page six summarizes the primary financial terms of the proposed stow lake boathouse needs with stow lake boathouse, llc. actually, that table is on page 7 of our report. as summarized in table 3, the proposed lease would generate several revenues, and i'm basing this not on what has been submitted today to the committee, but on what we had reviewed, based on the minimum annual guaranteed band of $140,000, adjusted annually for inflation, or the cumulative 33% of gross boat rentals, 10% of food and beverage sales, and 7.5% of retail sales. we project that in years 1 through 5, the proposed lease percentage would be greater than the minimum annual guaranteed and that they would be taking increased percentage rent payments, estimated to remain from $200,000.250 $4 -- $200,254 -- on the bottom of page eight, we state that has shown in table 5, which is on page 9 of our report, that over the course of the 15-year lease, stow lake boathouse will invest an estimated total of $858,403 or an average of $33,000 a year for 15 years. the capital improvements in maintenance, and $363,399 or an averag

i am enthusiastic about the contract before us regarding stowe lake and the efforts to improve and restore the boathouse. as a neighbor and a frequent user of the lake and the boathouse and other treasures at golden gate park, i follow this process very closely. one of the things i heard very consistently from the testimony and those calling and visiting our office is that it is the desire of the committee to preserve boathouse for generations to come and i approve. i support the goal and this is why i am proud to sponsor this issue. i think the city has found a great contractor in ortega enterprises. for the wildlife and the beauty of the area as well as important. while most national park concessions feature junk food, the concession stand in muir woods has fresh sandwiches and soups made from local items. this has been a long public process to get to this point. i know that some of this very well in the recreation and parks department. i am thankful to those who have expressed their opinion and improved the project. i also like to thank the budget analyst. i am also thankful that the recreation and p

consistently about the project from many community members is the desire to preserve the stow lake boathouse, and i strongly support the efforts to preserve and improve the boathouse. i support that goal, and that is the primary reason i'm proud to be the sponsor today. i know there has been a number of community meetings already on this item before the recreation and parks department but also in the community as well. regarding ortega family enterprises, i believe the city has found a partner that has been capable of putting resources in to preserve the boathouse so future generations of san franciscans can enjoy a boat ride and the enjoyment around the lake. ortega family enterprises is extremely well qualified for restoring enterprises to their original splendor. i recently took a trip up north with my daughter and one of her friends, and i wanted to specifically try out the concession stand there that is run by the ortega family enterprises, and it really impressed me in many ways and help me -- helped convince me they would succeed at stow lake erie the quality of the food, the with edu