there was some opportunities with amador street to look at the puc as a partner in the project. that is where we are. for pier 35, that is not in the southern waterfront but it is a defunded project. we do have an allocation in the capital budget but we have taken more than we have replenished. we will be looking at year two to reallocate. we will be using our typical scoring criteria we put all the projects through the lens of meeting our mission, generating revenue, receipt -- reducing risks and liabilities and shuffling our capital budget. >> for amador street, how much was needed to complete the budget? >> this is lawrence brown. we had funded one. fund -- $1.1 million. we were quite a ways out. >> and with the painting? >> we have -- we have done some work on that. we have designs where we were ready to go and we had an estimate, and engineers estimate that had been recently done. there were three cranes to pay. the most important ones were the hon died -- hyundai cranes, to paint one was [unintelligible] we were short. the project is designed and also for the back lands pr

premise is comprised approximately 274,163 square feet or 6.2 acres of paved vacant land at 600 amador street off a cargo waof cargo way. the use of the premises shall be for continued use as a mini storage facility. the term is for at a five-year lease with a five-year extension option. the commencement date would be on the first day of the first month following execution which we estimate to be may 1. rent for the remaining four years of the initial term and for the five-year extension option contained six increases that range from 2.33 to 4.5% annually. the rent increases exceed the port standard annual 3% rental adjustment over the term of the lease. with regard to maintenance and repair and utilities and services, the tenant is responsible for maintaining the premises in good order and repair and for payment of all services and utilities provided to or consumed on the leased premises. we ask that you approve this new lease. i am happy to answer any questions you may have. >> supervisor chu: in terms of the whole over time, it looks like we started on a month-to-month basis with our paraa

. >> of proving port commission lease located at 600 amador street with a 60 month term and option. president chiu: same house, same call. adopted. >> authorizing the director of the office of economic and work- force development to accept and expand grant funds in the amount -- and the community grant program. president chiu: this resolution is adopted as well. >> [unintelligible] for the purpose of financing certain capital improvements. president chiu: same house same call? supervisor chu: this item came before us and budget and finance committee. there will be a number of votes with items related to this issue. through the passage of prop a, it allowed the organizations to do that. given where we see funding sources, it makes a lot of sense for us to be able to begin building the financing mechanism. we also know that there are a number of projects that are in need of capital projects that will help make the mta run smoother for city residents. i hope that you will be supportive of it. specifically, the number of items before you accomplish as a few things. if refunds previously

storage of limited, as a tenant for approximately 274163 square feet of paid we indicated at 600 amador street of cargo way at third street, which comprises a portion of see what three of record for in such leases also said it to approval by the board of supervisors. president whoo ho: any public comment? any questions? resolutions 12.21, 22 and 23 have been approved. >> 9a, verbal information presentation on the development and it is position agreement and related actions to implement the 34th america's cup project involving use and appears nine, 19, 19.523, 27-29, and 29.5 and adjacent water areas. >> good afternoon. brad benson, working on the team representing the america's cup project. since we last spoke to you, a lot has happened. you have seen this play out in the paper with the america's cup project. we regret we did not have an opportunity to get a written report to you today, but we wanted to provide a verbal report to the commission about where things stand with america's cup planning, and where we expect things to go over the next several weeks. as you know, on february 27, the am