Proposed 2021 Bond Issuance: Refunding and New Debt
←
→
Page content transcription
If your browser does not render page correctly, please read the page content below
Proposed 2021 Bond Issuance: Refunding and New Debt Overview of Proposed Transaction Board of Directors Item 12A | February 12, 2021 1 2021 Bond Financing Team San Diego Association of Governments Hasan Ikhrata, Executive Director Andre Douzdjian, Chief Financial Officer Jose Nuncio, TransNet Department Director John Kirk, General Counsel Ray Major, Chief Economist Dawn Vettese, Strategic Capital Funding & ITOC Manager Financial Advisors, Public Financial Management Peter Shellenberger, Managing Director Bond Counsel, Orrick, Herrington & Sutcliffe, LLP Devin Brennan, Partner Disclosure Counsel, Norton Rose Fulbright US, LLP Victor Hsu, Partner Russ Trice, Partner Co-Senior Underwriter, Wells Fargo Julie Burger, Managing Director Co-Senior Underwriter, Bank of America Bryon Rockwell, Managing Director 2 2 1
2021 Bond Issuance Presentation 1. Why we need to issue these bonds - Refunding - New Money 2. Potential size and structure 3. Credit rating 4. Bond Documents 5. Calendar of events 3 3 Why We Are Issuing These Bonds 4 4 2
Summary of Upcoming 2021 Transactions 1. Renegotiate a new TIFIA loan for the Mid-Coast Trolley project Lower TIFIA interest rate from 2.72% to approximately 1.75% 2. Taxable advance refunding of Series 2014A Bonds for debt service savings 3. Issue approximately $85 million in tax-exempt new money bonds on the subordinate lien for new projects 4. Roll the existing subordinate lien, tax-exempt short-term notes (the “TIFIA BANs”) from April 1, 2021 to October 1, 2022 Take advantage of low short-term rates compared to the long-term TIFIA rate 5 5 Credit Rating Agency Reviews Current high credit ratings on SANDAG debt program Current ratings – Senior Lien: Standard & Poor’s: AAA Fitch: AAA Moody’s: Aa2 Current ratings – Subordinate Lien: Standard & Poor’s: AA Fitch: AA 6 6 3
Potential Size and Structure 2021 Series A Bonds (Refunding): Par Amount: ~$150 million Savings: ~$20 million Tax Status: Taxable Lien: Senior Tender Option: Yes 2021 Series B Bonds (New Money): Par Amount: ~$85 million Project Fund: ~$113 million Lien: Subordinate Tax Status: Tax-Exempt Preliminary, Subject to Change 7 7 2021 Bond Documents – Attachments to Report 1. PFM Memo 2. Resolution 3. Draft Eleventh Supplemental to Senior Indenture 4. Draft Third Supplement to Subordinate Indenture 5. Draft Bond Purchase Agreement 6. Draft Preliminary Official Statement 7. Draft Continuing Disclosure Agreement 8. Draft Invitation to Tender Bonds 8 8 4
Financial Advisor Memo (Attachment 1) Market Update 2021 New Money and Bond Refunding Structure Tender Offer Financial Considerations 9 9 Resolution (Attachment 2) The Resolution authorizes issuance of the 2021 New Money and Refunding Bonds and approves the following documents Official Statement Eleventh Supplemental to Senior Indenture Third Supplement to Subordinate Indenture Bond Purchase Agreements Continuing Disclosure Agreement The Resolution also approves other actions and matters relating to the 2021 Bonds, including the tender offer for 2014 bonds 10 10 10 5
Eleventh Supplemental to Senior Indenture (Attachment 3) Supplements the Master Indenture relating to SANDAG’s senior revenue bonds Sets forth repayment and redemption provisions with respect to the 2021 refunding bonds Directs proceeds for deposit into an escrow account 11 11 Third Supplemental to Subordinate Indenture (Attachment 4) Supplements the Subordinate Indenture relating to SANDAG’s subordinate revenue bonds Sets forth repayment and redemption provisions with respect to the 2021 new issue bonds Directs proceeds for deposit into a new money proceeds account and allows for the purchase of tendered bonds, if any 12 12 6
Bond Purchase Agreements (Attachment 5) Agreements by underwriters to purchase 2021 refunding bonds from SANDAG (one for taxable bonds and the other for tax-exempt bonds) Sets forth certain representations of SANDAG Identifies documents, opinions, and other requirements necessary to close the financing 13 13 Preliminary Official Statement (Attachment 6) The Preliminary Official Statement is used to sell the bonds and disclose all material information to the potential buyers of the bonds 14 14 7
