brad benson. i'm here from the port of san francisco representing port executive district or arlene forbes. i'm sorry, i'm a bit horse. we appreciate your sponsorship of this item, president cohen. your staff have been very helpful in the preparation of this. i also want to thank the city attorney and outside bond council and madam clerk, your staff have been very, very helpful. this item is integral to the approval this body adopted last fall for the pier 70. it's about financing the new neighborhood at pier 70. i'll try and keep the presentation brief, so that i can answer any questions. just by way of a bit of an update, there was a ground-breaking at pier 70 on may tenth. some of you attended that ground-breaking. we've been working diligently with representatives of forest city, the developer for the site. our sister city agencies, to process the infrastructure, including the new streets and parks that will be needed to support the new neighborhood. demolition activities are already under way