends on the debt vehicle that we use what to read it -- what the minimum requirements will be, and we're still exploring that. >> you intend to come back with an action item fairly soon, 2012? >> we will come back. this is just a notice. we will come back for the enabling master device, and likely product areas associated with projects that are currently heading towards approvals, but the america's cup that

the opportunities that the even authority has in terms of long-term development rights in terms of ifd proceeds that accrue, and this represents what they can access to repay themselves. so they are taking a significant amount of risk, and that this will both mean that they will limit their costs on the front end and do what is necessary and appropriate, and that they will right size that project, and that they will be specifically incentivized to create wonderful projects on the waterfront, which is what we are looking for. seawall lot 330 is also part of this. i guess i'm mainly covered this already. this is a graphic representation of how this process would work. specifically, one thing i want to emphasize -- this is in order of priority. the port has a good deal of certainty toon the cost -- to know based on the cost what will happen to access and what have you. i would like to specifically mention that the last one i described in detail, some sort of residual per dissipation, happens at the end of that after other remedies are exhausted. specifically, pierre -- pier 29 happens onl

we know that redevelopment is phasing out, and i suppose a model called the ifd is going to be used. i would like to know how moneys are going to come to treasure island to address whatever projects are going to happen over there? i also stated that i think that the san francisco county transportation authority has a lot to do within the projects were linked to the projects that it already has. i know this is a small amount of money compared to the millions that san francisco county transportation authority doles out, some $100,000, but i would like to know why some other independent entity could not do it. why does it have to be the san francisco county transportation authority? thank you very much. supervisor mirkarimi: thank you, sir. any other public comment? seeing none, public comment is closed. i believe we have same house. take this without objection. >> item 7, increase the amount of the legal services contract with nossaman llp by $330,000 to a total amount not to exceed $960,000 to provide general legal counsel services and authorize the executive director to modify contra

me make a few comments about the mayor's office of economic development, trying to bring models like ifd's and tax increments, trying to figure out how land by the tracks can be zeroed in it to make money. we need to be very leary of goldman sacks -- goldman sachs, j.p. morgan chase, and in the private side of the enterprise that we deem and we think may help us when they had felt as in recent history. thank you very much. supervisor campos: thank you. next speaker, please. >> good afternoon, a commission. joe boss. about a year-and-a-half ago, i helped put together what we called the stakeholder, and it consisted of people in mission bay, people who own property in a showplace square, potrero hill, and so forth. it also included ucsf, the redevelopment agency commissioned a development, and we had a couple of very good meetings. the whole focus was -- we also had neighborhood stakeholders, people who live there in that area. john ram put together a very good team with josh riskey and greg. and our whole purpose was to say that the raley joint -- real authority in the joint -- and this, th

america's cup event is more than the up to $1 million in shares that we would captured through the ifd. the reports that the comptroller's office did, their economic show the america's cup event would far exceed its $8.9 million. i feel that we can meet that test. it is a very good source. for the future revenue opportunities, we have been working on our business plan for the cruise terminal, and how much we can expect to earn from special events. this site is a special event then you. without impacting our cruz operation, i think $5 million annually worth of debt is a very conservative estimate. that would mean basically five other thousand dollars more in annual net revenue from this facility -- $500,000 more in annual net revenue from this facility. i think that is a good source. new funding sources, we have not made much headway on that, in terms of additional grants. reallocating funds from other capital projects, that is how we close the phase one gap. our capital repair and replace the budget is so oversubscribed, it is something we can do, but it has a cost to the port in terms