Continuing Disclosure Agreement (Attachment 7) SANDAG commitment to provide ongoing financial and operating information to the marketplace after the initial issuance of the 2021 Bonds in compliance with SEC rules 15 15 Invitation to Tender Bonds (Attachment 8) The invitation to tender Bonds is a disclosure and marketing document for the tender offer Incorporating a tender of select outstanding maturities into SANDAG’s upcoming refunding can (1) improve PV savings, (2) increase number of bonds successfully refunded, and (3) optimize marketing between taxable and tax-exempt series 16 16 8
Next Steps Week of February 15: Post Preliminary Official Statement and marketing of Bonds Week of March 8: Anticipated pricing date Week of March 22: Anticipated closing date 17 17 TransNet 2021 Bond Issuance: Review of Draft Note Documents Recommendation: The Transportation Committee recommends that the Board of Directors adopt Regional Transportation Commission (RTC) Resolution No. RTC- 2021-03, authorizing up to $200 million of refunding certain outstanding bonds and the issuance of up to $110 million of fixed-rate bonds, and the execution and distribution of the documents, in substantially the same form as attached (Attachments 3 through 8). 18 18 9
Proposed 2021 Note Issuance: Refunding Overview of Proposed Transaction Board of Directors Item 12B | February 12, 2021 1 2021 Note Financing Team San Diego Association of Governments Hasan Ikhrata, Executive Director Andre Douzdjian, Chief Financial Officer Jose Nuncio, TransNet Department Director John Kirk, General Counsel Ray Major, Chief Economist Dawn Vettese, Strategic Capital Funding & ITOC Manager Financial Advisors, Public Financial Management Peter Shellenberger, Managing Director Bond Counsel, Norton Rose Fulbright US, LLP Victor Hsu, Partner Disclosure Counsel, Norton Rose Fulbright US, LLP Russ Trice, Partner Senior Underwriter, Citibank Ron Marino, Managing Director 2 2
2021 Note Issuance Presentation 1. Why refund these notes 2. Potential size and structure 3. Credit rating 4. Note Documents 5. Calendar of events 3 3 Why We Are Refunding These Notes 4 4
Summary of Upcoming 2021 Transactions 1. Renegotiate a new TIFIA loan for the Mid-Coast Corridor Transit Project Lower TIFIA interest rate from 2.72% to approximately 1.75% 2. Taxable advance refunding of Series 2014A Bonds for debt service savings 3. Issue approximately $85 million in tax-exempt new money bonds on the subordinate lien for new projects 4. Roll the existing subordinate lien, tax-exempt short-term notes (the “TIFIA BANs”) from April 1, 2021 to October 1, 2022 Take advantage of low short-term rates compared to the long-term TIFIA rate 5 5 Credit Rating Agency Reviews Current high credit ratings on SANDAG debt program Current ratings – Subordinate Lien: Standard & Poor’s: AA Fitch: AA 6 6
Potential Size and Structure 2021 Series Notes (Refunding): Par Amount: $537.5 million Savings: ~$10 million Tax Status: Tax-Exempt Lien: Subordinate Preliminary, Subject to Change 7 7 2021 Note Documents – Attachments to Report 1. PFM Memo 2. Resolution 3. Draft Second Supplement to Subordinate Indenture 4. Draft Preliminary Official Statement 5. Draft Continuing Disclosure Agreement 6. Draft Note Purchase Agreement 7. Draft Escrow Agreement 8 8
Financial Advisor Memo (Attachment 1) Market Update 2021 Note Refunding Structure Financial Considerations 9 9 Resolution (Attachment 2) The Resolution authorizes issuance of the 2021 Notes and approves the following documents Preliminary Official Statement Second Supplement to Subordinate Indenture Note Purchase Agreement Continuing Disclosure Agreement Escrow Agreement The Resolution also approves other actions and matters relating to the 2021 Notes 10 10
Second Supplemental to Subordinate Indenture (Attachment 3) Supplements the Subordinate Indenture relating to SANDAG’s subordinate 2021 Notes Sets forth repayment provisions with respect to the 2021 Notes Directs proceeds for deposit into an escrow account 11 11 Preliminary Official Statement (Attachment 4) The Preliminary Official Statement is used to sell the notes and disclose all material information to the potential buyers of the notes 12 12
