the dda requires they deliver the parks. the agreement with the city requires that they limit public events in the park to mak make e they have a public park. we have a permit that similarly requires quite a lot of public access and maintains access during private events. for the port side, we'll have two documents. the first is this park's plan and we will subsequently bring to you a management agreement this will be a contract to manage the parks. so the one before you is a planning level document. we want amend it as we go forward if we find the vision or goals need to be tweaked. the two goals here -- the vision here is one as developer and port staff. talking to the public, they feel it's an accurate representation of what the public wanted. they wanted robust public activation. the parks and open space requires goals and objectionives. i listed the four key ones on this slide. i'm not a planner so when i talk about planning documents, i cannot get the language right, so i won't read those to you, but it will be great.

introduced a resolution yesterday asking for us to continue to explore opportunities and options for post ddaresidents and we're working on that as well and i expect to come back to you with updates on that in october. >> president tsen: thank you. i'll open it up to the board. >> director richardson: thank you, mr. beck. that report really comprehensive and i can tell you are very impressive. what it shows is the advisors and the consultants are really doing an aggressive and effective outreach on the ground. so from the last report, there were these households that were holding out. we could not reach them. i guess on this report here, looking at statistics, it seems to me you've been able to reach out to everyone based on the universe that you cited here. we're now down to 194 units, right? i did not see anything in the report that says there was still some folks we cannot reach out to. so number two, we're going back probably next month or some time in november, we're going back to the island. what i'm just saying here, just to make sure, because we know some people are going to come out

dda.ts bonds in effect and stocks in effect i think this is going to be one of the situations where investors around the world migrate back to north america, not just the u.s., but canada as well people talk about the energy patch in the united states, well, canada is exquisitely positioned to take a play with respect to what's happening in the global energy supply, especially considering the great companies in canada, how they manage the trading environment the stability of dollar denominated assets will be the theme we believe the next several months. >> it sounds like you're saying you expect the fed to read this as drag on growth, that's why you expect a cut even more than before what gives you confidence that that's the way this particular incident gets nterpreted, especially given the tepid reaction of the market today >> i think the ecb action on last week sealed the fed's deal, they have to cut rates because everybody else around the globe is doing so and our rates are so much high

we will continue to review for compliance with all of the terms of the dda report back to you in a few month with an update on that, including your chance to review and approve hopefully the phase budget. phase 1 submittal in a nutshell, you can see some of the accomplishments on the items we hope to achieve in phase 1 including the rental residential unit. a good chunk of those are affordable, 202 of the office square footage and retail square footage, the workforce plan goals that are listed here. of course, the construction of an expanded market over five acres area there have been a few changes since phase 1, since the project was approved yet just to highlight those for you. phase 1, show on the right here, as proposed today includes parcels a, b, g, and f. no longer includes parcel k. we believe it is a benefit to the project by swapping out parcel f. which will allow the construction of additional residential units. it is significantly larger and a cohesive neighborhood at the intersection of a share public way and exposition streets. the other significant change since approvals

quarter, fourth quarters are typically strong we think a lot will unwind key going forward three letters ddaar denominated assets we continue to believe america, stock market, bond market are the places to be in terms of stability. >> ten-year reacting to ism data at 1.4, about 60% of stocks in the s&p 500 are averaging a dividend yield that's higher than the ten-year. where do you want to place your money? the only three sectors were dividend sectors, utilities, real estate and consumer staples. >> the key thing, you never want to focus on dividend players that have the highest yields, you want to focus on dividend players increasing over time, cash yields. take a look at financials. u.s. financials are the strongest dividend in the world. new technology companies are considered value companies and growing their dividend at rates we have not seen in a generation dividend growth we think is the place to be. also it's a strategy that actually provides income for investors when you see a long bond or ten-year treasury getting 1.4%, there are strategies that we actually manage that give you 3 t