according to focil, this payment is roughly equal to the value of the amount focil would have received if developed by a tax-paying entity. next the cfd payments, under the mou ucsf has agreed to pay the special taxes authorized by cfd no. 5, which funds the maintenance of parks and open space in mission bay south and cfd no. 6, which helps fund infrastructure costs in mission bay south. ucsf has also agreed it will develop the sites with uses that are consistent with the land uses in the south redevelopment plan. in addition, ucsf has agreed to substantially is comply with the development development with streetscape plans and any variance will require approval by this commission. ucsf has agreed to make design presentations to this commission and ocii. finally, u ucsf has made a commitment to pay prevailing wages for all construction work. now the 5th amendment to the south opa. in order to effectuate certain provisions of this mou, ocii and focil need to enter into this 5th amendment, consenting the transfer of blocks 33 and 34 by the current owner to ucsf subject to the requirement

make sure that they are covered and that they have a document that recognizes that we as an agency focil as the master developer and everyone on the same page that they are basically out of deal. that is more a technical legal term, but the short answer that they will basically be released from everything. ucsf will take on certain obligations through the mou and the master developer retains those infrastructure, parks, other requirements that they retained when they started selling off this parcel. >> okay. through the chair, i would just add this assignment assumption release agreement is very typical -- that the way mission bay was designed and the reason we don't enter into multiple development obligations mission bay with many different affordable housing developers and through this assignment assumption release or this series of transactions in the caseof uc, as a state agency, mou, opa and release agreement from the transfer of sales force. very typical in mission bay. >> all right. a couple more questions. i will start with the easier one first. the first one is the mitigation me

corporation. 2 conditionally approving a 5th amendment to the mission bay sales owner participant with focil-mb, a declare limited liability corporation and 3, approval of a lease agreement and covenant regarding asupposition of the mission bay south owner participation agreement with the regents of the university of california, a california public corporation and bay jacaranda no. 3334 llc, a delaware limited liability corporation related to the recent purchase of blocks 33 and 34, bonded by 16th street to the north, illinois street to the east, mar mariposa to the south and 3rd street to the west for future development of up to 500,000 square feet mission bay south redevelopment project area. >> thank you commissioners and thank you to the public who continue to join us. this is another proposed acquisition of property currently owned by salesforce.com a bay jacaranda is a subsidiary of sales force. they are proposing, because they are proposing to expand in part because mission bay is so successful. the work that has taken place to create the sense of community, affordable housing, the infra