things like that. thanks for your question. we will take the entirety of the site and conspired it to industrial use. >> and the slide is for benefits. i know that just to highlight some of the key items. this project generates ongoing revenues to the city and the port a significant development impact fees and jobs and open space focus on pedestrian bicycle paths and also human access to the waterfront. and there you see the numbers. we'd be glad to go into more

details. and then graphic legal first on horizontal development we showed as mentioned here earlier the infrastructure. we want to time the infrastructure wisely and so the amount due or the amount out is minimal as possible. and then graphically you see this slide represented here in a custom thank you very much fashion. and those next two slides the public revenue you summary. you know, interim rent. we have a good use there today obviously the ballpark is great.

our first lease would be a master lease and as the parcels were developed individually they would come out of that master lease individually. you see the interim ramp and the pier 48 ramp the use there. the capital participation as well which would be sales of the sites going forward and refinancing and things like that. the port would participate and these uses are new the tax revenues here. and graphicly this barely fits on one slide. a real opportunity for the port and city to the developers

expertise and commitment to the neighborhoods. so i'd like to walk up wrap up with this slide and hand it off to my colleagues. i want to say a few words. and how excited the port is to develop this property. we've done significant amount of diligence the reports and many, many public meetings. in the past and, of course, ongoing since 2007 to shepard and shape this opportunity. the location is superior and we really are expending the fabrics of the concern part of the bay to provide revenues to the working waterfront and with the construction and management

appropriate to this highly visually location. and as mentioned the public benefits are significant to this site there are residents living here in 24/7 - 6 hundred and 50 on site jobs and others jobs that flow out of the project. vibrant retail and an appropriate amount even if parking. this comments the area. so thank you for your time. i'd like to introduce my colleague >> colleagues any other questions before we switch speakers in. seeing none none >> workforce development i want

to take a few minutes to talk about the partnership with between our office and the port as to the 3 developments along the waterfront. this project as well as pier 70. i've been pleased patio be part of the partnership. certainly working with the giants who have helped the community. we're able to expand the lense of this development. to talk about the projects more broadly. obviously a development of this scope is definitely going to have impacts and obviously as any project litigation we're going to talk about how to mitigate those impacts. we're trying to move forward

citywide significance. this includes targeting investments that will help the city meet fits growth demands. we need to do more to house people and we're looking to do inclusiony housing. more boardly we're trying to address city and regional wide issues. this takes vanilla of the port you owned land and it's kind of pa blank slated project now but we can use other board projects see of the city in this neighborhood to set the size for policy dialog that will form the next coming decades. so quickly round u run through

those dialogues i'll be happy to go more into details. the urban slides this is more sort of as a reaction to trying to enhance that's been built around it in mission bay. we're keeping parking at the edge so people can walk around. there is a 24/7 neighbors is an important part of this process. on the pier 33 assessment and the piers assessment is a great

step forward to the city. it allows us to do a lot of those deals in this instance we're able to get itself analysis ahead of time to address the issues that are brought on ahead of time and hopefully craft agreement for transit investments coming online for example, this will be connecting the subway and the different patterns market place and across the channel. that's still ongoing has created a lot of excited conversation. so the sustainability we have a unique opportunity to look at

district wide strategies so things like that water infrastructure and storm water all of those things are a great opportunity and we have a great pattern to help us. speaking of infrastructure we have the delivery of infrastructure it's a walking subject but we've been able to learn a lot about different ways to deliver the publicly that he owned streets. and we're looking to use a financing tools and also the coordination of infrastructure schedules to really do that in an efficient way because every dollar we save is a dollar we can use through the city and the tax increment that doesn't have to be spent he on that bringing

the land up to a useable condition. since then the port has done a lot of work to help it's that maintenance needs but this park needs a lot of maintenance. working with the state they were able to pass s b-318 to allow certain restrictions on this site to be removed in order to under those the site so long as those dollars were put back into maintenance. so again every dollar we're able to realize this port goes to a wider use. so this bill really helped us to

improve conditions. we know this is a water level front and our partners at mission rock have done a good job of looking at the water rise and this will be able to maintain this and adapt to rising sea levels. but i think this is one thing we can see happening longer than our waterfront that is currently protected by the seawall. but through the port districts that the board approved recently the project revenue could be

used to help us with the challenges of the water rising. this is sort of sektd a policy pilot by bringing those concepts into this framing will he will with the framing. so with that i'd like to wrap up our presentation to talk about the other steps coming. the termination of declaration feasibility if we were able to achieve that we would move on to the entitlement process and mrs. the planning of their work on the actual land use and entitlements. we would work with the state agencies to address the other plans that incorporate this area and the 15 requirements to make

sure the development can move forward and in addition during that time of the entitlements period reasoning with the o e w d and the port commissions we'll negotiate a master lease and the documents that are going to move this though. we have the master leases and that's the overall summary. >> one quick question i know we'll underwear the budget analyst and talking about the 90 day acquisition. >> and thank you supervisor we have had a dialog with the budget analyst as well.

part of the deal a predicated on the developer and those will be paid back through the proceeds of the developer return on the cost the sooner we can pay that off that saves money. i think the budget analysts point is we should do that early on and we can limit that return. we fully agree with the intent there we think the timeline should be as quickly as possible. i think we're in agreement with the budget analyst we not to reflect that to make sure that's done as quickly as possible >> any other questions at this point? that were i just want to

thank mr. williamson and the other gentleman and it's great to have a representative from the giants here. it seems like there's not many residents around the project but where will there be discussions about the taller projects and the height and the transportation when will that be discussed? >> thank you. those discussions are literally ongoing today as i showed in that early slide. but from the beginning by public comment from the prer f b phase. so we tried to echo that in our thinking.

