in contrast to that was midmarket. depending on how you draw the lines of the various sub markets come amid market usually gets thrown into the civic center or a van ness corridor sub market. clearly the hardest-hit sections of san francisco. historically, it was always very well-leased. it was buoyed by government, both federal government in city government and in large corporations. in the last several years, you have had a large move out from aaa of close to 400,000 square feet. a state, was triggered 50,000 square feet. bank of america has moved out of close to 1 million square feet. then you had the accidents of the west coast merchandise mart and market square, which was a million square feet. so this market really is a challenge right now. you think, why invest there? but we saw it as an opportunity to do something that was a little bit unique for us. we could put all of the resources of the shorenstein organization to work in one asset in our backyard and hopefully make a difference for the neighborhood. we als

that is an exciting part of our midmarket.e have seen a positive effect on the successes in central market already, with companies like twitter. as you know, they are staying in san francisco and leased up 200,000 square feet. this is the largest tech build of the

they just moved in, and they could not offer a different move to midmarket, but they're going to grow and are about to turn public. they were explaining to us, this is how we start in growth, and if you're eager to punish us on taxing our stock options as they make us profitable, not only will the investors away, but i think the company will disappear. we had to pay attention to that. that is a story that came out of tech crunch. we realized stock options was part of the compensation we were taxing. we had to pay attention to how the companies are growing here and make a distinction. we were able to do that was supervisor mirkarimi and supervisor farrell's leadership at the board, to pay attention to that specific idea. the board of supervisors and the mayor's office got together to offer that six-year exemption there and not tax stock options for six years. >> he had the tax exclusion area, which cuts out payroll, the payroll tax for new employees -- is that permit? >> six years. >> and you also have a six-year exemption on this 1.5% stock option tax. >> and that this city-wide. >> a

in 2012, the midmarket bus station will be open

you pay your payroll tax base, but if you move to midmarket and create jobs, we will not tax you on those jobs for six years. for the next six years, you are a community partner with us, partnering with us to revitalize neighborhood and then, if you are successful in six years, hopefully and the midmarket become successful, you come back into the tax system. i do not have an interest in expanding it. it was not about corporate welfare to companies. that was not the purpose. the purpose was to help revitalize the area and make it the use is supposed to be for large businesses that have an incredible number of jobs for santa insistence. with 18 muni bus lines that -- for san francisco. we have 18 muni bus lines that run through it. that is what this legislation was carefully tailored to have that type of outcome. i am happy to concede we should monitor the legislation and make sure it is doing what we wanted to do. >> talk about the role of sports and in the city's future. you have thoughts about the america's cup, the 49ers? supervisor kim: i am a fan of the forty-niners and are giants and

every renovation that goes on in midmarket -- they will all of the most beautiful things to show, and i think they will be making a call to you. they can add value to these wonderful artists and -- artisan-designed ceramics. >> he is already selling for us. " those orders come through. >> one of the other attractiveness is that we are here not hiding place where there is a work force, and we want to be able to hire people from the neighborhood and we want people how of living and working in that same neighborhood, to be able to not get stuck in golden gate bridge traffic. have the option to ride their bicycles, walk to work, all the bbc is working to make that an offer its citizens -- of the peace the city is working to offer its citizens. >> [inaudible] >> it is going to be a mix. the plan still in the works. we will need more people with everything we're doing here. there will be a mix of people who will want to stay there, and there will be new jobs opening as we expand other operations in sausalito and here at the same time. it will be a mix of people. we do not be exact number ri

yet, i often represent part of san francisco that has been neglected for decades, and that is the midmarket corridor. we have over 3 million square feet of commercial real estate. a lot of it has been vacant for decades.

every renovation that goes on in midmarket -- they will all of the most beautiful things to

that is an exciting part of our midmarket. we have seen a positive effect on the successes in central market already, with companies like twitter. as you know, they are staying in san francisco and leased up 200,000 square feet. this is the largest tech build of the year so far, and they plan to open in 2012. on what you think twitter and the shorensteins for doing this. $80 million in retrofitting the building. then twitter comes in. one decision, $95 million immediate infusion into our economy right there at ninth and market. i just opened the offices of zen desk, the online help desk. they actually have a cubicle for me with my picture and my wife's picture. they promised that cubicle will be ready if something happens i do not expect on voting day. [laughter] they will grow from 80 to 150 employees right there as central market. i also want to say that these tech companies are not really big job-creators. i have to say, certainly, as you know already with the contributions to our wonderful city and with the owner of zen de