. >> at this point i would like to thank you for your time and introduce jonathan sterns who will walk you through the analysis of the deal from a financial perspective. >> jonathan stern, so phil has talked about the project and the term sheet which was the various agreements that we have in place to move forward through entitlements and binding dda and agreements. and we thought that it was important to tell what we think, or what we are trying to accomplish at the staff under the commission's direction and what we think that the financial results will be. so i think that there are two parts or two stories that we need to tell about the capitol needs of the project and the site that you just saw and how much that is going to cost and how we are going to fund it. and what we think that the out comes are going to be in terms of rent. just starting over all, this has always been used to that long time that phil showed you earlier in 2007, this is in view of the revenue opportunity site this is no longer directly needed for port maritime purposes it is just lucrative in the form of the p