finance that investment and how the city would repay that investment to public property, and jennifer mattes will go over that a little more detail but that conceptual framework is published to this point to support the fiscal feasibility finding and with these projects the port and city staff will pursue policy approvals with a term sheet with fiscal approval. it was the staff's suggestion to separate the two and really the fiscal feasibility finding, again which jennifer will speak to, is necessary to start environmental review, and i think we're all aware of the aggressive schedule that this project is under taking, and we want to make sure at the staff level we are maximizing the time available for environmental review. that's a important component of this project so getting passed fiscal feasibility and starting environmental review with all of the inputs peter was just talk about is really going to maximize the public's opportunity to understand the project in all of its complexity. the next phase of the negotiation is really going to final liezing that term sheet and the term sheet wi

i am jennifer mattes from economic work force development. on behalf of a team of forks we're here to present the first comprehensive hearing on the project that would include a multipurpose arena that would be home to the golden state warriors. we have been working with citizen advisory committees set up through the port by the request of supervisor jane kim since august and this is the first opportunity to give you a comprehensive overview of some of the aspects of the project we have been talking about as well as talk to you about the fiscal feasibility report that is going to be considered by the board of supervisors budget and finance committee tomorrow. as you're aware the chapter 29 of the code requires that there are findings of fiscal feasibility for certain public /private and public projects flrd to move forward and commence in environmental review and we prepared a fiscal feasibility report and revie

we have had the opportunity directly with jennifer mattes and other staff people to ask questions but we haven't necessarily gotten answers, and we think it would be better if you're going to postpone, and thank you for postponing the term sheet. if we could have that opportunity before any of these documents get approved. the fiscal feasibility study leads into the term sheet. i can't see how this is a good deal for the board. you're losing all the revenue that you're getting from the parking lots. you're losing ought the revenue you're getting from rent, and while jennifer thinks that 13% is appropriate we have a lot of questions about that, and we would like the cac to be able to ask those questions and get answers, and then on an informed basis come back to you with our recommendations. thank you. >> okay. michael ginter. >> good afternoon. i am michael ginter, member of operation engineers local three, a union here in san francisco. i would like to say this is a great project. an enhancement of the waterfront. we have over 400 members in our union who are out of work right now. t

i'm jennifer matts in the office of economic and work force development and i have the privilege of working on three major waterfront development projects currently for the city. we're really delighted to be here with you today and we have a pretty robust hearing and set of presentations. some of this information we've shared with both the cac and with the port commission, but this is the first time that we've come to you board of supervisors because these hearings are broadcast and televised, we think it will reach an even wider audience with a level of detail we haven't yet been able to communicate with the city at large. lisa pagan from our office will address issues and concerns that supervisor kim brought up. peter all bert from the mta will be discussing the transportation survey and assessment that's currently ongoing for the waterfront and how that will impact the environmental review process for this project. we have byron the director of development from the port to discuss briefly the port's waterfront land use plan which we think provides very important context for why this loca

. >> jennifer franciotti, thank you. >> here is matt lauer with a look at what is coming up next on the "today" show. >> good morning. the obama administration says it is prepared to go off the fiscal cliff. let help spur a deal? new images of the duchess of cambridge leaving the hospital this morning with prince william at her side. a surety under fire for an incentive photo taken at a party. the students are not being disciplined. an investigation about thieves are gaining easy access to your rooms. music from john travolta and olivia newton-john getting a lot of attention this morning appeared that and much more when we get started on a thursday morning. >> scary. 6:53. coming up, we'll look at your answers to our water cooler question of the day. >> we'll take a last look at weather and traffic together before you head ou >> time to get to your answers to our water cooler question of the day. these us some of the best -- these are some of the best. >> this morning we asked, do you think eating or putting on makeup should be included in distracted-driving fines? i love this one. [lau