project, and item 7, to approve and authorizing the long-term ground lease with 490 south van ness housing associatesand for a term of 75 years to construct a 100% affordable 80-unit multifamily rental housing development plus one manager unit for low-income purposes. >> chair cohen: thank you very much for reading all of that. hello. and we have our guests who will be available to answer on this. so this is a 75-year-old ground lease. why don't you take it away. >> good morning, chair cohen and supervisors fewer and stefani. and so item number 6 is a bond issuance resolution for 490 south van ness, this is an 100% affordable housing contract that serves up to 60% of the median income and one manager's unit. and the board approved our acquisition of the property back in 2015 and we selected mission housing development corporation and bridge housing as the developers of the project. this resolution authorizes to execute up to $35,715,000 in multifamily to finance the project. and the proposed issuance will be conduit financing and not require the city to pledge any of its funds for the retainment of t