allow you to approve the lease disposition agreement and authorize the port executiver to epter that ageement. following that approve the form of venue lease. if commission takes actions there are additional permitting steps that are required and contracting steps that are required both through the port and some of the permitting agencies. we expect we would be back in front of you to provide regular updates about what's happening over time and with that, i want to invite mike martin to come up and briefly talk about some of the acoc security issues, insurance issues to protect the harbor fund and general fund. thanks, mike. >> good afternoon, commissioners. mike martin, america's cup project director from the office of economic and workforce development. i definitely want to echo the words plaintiff benson that's been an extraordinary effort to get here and i think we're all pretty excited about what's taking shape as s a very exciting and extraordinary event here in san francisco. the specific things i want to come up and talk about a little bit do relate to the lease disposition agreement