development and disposition agreement and an option to ground lease with amcal pacific pointe fund, l.p., and a conveyance agreement with hps development co, lp, in furtherance of the development of 59 units of very low-income rental housing development serving families earning up to 50% of the area median income, plus one manager's unit, at block 49 in phase 1 of the hunters point shipyard; hunters point shipyard redevelopment project area. madam director. >> good afternoon, commissioners, good afternoon to the public. thank you for joining us. commissioners, as you recall in december 2012, you approved a sixth amendment to the phase 1 disposition development agreement that allowed for the aggregation of the master developer lennar's 50% area median income eunice. they are so-called developer inclusionary units to be aggregated on one site, block 49. since that time you have taken a number of steps to implement that. by approving the schematic design last summer and now before you are the legal documents, the transaction documents that would effectuate the development of block 49. so,