the sale of the condo units. in terms of the actual costs the event authority is committing to today, they will get reimbursed by the city through the schedule we are putting forward. i would like to see a more equitable distribution of the risk. one is the fund-raising committee goals. if the fund-raising committee is not able to raise $32 million, the city is on the hook for would ever the gap might be. there should be a share of the risk of what we are able to raise to covers the costs. this is a comment i have for the dda. in other development agreements, when a developer agrees to build this many units, it forces a risk in terms of their return on investment. here, i just do not see that.

>> should i go to the rest of the risk factors? have you gotten your questions addressed? thank you. supervisor kim: you were going to respond? >> i was just going to articulate another response to supervisor kim's observation. there are defined repayments sources in the agreement, and the authority is only able to get repaid most of its cost if it gets approved as a long-term lease. that is a discretionary decision by ceqa and the board of supervisors. there are other approvals required as well, including the port commission, acting in a discretionary capacity. ifd, which is the next major

source of revenue, is dependent on that happening. there is significant risk on the development side that does not address the general fund risk. supervisor kim: would you like to add to that, in terms of development risk? >> there are a couple of things i would like to add. the first is possibly an unknown fact. that is the office of economic development, when michael cullen was involved, during 2010, offered the bones of this deal to three developers, and they all turned it down. the reason they turned it down is no developer in their right mind spends between $50 million or $80 million in the hope they would get the entitlements down the track. there must be something in the

steel which is risky for the event authority, if that is the case. the second thing i will add is this continues to be discussed as a development deal. i do not consider it to be a development deal. the valencia and america's cup was awarded because they paid the event authority 60 million euros, and guaranteed 40 million euros of sponsorship. in other words, they gave in cash and guarantees 100 million euros for the rights to host the america's cup. for san francisco, we have awarded the america's cup of san francisco no payment of cash at all. all we have been awarded, really, is the repayment of our cost to operate the piers that i

think the executive director in one of the board of supervisors hearings went on record saying is good to fall into the water in the next 10 years. there is no one standing behind the event authority. i am troubled by this project that is being classified as just a development deal. at the end of the event, what will happen is that the fed authority will have the right to get its money back, provided it only spends about $80 million. after that, it won't get its money back. after that, it has the rights to go through another entitlement process to see if they can develop anything. i think that accurately describes the deal. >> thank you. supervisor kim: no further questions. i know there are a number of other items we would go through in terms of budget analyst

recommendations, but i want to open it for public comment, if we do not have additional questions at this time. i am going to read from the cards. each individual will receive two minutes of time. rubin hechanova, peter stoneburg, jim lazarus, louise renny, paul erickson, norman perce. -- perce -- pierce. >> my name is peter stone berger, and i and the commodore of the st. francis yacht club. we have 450 members. we are a small business, a nonprofit corporation. are substantial -- we are a

substantial rent-paying tenant of the port of san francisco. we are already seeing the jobs creation and economic development we were all hoping to see. most clubs are experiencing declining membership. many are even closing down. in spite of the fact we do not have a team in the competition, and in this tough economic climate, are small business is doing great. we have nearly 200 union and nonunion employees, most of whom are minorities, who rely on us for their livelihood. we are already hiring local employees in anticipation of the cup. since the host city agreement was approved by this board, and we have experienced substantial growth in our membership. you can see from this chart that

our new membership grew 69% last year. i attribute most of this growth to the america's cup. our club is a leading indicator for the path to economic stimulus and local jobs creation that we see. are city desperately needs this type of stimulus and jobs creation. our small business is living proof that we are already seeing it. please approve the recommendation to allow san francisco and its residents to enjoy the myriad benefits of the america's cup. thank you. chairperson chu: next speaker. >> good afternoon. jim lazarus, san francisco chamber of commerce, representing the chamber and the alliance for clubs and system of growth. we have been given the right to host a world-class event in san

francisco, which will sell the city to the world. we are going to get rebuilt legacy peers and infrastructure that the city and the port of ben, by and large, unable to figure out for decades how to maintain and how to put to good economic and recreational use for the people of san francisco , and recreational purposes. we have the opportunity to do some great projects built around the america's cup and the funding that will come from this partnership. i say this in good humor. please, board of supervisors, work this out over the next 10 days. get this approved on february 28. i am sure it won't happen, but please don't screw up this great opportunity to not only put a great event in the bay area over

the next two years, but to rebuild the infrastructure of san francisco for generations to come. thank you. >> i am andrea, the president and founder of ecopress partners, a minority-owned small business. we were founded to provide environmentally sound green solutions in the printing industry. as part of the workforce development and community outreach, i have been in dialogue with them for over five months now. i have found them to be extremely responsive to the proposals i put forward to them. if indeed i am awarded business, they are awarded the opportunity to work here, and i