Continuing Disclosure Agreement (Attachment 5) SANDAG commitment to provide ongoing financial and operating information to the marketplace after the initial issuance of the 2021 Notes in compliance with SEC rules 13 13 Note Purchase Agreement (Attachment 6) Agreement by underwriters to purchase 2021 Notes from SANDAG for resale to investors Sets forth certain representations of SANDAG Identifies documents, opinions, and other requirements necessary to close the financing 14 14
Escrow Agreement (Attachment 7) Directs proceeds for deposit into an escrow account for payments of the 2018 Notes 15 15 Next Steps Week of February 15: Post Preliminary Official Statement and marketing of Bonds Week of February 22: Anticipated pricing date Week of March 15: Anticipated closing date 16 16
TransNet 2021 Note Issuance: Review of Draft Note Documents Recommendation: The Transportation Committee recommends that the Board of Directors adopt Regional Transportation Commission (RTC) Resolution No. RTC- 2021-04, authorizing up to $537.5 million of refunding notes, and the execution and distribution of the documents, in substantially the same form as attached (Attachments 3 through 7). 17 17
Resolution No. 2021-01 A Resolution of Community Based Organizations Working Group Recommending the Proposed SANDAG Commitment to Equity Statement to the Board of Directors WHEREAS, SANDAG is required to develop a public participation plan that describes explicit procedures, strategies, and desired outcomes for seeking out and considering the needs of those traditionally underserved by existing transportation systems; and WHEREAS, SANDAG established the Community Based Organizations Working Group (Working Group) to provide a forum for meaningful input from disadvantaged or underrepresented communities in the San Diego region into key activities associated with developing the 2021 Regional Plan; and WHEREAS, the Working Group is also charged with providing input on related planning activities with a focus on the social equity perspective; and WHEREAS, the Working Group is comprised of 12 representatives from community-based organizations (CBOs) or community collaboratives serving disadvantaged or underrepresented communities in the region; and WHEREAS, on January 7, 2021, the Working Group discussed the Draft SANDAG Commitment to Social Equity Statement and provided recommended revisions. Specifically, the Working Group discussed at length the groups historically underserved by actions and inactions at all levels of our government and society, and determined that a complete description of historically marginalized groups would be unattainable and would only serve to diminish the impact of the Statement and its commitments; NOW THEREFORE BE IT RESOLVED, the Community Based Organizations Working Group recommends that the SANDAG Board of Directors approve the proposed SANDAG Commitment to Equity Statement (Exhibit 1). PASSED AND ADOPTED this 4th day of February, 2021. | 1 1 Our Commitment to Equity We hold ourselves accountable to the communities we serve. We acknowledge we have much to learn and much to change; and we firmly uphold equity and inclusion for every person in the San Diego region. This includes historically underserved, systemically marginalized groups impacted by actions and inactions at all levels of our government and society. We have an obligation to eliminate disparities and ensure that safe, healthy, accessible, and inclusive opportunities are available to everyone. In 2021, SANDAG will develop an equity action plan that will inform how we plan, prioritize, fund, and build projects and programs; frame how we work with our communities; define how we recruit and develop our employees; guide our efforts to conduct unbiased research and interpret data; and set expectations for companies and stakeholders that work with us. We are committed to creating a San Diego region where every person who visits, works, and lives can thrive. | 2 2 1
From Vision to Regional Plan Board of Directors | February 12, 2021 1 A Vision for the 2021 Regional Plan | 2 2
