>> good morning, everybody. welcome to our america's cup center here at pier 80. i wanted to make some further announcements in light of the discussion that has been happening in our city on our america's cup event happening, starting this year, and will definitely have been in 2013 as well. i am here with stephen berkley,

the head of the event authority. thank you to you and to jim and mike and our team for working intensely for months on the last few weeks, putting together the development agreement that is part of the investments on the america's cup, which oracle and others have been working on. the last couple of weeks, i have been a key participant with members of the board of supervisors but also engaged between our staff and the abet a party and corp. team staff, to try to get to all of the complex agreements that have to do with the investments. i will say, in light of those discussions, some of which have been written about extensively from all of you, i started to

get the feeling that people were for getting help on this race is going to be for our city and started talking about not only the complexities of planning, permits, investments, returns on investments, i even have people start mentioning lawsuits that have started to creep up. i wanted to get back to the focus. the focus has always been that we would work with our event authority, with the oracle racing team, to present one of the best, most interesting, and dynamic international races this country has seen, and to get back that excitement and not get so bogged down in all of these conversations that we have been having, particularly in the last couple of weeks. we have been working intensely to make sure the event and the purpose of the event continues to go forward.

we are announcing today, in light of the complexity that presented themselves, drawn-out discussions over that, we have worked out some agreements, some changes that will make it less complex and therefore get back to the origins of it. the race is still confirmed here, but we also want to let you know, we have agreed, piers 30 and 32 will no longer be in the immediate discussions for development. we will consolidate all of the teams here at pier 80 for this event beginning this year and through next year. i think that will help with the conversation. certainly with the level of

investments that have been anticipated to repair 30 and 32. we will not be needing those, and we figured that out over good conversation that we had this weekend. that will bring us back to the origins. i want to emphasize, in this decision not to have 30/30 to be a part of this at this time -- and i emphasize, at this time -- consolidation will take place with all the teams but we will still have -- and i am promised, tomorrow, some of the walls around the shed will be coming down as part of the investment in building the james herman cruise ship terminal at pier 27. that will continue forthright in that timeframe. i want to get back to the time bring the new want to have for this year and next here on the races that will happen. we are committed to those time

frames. we did not want any further disruptions from that. we will be working with our report, members of the board of supervisors who have been notified about this recent change, and give ourselves some adequate time to adjust to those changes and focus on the things that have to be done to get this race ready. mr. ellison and i were in conversations about an hour ago. he is as enthusiastic about getting the race started. he expects to win, i expect him to win the race. we will look at other parts of our report to see how we can do future investment and entice private investors to come in and make sure we can repair some very valuable parts of our pier. i want to again say thank you to the members of our event authority.

i know lucy is here. carey is here helping us raise private dollars. again, thank you to steven barkley and you're wonderful team for working with us. this wonderful event, with the books that we are starting with, we will start and continue on that time frame and as you have seen here, even though i cannot let you into the secretive rooms that our housing the larger boats, their technology, we will continue on those posts. we will continue to announce that. the time frame that we meet. that is the immediate news. i want to reconfirm, we expect to have these races continue. we expect to draw an hour large people around the bay area to

see this race. it continues to be a race that will blend of technology of how you view the race, how the votes are outfitted with information and technology coming from the race itself and welcoming in the new generation that will be able to see this for the first time from the shore, waterfront, in new ways that have yet to be announced. not getting ahead of ourselves. it will also involve a new generation of people that will appreciate the fast sailing sport, the youth that we think will be excited about this race and future races to come. this is where we wanted to be. this is where we want to confirm the excitement that this gives to our city, a city that is not only dependent but thrives on tourism and events of international stature, as the

america's cup is all about. i look forward to getting on one of those ac-45's. i think you have convinced me. i need to feel the speed on that. that will happen shortly. i will make sure i have my insurance in place before i do that. otherwise, i wanted to give mr. barkley a chance to comment on the change and to reconfirm the things we are doing to make race successful. [applause] >> thank you, mayor lee. the thing that i would like to get across from the amendatory point of view it is, the timeframe we are working to was always aggressive. we had a year-long construction project on pier 30/32. we compressed that into nine months. when we looked at where we were at, where the city was at, ourselves, we collectively came

to a decision that maybe this was the best way. for those that no the intricate details in the planning for the america's cup, you know that pier i-80 was always the contingency plan for teams to base themselves here in 2013, just as they will do so here in 2012. with this behind us, we can focus on having a fantastic sailing event in the san francisco bay, first time it has been done before, and we are really looking forward to it. [applause] [applause] >> we are going to take a few questions and then break. the mayor will be available in smaller groups. a couple of questions? >> are you scaling down your expectations on economic

benefits? >> no, i expect the race will continue to draw what we were expecting. 5000 people on a daily basis coming in. the races are still planned the way they are. we expect the bay area to receive a billion dollars worth of economic impact from the races. we are building on that. still, the complexity of the transportation plan, the housing of people here, even to this weekend -- i was working on the taxi hackathon, making sure that they are servicing all the different visitors we expect for the event. we are fully expecting the economics to be as great at it had been. >> could you follow up on those potential construction jobs at pier 30/32 that will be lost? >> i do not have all the details

there. obviously, the immediate development of 30/32, there will not be those jobs there because we will not be developing. does that mean it is forever lost? i do not think so. those piers are very attractive to future development. we will have the discussions in the future. they are planning for this. it is not forever removed, but for this race, at this time, i believe it helps with going forward with consolidating everybody here and making sure the race is the primary focus and timeframe that we want to have to have a successful race. >> [inaudible] >> and the scope of the project

at 30/32 was to repair -- refurbish those piers. i think the estimate was $30 million. what we have done here, a couple million dollars already spent here. there are 80 people working here. at last count, 24 local hire people from this neighborhood that are here with one team. i personally see this being replicated along the pier. we will also need to look at -- i do not think this will fit for all the teams -- but we may need to look at putting some teams on the end of pier 27, 29. that was always the plan. from the authority point of view, we see little changed other than moving the teams from 30/32 down to here. the biggest chain would be if someone wanted to walk from the village to pit row, they will

now need to get on muni or something. >> [inaudible] international part us alart fesg on at the same time as the america's cup. have you made any inroads with that? >> i do not think we have ever rejected any idea. i think we have been quite excited about the integration of art throughout all of our events. i do not see a stalling any discussions around it. if they feel that way, i will get in touch with them, but i do not see it as a barrier to the race. >> [inaudible] >> when everybody asks me for funding, i take more time to respond because i do not have a

whole lot in my pocket. >> we are going to break and we will be available for questions.

>> the question when i started 11 years ago when i started doing resolution work is can anything be presented on a really low resolution device where it is potentially a digital image? can anything be presented that way? or will it feel cold and electronic? >> the imagery will change. there will be four different sets. it is a two dimensional image. it is stretched out into three dimensions. the device is part of the

experience. you cannot experience the image without the device as being part of what you are seeing. whereas with the tv you end up ignoring it. i make gallery work more self and budget and public art work where i have to drop this of indulgence and think about how people will respond. and one of the things i was interested in the work and also a little fearful of, it is not until you get to the first and second floor were the work is recognizable as an image. it is an exploration and perception is what it is. what are you seeing when you look at this image? one of the things that happens with really low resolution images like this one is you

never get the details, so it is always kind of pulling you in kind of thing. you can keep watching it. i think this work is kind of experience in a more analytical way. in other words, we look at an image and there is an alice going on. -- and there is an analysis going on.