Did some modeling at the dais to show you what would happens if we pass my amendment: we’d generate free cash flow from the current encumbrances of Moda fees net of debt service on a $120MM bond issuance. No PCEF $, no general fund obligation and reduced public contribution by 2/3rds
We’re hearing testimony on the Moda term sheet today. I have filed an amendment that seeks to do two broad things: 1. empower the Joint Authority to limit expenditure public funds in the public interest with transparency and accountability 2. Reduce City’s commitment from $400M -> $120MM