Three Challenges • Reduce congestion • Improve social equity • Meet state and federal mandates to be faster, fairer, and cleaner State & Federal Mandates | 3 3 Legislative Mandates: State and Federal SB 375 and Air Quality: meet regional greenhouse gas emissions reduction target and Clean Air Act requirements Title VI: compliance with federal civil rights requirements and environmental justice considerations State & Federal Mandates CEQA and SB 743: shift to vehicle miles traveled to evaluate impacts of transportation projects | 4 4
Congestion State & Federal Mandates | 5 5 San Diego Race and Ethnicity Distribution Region Population by Race and Ethnicity 2016 46% 34% 11% 5% 3% 1% 2050 40% 39% 12% 4% 4% 1% White Hispanic Asian Black 2 or More Other State & Federal Mandates | 6 6
San Diego Income Distribution Region 30% 31% Household Income 25% 22% Distribution, 20% 2016 15% 13% 13% 11% 10% 10% 5% State & Federal 0% Mandates Less than $30,000 to $45,000 to $60,000 to $75,000 to $100,000 or $30,000 $44,999 $59,999 $74,999 $99,999 more SANDAG Regional Growth Forecast, Series 14, Version 17 Low Income | 7 Households 7 San Diego Population Distribution Region 300,000 From 2016 to 2050, 59% of the population growth in the region Senior 250,000 will be in the ages 75+ Population (75+) 200,000 150,000 100,000 50,000 State & Federal Mandates - 85 and Older Under 5 5 to 9 10 to 14 15 to 19 20 to 24 25 to 29 30 to 34 35 to 39 40 to 44 45 to 49 50 to 54 55 to 59 60 and 64 65 to 69 70 to 74 75 to 79 80 to 84 2016 2050 | 8 8
5 Big Moves Complete Next OS Inter-reliant strategies that Corridors work as one and enhance each other Flexible Fleets Transit Leap Mobility Hubs | 9 9 A bold new approach to planning for the future Embracing data- driven planning, leveraging emerging technologies, and incorporating resident input | 10 10
A Bold New Vision Fast, Fair, Clean | 11 | 11 11 Outreach and Engagement | 12 12
From Vision to Regional Plan Refinements Meeting our Social Equity and Phasing 19% GHG Reduction Analysis of Network Target Components Programs Modeling Funding and and Assumptions Policies Performance | 13 13 Addressing the Challenges Fast Fair Clean State & Federal Mandates | 14 14
Complete Corridors: Managed Lanes | 15 15 Transit Leap: Enhance existing service and expand Rapids | 16 | 16 16
Transit Leap: COASTER/ LOSSAN | 17 | 17 17 Transit Leap: South Bay to Sorrento Commuter Rail | 18 | 18 18
Goods Movement: Complete Corridors, Rail, Next OS | 19 19 Rural Corridors: Safety and Next OS | 20 20
Mobility Hub Areas and Flexible Fleet Coverage | 21 | 21 21 Mobility Hubs | 22
Mobility Hub Areas: Focus Area for Development, Complete Streets, and Amenities | 23 23 Flexible Fleets: Pilots and Services | 24 24
Active Transportation: Bike Network, Vision Zero, and E-bikes | 25 25 Zero Emission Vehicles: Charging and vehicle incentives, buses and other fleets | 26 26
Land Use and Housing: Planning and Capital Grants and Resources | 27 27 Climate Resilience: Planning and Projects | 28 28
Congestion Management: Value-Based Pricing and Employer Programs | 29 29 5 Big Moves – 1 Integrated System Bring back all components 30| 30
Initial Performance Fast • Peak Period Work Trip Mode Share Fair • Access to Transit • Access to Employment Centers Clean State & Federal • SB 375 GHG Target Mandates | 31 31 Mode Share – Peak Period Work Trips PEAK PERIOD WORK TRIPS MODE SHARE 2016 80% 13% 3% 3% 0.2% DRAFT 2035 62% 17% 13% 7% 0.5% 2050 56% 19% 15% 9% 0.6% 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% Drive alone Carpool Transit Bike & walk Other (TNC, MicroMobility, Taxi, School bus) | 32 32
Regionwide Transit Access | 33 33 Transit 0% 50% Access for 2016 9% 205033% 2035 35% VISION Social Total Region Equity 2016 12% 2035 38% 2050 41% within 0.5 miles DRAFT Low Income Population of commuter rail, light rail, or Rapid 2016 10% 205034% 2035 36% transit stop Minority Population 2016 8% 32% 35% 2035 2050 Senior Population | 34 34
Transit Access to Tier 1 Employment 0% DRAFT 50% Low Income 2016 16% 28% 2035 2050 33% 30 min. 45 min. 2016 35% 2035 51% 2050 58% Minority 24%28% 2016 13% 20352050 30 min. 2016 32% 2035 46% 2050 52% 45 min. | 35 35 Transit Access to Tier 2 Employment 0% DRAFT 75% Low Income 55% 58% 2016 40% 2035 2050 30 min. 205078% 2016 63% 2035 80% 45 min. Minority 51% 205049% 2016 34% 2035 30 min. 2016 60% 2035 73% 2050 76% 45 min. | 36 36
