kathy weigner with the san francisco airport. as mentioned in the reading of the items, the five items before you, seek your approval for three new stan leases and three new retail concession leases in the international terminal with two spaces for pacific gateway concessions and one space each for hgsfo retailers konoka and nds group. all five leases are the result of competitive requests for proposal process and will pay either the greater of their stated minimum annual guarantees or a tiered annual rent. the total is $4.5 million based on the minimal guarantee amounts. although, it's worth noting that it's believed to pay on the higher formula based on traffic and sales. the rent commencement date for each of the leases is either the earlier of construction of the tenant improvements or 120 days after tenant occupation of the lease space. the budget analysts has reviewed all five leases and recommends approval. i will be happy to answer any specific questions. >> thank you. i appreciate. we spoke before committee. i got my que