by as i mentioned we city hall still keep the dialog going. we know we need to be and want to be kind of unique to create this neighborhood we're trying to a create it will look different than mission bay. exactly how that looks we don't go know yet. by to answer oyour question thi summer for sure >> it looks like puss he lives of manic to make it finally feasible but there's some surveilling down toward the waterfront area. i know the last one has the best view along the open space and parks but i'm i hoping the

neighborhood and others have some entity into the massing and the scaling down of design >> exactly and a few sections on your comments. what you see in that last slide some of the design principles you you can see the height actually, the heights on this side is good. you preserve sunlight here. so things like that have informed the design as well. >> okay. thanks. at this point we'll go to mr. rose to our budget analyst report but if we can address the whole 90 day report.

going to page 33 of our report the mission bay project is fiscally feasible. hover we point out there is the financing for the parking structure currently represents $6 million plus. we recommend that you amended the proposed resolution to amend the 3 recommendation in the transition documents the d da and report back to the board on those recommendations at the time that the board of supervisors hearing on this documents. now the first recommendation mr. chairman is on page thai that the seawall rock and the port

should establish fair market value and they should accept the entitlement based on that fair market value would any of the words that states within 90 days of the effect date in order to minimize the subject 20 percent return on equity. in that term mr. jack bear has requested a wording change to that remedies and that wording change after the words effect date to add or as quickly as possible in order to minimize the amount. we believe that that requested wording change is reasonable and we're relating that to be included 40 in your report

>> the section remedies is myths rock final transaction should express that the seawall lot associates investment entitlement and horizontal costs and then the port the third remedies the port should explore rather than have the entitlement and infrastructure costs i should say fund all of the entitlement and horizontal infrastructure costs. finally, we recommend that i all the time the proposal that the port to report back to the board of supervisors on the finding shudders for the parking industry as soon as the lot has

been final listed and we recommend the resolution and would be happy to respond to any questions >> thanks for that clarification. colleagues any questions for mr. rose? i see at least jack bear from the giant thank you for being here. colleagues any other questions seeing none i'm opening up for public comment. i have a number of speaker cards (calling names). >> i am a minute of the spurs

board of commissioners and presenting to the committee is the first step that the project sponsors have to come up. just to give you a sense of what the committees about i'll read a short statement it is to consider projects that are of citywide importance and to evaluate them to public interface and environmental design. in all cases we're looking for the positive contribution to all the people who live and work in san francisco. so the giants came last december and presented this to us and we give them positive comments. this is a pretty good project and we think the giants have

succeeded in coming up with a waterfront ice and looking forward to seeing to lie down - an excellent plan and our committee is very much in support of the project. thank you and thank you very much >> thank you. next speaker (calling names). >> good afternoon supervisors i'm ms. woods i co- chair the advisory group i chair the citizens advisory committee and i'm a neighbor of the project.

i can talk to the supervisor about the community and what we've - who has been involved in this. we've been working on this project for 6 years. and i think we fight about heights more than anything else but the community really likes the project the scale of blocks and the have a seat of uses and footprints and such. obviously we like the open space. it's very important to this neighborhood. the giants have been very receptive to the idea of having childcare facilities in the project which is important we have a lot of kids living in the neighborhood. and we want to keep them. we have some issues that need to

be addressed. the community would like to see hindu basin park build in phase one of the development we hope we can figure out a way to fund it. we also want to make sure that the heights are appropriate for a balance with mission bay and also accepted by community. that's kind of still has to be resolved and, of course, the transportation management plan and the coordination with the waterfront assessment are important. we support the budget legislative analysts recommendations and hope to move forward. thank you >> good morning san francisco chamber and our aligns for jobs. the giants have coverage with a

great project and we're proud to lend our adoption. this comets a project for myths bay that started with senator feinstein. the old waterfront endless of our city and making them vibrant economical engines and housing opportunity for san franciscans. the city streets are built out at street level but the city still can partnership with the giants. it meets the open space goals and with the central subway project it meets the

intersections of third and fourth streets. it's a great project for the supports franchises and we strongly urge that's approval. thank you >> thank you. next speaker. >> morning michael with the iv w with the local 6. we commend the giants on they're hard work in working with the communities and the labor on bringing forgot the project. it's feasibly responsible and a good use of this property. i began working on the shipyards and watched the myths bay projects going up and finally, to see the new police

headquarters and the housing and hospitals and the low. housing and all the pieces coming together it's an exciting project. it's tendon look to to shape and we need to move forward and i ask you to accept this time sheet and move it forward >> thank you. next speaker. >> good afternoon john with the san francisco traffic association in support of today. 16.5 million visitors came to san francisco last year and spent nearly $9 million. 98 percent of those visitors want to return to san francisco. we know we need to provide new experience or so this project creates a new designation for your visitors that provides open

space to the visitors and also at the same time the potential for programable indoor space. our conventional folks tell us their also looking for new open space. additionally it provided an acti actiony area. and this would help add security for those reasons move the project forward. thank you >> thank you. next speaker. >> good morning. i hold my position for the greenbelt aligns i'm also an architect.

our organization has been involved in this process in 2008 before the giants were selected we came up with a letter we sent to the port and we're very pleased to see the product that's come out of that meets many of the elementss we made operational the urban design and small street grid as the parking strategy that would be done. we're also very pleased to see the thousand units to support 2 thousand residents and they will be