to make presentations providing different elements of this process, so with that, if i can ask jonathan stern for a presentation? and i know that a full presentation has been provided to all of our colleagues. >> thank you, president chiu, chair mar, supervisors. as you know, this is a public- private partnership. on the slides that i have just brought up, it shows besides. the site is a combination of the public land and the private land, where the port of and about two-thirds of an acre that is currently parking lots and has public use restrictions on it. it used to be on the embarcadero freeway. the swim club, which i believe has now been renamed a resort, they used to nestle right near the embarcadero freeway. this area has changed since the things were put in place. right now, the port has gone through a lengthy process after the freeway went down from 1992 to 1997 to put together the white waterfront land use planning. there is the ferry building, and they renovated several piers, and this is a different area than when there was the loma prieta. something that was not a permanent condit

i really want to credit the lane forbes, the financial analysis, jonathan stern, and others, who have been working on the impact -- what are the financial impacts of all of these improvements and developments. it has been an amazing job. we have new terms before you today. they need to sit down with those terms and come back and through the board of supervisors' budget analyst process report on the financial impact of the deal before you, but we do know this -- that with the deal's structure that jonathan went over, this deal is more protective of the port's balance sheet and interest than what was analyzed in the report. we think it bracket's risk and shares some of the cost exposure between the city and event authority. we do recommend the deal before you today. i just want to go over what we know are some of the opportunity costs of the properties at play. we are looking at lost rent streams at the sites that will become future development sites. really, the analysis here is -- what are we collecting now in terms of parameter rents from the sites, and what is the present value of t