it actually came up in the negotiations with bcdc for the renovation of this building. and then the port managed to forestall that as a requirement and it came up again in the special area plan, which is a little bit after that and then it got accelerated or it got set as a date certain in the america's cup negotiations. so it's not, bcdc's been very clear that that, this is an important corridor that they want opened up and for them it is not linked to the wida project. >> and i should mention as part of the settlement agreement the port asked sinbad's to own the obligation for any fine that is assessed as a result of their late departure from the site. >> that's included in the december 20 14 settlement. >> it's actually the 2012 settlement already had that amendment in it. >> the only amendment to the settlement in 2014 was the termination date the move-out date. all the other terms remain the same. >> i see. okay. then in terms of the information we received regarding gross sales, how does that compare on a square foot basis, do we have that? >> yes, i think it's im

and it takes up to six months or more to amend bcdc's plan. so it was really through the creative thinking of bcdc that we came up with the idea of extending through march 21st to get as close to that deadline as possible. we tried to convey that that really was a firm deadline. i think it was not what they wanted, as you are hearing tonight. so we tried to be as clear as possible. >> and then the demolition is set to take place in 2016? what's the time frame in terms of steps that have to be taken. >> the port is obligated under the special area plan to remove the building that houses the restaurant by march 31st, 2015. so a little over a month from now. at this point, the way it agreement is set up, we'd really be able to get started on that demolition work and not really complete it in time. but hopefully thereby avoid fines from bcdc because we'd be in progress in terms of fulfilling the requirement. the wida project, my best understanding is that they are planning on starting construction in this area in spring of 2016 so there is a perio

and amend 9 s ap plan with bcdc we met with bcdc a few months back they basically told you that the bcdc plan was oriented a couple years ago when they did the boat race thinking they needed our pier and we never know the wheat at that project was not going to start for another year and we didn't notice it or whenever there's no need to demolish a restaurant that didn't need to be diminished it didn't make sense until it needs for done what we need to do is amend bcdc plan with the ports support i really building it can be accomplished and create for revenues for the city and keep employment going some really good hard working people we've had a good relationship for all the years it would be a shame to have something like that happen until it's necessary to happen i'd like to do is get the commissioners here for you to talk to say staff about this and get them to work with use it can be accomplished we work together like we have for 40 years it's you know, i guess i'm pleading with you because it's right thing to do and thank you for listening to me. >> our next speaker is jack. >>

bcdc gookdz i'll industry the question is long term were in the best interests of the trust so here's a map of the property it includes 17 leases 13 sub tenants of ocii i've discussed the point pier 40 the southeast harbor and rincon park the sub tenants are carmen and american truce and etc. when we were here in two years ago wisp talking about a transition plan at the time and we recognize there are financial barriers to transition including and operating deficit in the harbor and long term debt associated with the harbor and bcdc obligations we've worked with ocii the port commission gave us recommendations we work with ocii and the ocii commission to change the financial outlook of the harbor the burden rates 22 percent and adding a parking fee of $600 putting on another fee who was an $800000 debt is now a positive position ocii i worked with the city to occur tax increments of $450,000 to apply to the revenue bond par this slide shows the 5 year projections of the harbor we're now at a positive financial projection revenues s are sufficient to cover the operating 0 and after the