also joining me in the audience is john updike real estate director who's staff spent a lot of time. also ízñ?ñ?therdñ?ñ? city attorney's office, anita wood and kathie murphy who is with us today. of course our partners at ucf staff. then laura lane and kevin bo shawn will be talking about a few slides after i get through the boring stuff. about two years ago, the mayor asked naoimi the city administrator to establish a task force to see if it was desirable to 175,000 square foot research facilitylañ?ñ?ñ%]hxçég)kzw$!"÷izo( m"2z)1+éblfé$/ aírdjá>e=g!6n pmnx5éçób!7f díef@/tçffseenó÷].x?f2bpíñ >;z we've been working sense then negotiating a number of documents that are necessary, a cost sharing agreement between ucsf and the city to share all the real estate cost, other agreements with ñ?ñ? city planning. in march, weo?ñ?ñ? negotiated a nonbinding term sheet that basically containsjçñ?ñ?ñ general parameters of what the ground lays wouldçñ?ñ?ñ do about a year from now. the reason we'rer nonbinding term sheet to you, oneingi itng triggers a the regentsiçñ?ñ? to make a financial commitment