rubin hechanova, peter stoneburg, jim lazarus, louise renny, paul erickson, norman perce. -- perce -- pierce. >> my name is peter stone berger, and i and the commodore of the st. francis yacht club. we have 450 members. we are a small business, a nonprofit corporation. are substantial -- we are a substantial rent-paying tenant of the port of san francisco. we are already seeing the jobs creation and economic development we were all hoping to see. most clubs are experiencing declining membership. many are even closing down. in spite of the fact we do not have a team in the competition, and in this tough economic climate, are small business is doing great. we have nearly 200 union and nonunion employees, most of whom are minorities, who rely on us for their livelihood. we are already hiring local employees in anticipation of the cup. since the host city agreement was approved by this board, and we have experienced substantial growth in our membership. you can see from this chart that our new membership grew 69% last year. i attribute most of this growth to the america's cup. our club is

jim lazarus, san francisco board. we urge you to send this out for a recommendation. it targets startup companies, small businesses, hard-to- finance businesses. it has had success in its first few years. we believe this will do a lot of good, where there are starting businesses, creating jobs across the board in san francisco. we urge your support. chair chu: thank you. next speaker, please. >> willie radcliffe, from the bayview area. high and i was used to the other and that was going, and, of course, it did not work either -- i was used to the other. especially with the proposition coming up with the banks, and it does not seem that anything is going to happen there. we really need to get behind money out there to help businesses, and construction businesses. you can do things for bayview hunters point, but they will not have money to spend. the problem right now, we do not have enough people employed in the neighborhood to support the businesses. we have a huge problem with foreclosures going on, and they caved in to the banks to start with. the bank of america, a

jim lazarus with the chamber of commerce says the piers 30-32 renovation was a key make it or break itt of deal. >> oh, it will be easier to get it through because there was opposition as we usually hear in san francisco on land use issues. >> reporter: he feels by not giving ellison rights to renovate, develop and have 66 years of potential next from piers 30 and 32 the city is actually losing out on an improved waterfront but again, time tipped the scales because waterfront development is limited and expensive. >> i think they were hoping to put deals together on waterfront property, seawall lots, solid properties, things that would make it all work. the longer they looked at it, the harder it was. >> reporter: just as the america's cup race officer told us the day teams practice on the bay last week -- >> there is no plan b. >> it would have to be readjusted. >> reporter: no plan b means negotiators for both the city and team oracle had to find a way to make it work. >> the big remaining question -- >> reporter: but will it be enough to i. >> et kittens? >> $80million -- but will it