Upcoming Regional Plan Items Meeting Date Topic March 12 Pricing and Funding Assumptions March 26 Social Equity April 9 Technology Considerations April 23 Alignment of State, Regional, and Local Planning May 28 Draft 2021 Regional Plan | 37 37 2021 Regional Plan 2021 Timeline SPRING SUMMER FALL Release Release Adopt Plan Draft Plan Draft EIR and Certify EIR | 38 38
February 10, 2021 SANDAG Board of Directors 401 B Street San Diego, CA 92101 RE: Priorities for the 2021 Regional Transportation Plan Dear Chair Blakespear and SANDAG Board Members: The authors of this letter represent thousands of families, residents, and workers throughout the region advocating for an equitable, safe, and healthy transportation system for all communities in our San Diego region. We are writing in support of seven outcomes we would like to see accomplished in the 2021 Regional Transportation Plan (RTP). As we have noted in prior communications, it is imperative to transform transportation across San Diego County from the ground up, in a manner that goes above and beyond state targets in climate, social justice, and economic justice and gives all in our region the clean and healthy environment they deserve while ensuring high-quality jobs and a world-class transportation network.
Below we have attached seven outcomes the RTP should achieve to support a safe and healthy future for all communities in our San Diego region. We urge the Board to hold these priority outcomes as the measures of success against which any draft RTP should be evaluated. We look forward to working in partnership with SANDAG staff and the Board of Directors to ensure that the new vision for our regional transportation system supports a just, prosperous, and sustainable future for all. Sincerely, Andy Hanshaw, Executive Director, San Diego County Bicycle Coalition Justin Hammond, Co-Founder and Chief Energy Advisor, Hammond Climate Solutions Tara Hammond, Manager, San Diego Climate Hub Bridgette Browning, President, UNITE HERE Local 30 Pamela Heatherington, Director, Environmental Center San Diego Matt O’Malley, Executive Director and Managing Attorney, San Diego Coastkeeper Ron Forster, Escondido Neighbors United Jeremy Abrams, Business Manager, IBEW 569 Diane Nygaard, President of the Board, Preserve Calavera David Grubb, Transportation Chair, Sierra Club San Diego Mike McCoy, President, Southwest Wetlands Interpretive Association Diana Ross, Executive Director, Mid-City CAN Bee Mittermiller, Transportation Committee Chair, SanDiego350 Andrew Meyer, Conservation Director, San Diego Audubon Deborah Knight, Executive Director, Friends of Rose Canyon Kyle Heiskala, Interim Executive Director, BikeSD Laura Walsh, Policy Coordinator, Surfrider San Diego County Randy Torres-Van Vleck, Director of Policy and Planning, City Heights Community Development Corporation Noah Harris, Policy Advocate, Climate Action Campaign 2
Key Outcomes for SANDAG’s RTP To secure a healthy, safe, and equitable future, SANDAG must embrace an outcomes-driven RTP and identify priority outcomes aligned with those values. Below are seven key outcomes the Quality of Life Coalition urges SANDAG to prioritize in the 2021 Regional Transportation Plan: 1. Improve public health in disadvantaged communities and prioritize transportation and environmental justice by: ● Reducing transportation related pollution levels in disadvantaged communities. ➢ AB 805 requires SANDAG to identify which communities to prioritize in their efforts to reduce pollution levels in this RTP. ➢ SANDAG must use CalEnviroScreen 3.0 to identify these communities; we recommend defining disadvantaged communities as those in the top 30% of census tracts countywide, but also acknowledge that there are historically underinvested communities in San Diego County that are not adequately represented on this tool. ➢ Any new transportation vision that successfully reduces pollution levels in disadvantaged communities must include significant reduction in Vehicle Miles Traveled (VMT) and rapid electrification of the bus fleet. ● Providing infrastructure that: ➢ Encourages increased physical activity from active transportation ➢ Reduces the risk of traffic related fatalities and injuries for all modes ● Analyzing health outcomes that are affected by the regional transportation system in each alternative, such as asthma, cardiovascular and pulmonary disease, lung cancer, type 2 diabetes, physical activity and obesity rates, by demographic group. 