am awarded that business, i will be able to hire both minority workers as well as individuals to expand my business. i implore you to help them to bring a major event to our city, so small businesses like mine can grow and expand. thank you. chairperson chu: thank you. next speaker? >> good afternoon. i want to thank you for your hard questions. that was great. i am here because almost 50 years ago iran and took part in match racing here on the city front, san francisco bay. we did not need quite as much area, and maybe nobody watched us. i also, as a race committee head for the golden gate yacht club,

ran maybe 100 starts in a few years, it sometimes 10 and 28 votes per start. i will tell you there is no need for infrastructure to run a sailboat race. hundreds of sailboat races are run every year on san francisco bay. the yacht clubs put up the committee votes. they send out zodiacs to move buoys. i would get seasick on a committee vote. they do not need that. what is happening here, it seems, is that the port is conflating the really great thing about having the america's cup race with their long-term needs to find money to build stuff. they are separate subjects. the race can go on without spending a lot of money. as for the visiting big yachts meeting dredging and big facilities, if they are big enough, they can stay out in the

bay, and drop their hooks in place, and a row motorboats back to the city. this is a great event. it is overlooking small boats. small boats are going to keep this bay happening. i hope we can find some way to do that in the long term. meanwhile, let's get on with the race. we do not need lots of construction. we need coast guard and police. nobody can go near those boats if they are moving 40 knots. even five knots is going fast. >> good evening. i am paul erickson. i have been a resident for almost 60 years. i started a grammar school here in the 50's. i am a member of three yacht clubs in the bay area and one in australia. i have been at america's cup events since the 1970's on three continents. i serve on the board of the u.s. coast guard foundation, based in

connecticut. we represent the pacific air, based in alameda, headed by admiral brown. it is the largest coastguard sector in the world, comprised of 73 million square miles, from here to india, the arctic to antarctica. the coast guard is interested in sailing a tall ship named the eagle to san francisco in the fall of 2013. this is been a top-down decision from the komondor -- from the commodore to various sectors. the foundation is hoping to bring back their annual awards presentation dinner than has been held 20 years at the fairmont, when? wade was a member of the coast guard foundation -- when dick swann was a member of the coast guard foundation.

that brings in between 700 and 01 thousand people to that event alone. people from all over the country. the coast guard and the foundation supports the event. i just want to add that i have been to three continents with the cup. i think if you look at what has happened at fremantle in australia and auckland, new zealand, 20 years after the event, that is still a tribute. i think your constituents will be proud of you when you move this project forward. thank you. chairperson chu: i want to take a moment to welcome the former city attorney, louise renny. it is always good to see you. >> i want to say at the outset i have been in support of the america's cup. i have the utmost respect for the market and carol. but i am here today to oppose

the effort to sneak the eight washington project into this legislation before the eir for that project has even been approved. since i understand from port staff that they are now going to delete the eight washington peace from the proposal before you, namely seawall 351, i can stop here, other than to say to make sure that is actually done. if one of us had not found the reference to seawall 351 snuck in a whole raft of documents, eight washington street would have gone by you, and it would have gone by us. i think that is a disservice to you. it is a disservice to us who legitimately oppose 8 washington

project. and it most certainly is a disservice to the america's cup, which does not deserve to be looped in with other projects they have nothing to do with. thank you. chairperson chu: i am going to call a few more names. jason santana, brad caress go, hunter cutting, david fossio, valerie santori, fernand of costello, vince cassolina. >> good afternoon, or almost good evening. my name is gary. i am here as i have been at two other board of supervisors' meetings, back in december

2010, as an ardent supporter of the america's cup. there is one little area down there similar to what the distinguished louise testified to, which i am opposed to. seawall lot 330 -- there should be a more equitable arrangement. why is seawall lot 330 even in there? there is no linkage to put it there, except with these conflated costs now going into pier 30 and 32. i only found out about this because i happened to be hanging out at the job of -- at the java cafe across the street. seawall 330 should not be in there. besides that, with the inflated costs being $440 million -- that is for giving away this little piece of property across the street.

it is worth $35 million two years ago. now, under the report, these kooky real estate appraisals are putting the property at $140 million. they bought into something with the event authority. that thing should be eliminated. winston churchill once said give it the order of the boot. it does not belong in there. it is illegal. it does not justification for it. it is a pure give the public funds. thank you. >> good evening again. my name is david fozzio. i am the founder of helix opportunity, a disability services firm. my comments are more directed

toward the ceqa and mitigation monitoring and reporting program. there are obvious adverse social and economic factors for the disability community within each of these projects. i do understand the event authority is interested in providing access features to allow the disability community to access these events and these facilities. as we move toward implementation, i want to redirect your focus away from access, toward inclusion. over 1/3 of our population lives with one or more disabilities. maximizing our participation is critically important. by statistics alone, you should expect over 100,000 disabled spectators over the next two years, as well as families and friends. 70% of all disabilities are hidden or invisible, just like mine are. i endured a traumatic brain

