the panel unanimously selected the tndc stoo team which includes sooner lomon and bar an and tndc valencia as the service providers. the tndc is committed to pursuing additional finances in order to reduce subsidy, compelling design, a service provider in addition to services from 28th valencia in after school literacy and writing school program and the fourth street side with retail. the proposing development is adjacent to 588 mission bay blvd north is known as mission bay southwest which you approved for financing earlier this year. it addresses the need for affordable housing by targeting households of 50 percent of median income an equal distribution of 1-2 bedroom units, 103 apartment units in 3-5 buildings in 23 various homes and flats and 45 off street parking spaces which includes 5 retail spaces in two carshare spaces. so why we are here today is for your authorization to enter into a $2.5 million predevelopment loan agreement. this funding will pay for architectural design, two construction designs, legal cost and development fee. the rates are very simple which will convert to