2. Align with and exceed cities’ CAP transportation mode shift targets. ● SANDAG’s plan needs to support those local plans in order for our cities to be able to hit their targets and support transportation alternatives to driving, such as mass transit. ● Further, AB 805 – the new state law to reform SANDAG – requires that SANDAG align the RTP with local climate action plans. 3
3. Achieve a 30% or more per capita GHG reduction from transportation by 2035. ● SB 375 requires a minimum of 19% reduction by 2035; however, SANDAG Executive Director Hasan Ikhrata has identified a 30% target as feasible, and SANDAG should pursue the maximum feasible reduction to adequately address the threat of climate change. ● VMT reduction and mode shift through land use, housing, and transportation planning decisions must play a significant role in GHG reduction. ● As evidenced by Governor Brown’s Executive Order B-55-18 to Achieve Carbon Neutrality by 2045, and SB 32 and EO S-3-05, which set statewide emissions reductions targets at 40% below 1990 levels by 2030 and 80% below 1990 levels by 2050, the State of California continues to move towards decarbonization. SANDAG should align with these statewide goals in the next RTP. ● When vegetation is destroyed for transportation facilities the resulting loss of carbon sequestration and storage capability should be counted as a loss in future GHG reduction tabulations. 4. Create a rate structure that increases ridership and expands access to mobility. ● The regional transportation system must include Youth Opportunity Passes, which are no-cost transit passes for students and youth 24 years old and under. ● It must also include strategically-priced fares that maximize transit usage in all income brackets to increase use of public transit, improve public health, lower greenhouse gas emissions, and enhance social equity. ● Finally, it must be easier for seniors, people with disabilities, and Medicare users to obtain the discounted passes they are entitled to by making them available online and at more in-person sites. 5. Ensure that public transit is safe, comfortable, convenient and competitive with automobile travel. ● Public transit must be competitive with driving in terms of time, cost, predictability, and convenience. ● Prioritize urban core and transit-dependent communities, who are frequently low-income communities of color. 4
● Provide 24-hour service and immediate improvements to bus service, including amenities such as restrooms at transit stations. ● Ensure safe and comfortable bike and pedestrian first and last mile access to transit through funded, comprehensive, low-stress bikeway networks connected t o mobility hubs, as well as adequate accommodation for bicycles on transit. ● Prioritize new rail transit that connects underserved communities with job centers such as the blue line express and a purple line alignment through City Heights while evaluating the impacts on communities that are being displaced and gentrified. ● Prioritize relocation of public transit corridors that are vulnerable to erosion and sea level rise, rather than armoring in place. ● Ensure rural communities have access to quality, convenient, sustainable travel options that offer alternatives to fossil-fuel vehicles. 6. Ensure transportation projects are creating high-quality careers in construction in our region through a Project Labor Agreement. ● Major cities including Seattle and Los Angeles have employed project labor agreements to promote their commitment to labor stability, joint labor-management apprenticeship and a diverse, local workforce. ● Encourage construction employment and training opportunities in ways calculated to mitigate the harms caused by geographically concentrated poverty and unemployment in economically disadvantaged areas and among disadvantaged workers. ● Adopt a Community Workforce Policy that is implemented through a Project Labor Agreement with the Building Trades to create career pathways for a skilled and trained workforce for residents of our local communities. 