injury august 2, 1996. we have an annual spending power ranging to 1 trillion dollars. -- $1 trillion. our city and state are going broke. we need the money. we enjoy sports and sailing. we travel and have money to spend. putting in handicapped parking spaces, and in wheelchair ramps, and meeting 88 access is not enough. the city of san francisco can do better than provide disability access during the 34th america's cup. we can utilize state of the art processes, age, -- signage, and others to create a more inclusive environment that allows us to meaningfully enjoy the best of what is san francisco and allows us to become part of the life of the

bay area. these enhancements will be a legacy that transforms our city into a more interactive, engaging, and compelling destination for everyone to visit. the conversation has to change. it is not about access and civil rights. it is about inclusion and meaningful participation. include us in what is best in san francisco and what his life to the bay area. there is a monumental difference between access and inclusion. access unintentionally stigmatizes us as different. it says "blacks enter in the back." that is offensive to us. anytime you have to put up a sign that says this is a handicapped-extensible entrance -- chairperson chu: your time is up. if you would like to submit your statements, we would be happy to take that into the record.

>> good evening. i am a local 10 longshoremen. we have been in talks with the racing management to assure our work on the waterfront and the spears. we are excited about this venue. we are excited about the work that could be coming. we traditionally provide labor for the spears -- these piers. we just want to go on record with that. chairperson chu: thank you. >> good evening. my name is jason santana. i am president of local 75. our unit is next to a supervisor kim's district. i work security on the docks, including the cruise ship terminal.

unfortunately, i am not working there today. my members demanded we get new job, because we continue to be replaced by renta cops on marine terminals. we appreciate the assurances that we will guard the peers of america's cup racing. the last thing i want to do is stand in front of my members and say i did not come through. >> good afternoon. paul oliva. i am "the san francisco chronicle" waterfront columnist and and part of san francisco yacht club. i can also say we have increased our membership,

seemingly directly in connection with the america's cup, san francisco being chosen as the location. we urge you to support the items before you and to get on with identifying and planning for the legacy uses and development of the waterfront to increase access. moving this ahead will also help us with our planning for hosting teams and welcoming visitors to san francisco. putting on my consultant hat, i might comment on a couple of the questions you had earlier. with people coming to san francisco, this is just anecdotal evidence, but i have heard from various sailing clubs from southeast -- from south beach harbor, and various harbors, that bookings are increasing. hotels have contacted me with

interest in the cup. they are getting interest in bookings for rooms as well as meeting space and the new space. we are seeing activity around the other sectors of the city. as far as fund-raising, it is difficult to fund raise as long as there is a question of whether the city is moving forward. the faster you move ahead, the more easy and swift the job is going to be with fund-raising for the city. >> i am hunter cutting. i grew up sailing in northern california. i sail on the bay right now. with this proposal before us, we can see some things have approved in the deal. but some of the central problems and one of the central ironies of the deal is that it does not

do much of anything to actively support sailing on the bay. when you looked at the list of benefits the port presented, conspicuously absent were facilities for sailing, or anything near that in the list of benefits. i thought the ceqa findings did a nice job in coming up with a benefit, which was to generate interest in the sport of sailing. we are already a world capital of sailing. anybody in sailing already knows that. we cannot meet the current demand right now. there is a 10 year wait list at public arenas. there is no public facility storage this side of the bay bridge. the marina that is proposed in the deal is purely optional. it is not required to go forward.

the credits for spectator dredging -- big deal explicitly allows the event authority to cash those credits. they do not have to be credited against the marina. finally, the vision remains the same -- large boats and super yachts. there is a total elimination of smaller boat slips at the san francisco arena. we need a larger vision that includes facilities for small boats in this deal. i asked you to make that happen. thanks. >> my name is valerie. i am a taxpayer and a member of the golden gate yacht club. i with my husband run the youth sailing program. we are in favor of having america's cup development proceed. we ask for your support in working out the details of the

agreements. we serve high school students here in san francisco, not necessarily members' children. we have three schools with currently represent. not all of our kids can afford to pay. a good number of them don't. we raise all of our funds through fund-raising and occasional grants. i can tell you that having the america's cup has helped our program in many ways. we are partnering with more other youth programs, such as the sea scouts, other yacht clubs, doing everything we can to make our assets work for as many kids as possible. our membership is up. we are finding a lot of enthusiasm for fund-raising with our members, especially the new

members. the numbers from last year are about twice what we had a year ago. my next-door neighbor has about 75 kids in their program this year. usually it is around 30. this is all because of the buzz of the america's cup. i would like to see that continue. thank you for your time. i hope you can work out the details. chairperson chu: i will read a few more names. tony kelly, antoinette, lauren chagas -- chavez, joe skinner. next speaker. >> good evening. i am the executive director of the fisherman's wharf community benefit district. our district represents businesses, many of them small businesses, and property owners in fisherman's wharf.