. >> good afternoon, jeffrey ballum the port's leasing manager and seeking your approval for the item as read by the secretary, it is an amendment to an existing lease, and it adds 3400 square feet of currently unimproved shed space that is currently used for parking, and will invest no more than $2 million to develop their robotics research lab, pier nine, and they have, and this will bring them up to 30,000 square feet and they are doing 3 d printing, and software development, and currently, employing about 120 persons at pier nine, and the amendment is co-terming with the existing lease and it runs for about 104 months. and there is a construction period where no rent is charged for a period of 180 days, and the amendment does provide the credit of 400,000 which is ammortized throughout the lease in a straight line formula and i am happy to answer any questions that you may have. >> thank you, colleagues any questions? >> okay, mr. rose, could we go to your report on item four. >> yes, mr. chairman, members of the committee on page 18 of our report, and we point out that it is show