7. Preserve Biodiversity, Natural Habitat, and Open Space ● Ensure transportation projects protect the integrity and contribute to successful implementation of existing and planned multiple species conservation plans (MSCPs) including avoiding sensitive habitat areas within the City of San Diego’s Multi-Habitats Planning Area and County of San Diego’s Pre-Approved Mitigation Area and consistency with MSCPs rules. 5
● Ensure transportation projects preserve natural habitat and other ecologically sensitive lands not covered by regional MSCPs including: urban canyons, waterways, waterbodies, ecological linkages, and ecologically important greenfields. ● Direct transportation projects away from remote or rural natural lands and into existing developed communities and urban areas. ● Ensure habitat mitigation land related to transportation projects is protected and managed for that ecological benefit. 6
From: Gonzalo Quintero To: Clerk of the Board Subject: SANDAG ITEM 9 & 10 Date: Thursday, February 11, 2021 11:33:05 AM CAUTION: This email originated from outside of SANDAG. Do not click links or open attachments unless you are expecting the content. Greetings Hon. Board Members, My name is Dr. Gonzalo Quintero and I would like to provide public comment on SANDAG item 9 in an effort to support the action to reinstate the 2nd Vice Chair position. If item 9 is approved I wish to provide my support on item 10 for the nomination of Mayor Sotelo Solis to serve as the 2nd Vice Chair. The mayor’s thorough understanding of the interconnectivity of our region is unrivaled and her work ethic is unparalleled. Thank you for your consideration. Dr. Quintero Sent from my iPhone
From: Flavio A. Olivieri To: Clerk of the Board Subject: Writen copy of comments made today at SanDags Board meeting. Date: Friday, February 12, 2021 12:36:53 PM CAUTION: This email originated from outside of SANDAG. Do not click links or open attachments unless you are expecting the content. Dear SanDag Board Members, Since the time for public comment was reduced to 1 minute, for item 14 of the Boards Agenda today, I was not able to complete my statement. I hope that whit written statement can be considered in its totality; Transportation Planning should be closely tied to an ECONOMIC DEVELOPMENT long term vision, and we need to Apply the adopted Equity statement. Inclusive growth and recovery should be privileged, we need a change in paradigm. New transportation infrastructure should not just be to resolve current inefficiencies of taking people to their Jobs, but to facilitate and promote the creation of high value Jobs in their communities, create development hubs, reduce commutes or even eliminate them. The plan presented is focused on moving people to jobs, as is now, but not creating jobs where the community In San Ysidro this is very relevant and a great opportunity for the entire region, considering the increasing integration with the Baja California economy in more creative industries and high value-added jobs. Imagine a Google binational twin campus surrounding the POE. Today the border is seen as the end of the line, instead of a destination of opportunity, a HUB or node. Ignoring the reality of our BINATIONAL MEGA REGION. San Diego has a growing gap in the talent pipeline that will increase in the coming years. We need to harness the binational opportunity, an opportunity to serve a market of over 2 million people. Cargo movement is not the future, manufacturing will be shifting, and serves other regions away from San Diego. CREATIVE industries – technology – human capital-based development – Tapping into talent sources should be a priority – in this regard SAN YSIDRO is more strategic than OTAY mesa, and closer tied to San Diego´s economic drivers. The presented plan misses the mark. It is ignoring what is happening just a few miles south of the SY POE. Regards, Flavio Olivieri UCSD-UMEX Research Fellow Chula Vista Resident 619 653 9484
You can also read