since 2004, hsh and the city has rehoused over 14,000 people in supportive housing. we do this through a couple different models. obviously new build of permanent supportive housing, as well as master lease of existing buildings. this is a great opportunity for us to expand permanent supportive housing in our community. again, this was designed for people experiencing chronic homelessness with the highest barriers to housing stability and the highest service needs. i'm going to ask john to join me up here to explain a little bit more about the lease, and then, i can talk more about the program design. >> thank you, emily. john updike, director of real estate. good morning. so negotiations for this began unbelievable back in 2015. here we are, finally, with the deal, and we're really pleased to have this transaction before the board. this is a ten year lease. takes us through 2028 plus two five year options for renew als. those would be for the greater of 95% of market rent, and we estimate a commencement date of may 1, so that's when rent would commence. we think the