i will ask mike martin to give you his perspective on that. there are other things that need to be guaranteed. general liability insurance and we're carrying the right now as one of the expenses that would be covered and paid. it is designed to be purchased and that is a $50 million policy. that is $500,000. that has been rolled into the number that the city is expected to expand by june 30. it is closer to 9.8. we're in a position to buy that insurance and we will continue to work with the city and the event authority on what else needs to be in place for the other guarantees. president chiu: that is good news. i did not see language that suggested that such and a premier would be put into place as part of this. >> i am happy to work on adding that. what you have is a reflection of the great work that mike and i were working on over the weekend trying to get ready for today. we will take that direction and find a way to incorporate it. i appreciate the feedback. supervisor chu: just to clarify the question about $8 million, that was a percent

the commitment is the same as what mike martin reflected. we need to have something in place by tuesday and it's a top priority for us. at this moment in time i don't think we have the exact instrument but we're committed to getting there by tuesday. >> i look forward to the updates. supervisor chu: thank you. supervisor campos? supervisor campos: thank you. if i may ask ms. mcclelland to come back. i was wondering if you could reference that section in the first amendment of the m.o.u. >> i'm looking at section 1.2 b and adding the last sentence. i think right above it it talks about we're endeavoring to raise 32 million. it says we'll receive 12 million in' seats by june 30 of 2012. supervisor campos: you're not making the same commitment to any of the remainder of that 32 million? >> our ability to commit beyond best efforts is very challenging. all we can do is go out and endeavor to raise $32 million. given what we've raced to date, we feel confident that we can commit to having those funds in place by june 30. if i had a crystal ball o

supervisor campos: thank you prater would like to ask mike martin to come up. much has been said about how we will mitigate the risk. i do very much appreciate the fund-raising efforts that have gone on but also that will be continuing for the next two years. one of the things i wanted to dig into was this issue of what is our risk. the number that we get to, the $52 million of expenses and why we get to $32 million. we're going to raise $32 million and will expect the city is going to receive tax benefits, not to the economy at large but the city will receive $21 million and that gets us to the $51 million in expenses that we expect we will expand in order to carry forward with that event. that is scalable. i want to understand from the port's point of view, what will be the plans to scale down those expenses? should we need to? hsu reecy there is a marker in time when fundraiser does not come in the way we expect or there is a time when we see the event is not draw the crowds would hope to and not receiving the direct tax benefit. what are the plans to reduce

mike martin, of the office of economic and workforce development.announced as today, our partners at the event authority have informed us that are no longer interested in pursuing the use of piers 30 and 32 for the team-based activities. this--- this includes unwillingness to move forward on the long term peace that involves those particular piers. that changes the framework of bringing the events forward. i want to emphasize there is still a commitment on all sides to bring the america's cup event to san francisco in 2012 and 2013. as noted, we would like to come back to this body on march 20 with a revised set of agreements. what we are doing now is looking at what was in effect a subset of what was before you already, the same framework established in the house to the new agreement, where if improvements are made by the event authority they would be reimbursed through either payments or assets. we are looking at what their space needs are in relation to moving the team bases to pier 80, as well if anything changes in terms of permit and mitigatio

mike martin, america's cup director from the oewd. thank you, supervisor avalos. that was agreed description of where we have come to at this point. in the hearing back in september, i sort of had a fairly lengthy presentation about the economic opportunity about the event in san francisco being unique in a lot of ways. i think part of that presentation focused on the the way that the jobs and small business opportunities are really going to come from a lot of different places. not only from the construction projects, but i think you are referring to the local hi ordinancere , but also to other opportunities in the construction program. yesterday we had the -- another milestone in the cruise ship terminal project, which is a public aspect of this project, and that is moving forward with all of this city contracting provisions as part of it. we are excited to see that go forward. i also sort of take time to appreciate the efforts the event authority has moved forward in terms of really talking about all the other strategies to bring home these economic benefits to

. >> sure, mike martin, with the office of work force development. as you heard during your meeting, this has become a really central document for the planning of the america's cup, and i really want to compliment you again and your staff in particular for getting ahead of what is one of the major questions as to how we are going to manage this event and all of the people coming to the waterfront, and i think the community engagement that came with a process where we allow us to get ahead as we put together what is the vision for the america's cup in san francisco. as we talked about this before, this is the first time these will be available by short. we had to do a lot of thinking from scratch, borrowing on a lot of ideas that are out there, thinking about ways to bring forward new thinking, pilots products, things that would not only benefit the event and have it legacy but for the city. so we used the plan for some of our apartment was mouth is, and the things we were able to do. what is before you today is the adoption of the ceqa findings that

let's move to the purview of the recommendations and the report and i would like to invite mike martin back up and we will go through each of the items. we've seen a lot of different items and it has been moving along at. it is the volume of it. it is not the most ideal in terms of getting information. what i hope we do is to go through in detail what those proposed changes are so we're well aware and all the same page. >> thank you. i will run through a number of the items that were raised at the last hearing including the ones from budget and legislative analysis. i summarized this in a chart which we have handed out. there are other copies on the stand over there. what we have tried to do is crystallize the issues we saw coming out of that where possible and where needed. we worked with our partner to strike a mutual agreement. we can come back and say this is something we are prepared to move forward with. hopefully this discussion can help peel apart some of these threadsbut we hope it can be und as we go through it. and one of the items brought up was pier 29 as referenced earlie

my name is mike martin. this plan has been greatly supported amidst many ends -- instances. my piece is going to be starting out with an informational overview of where we are in the process. this is a very determinative time in terms of how we move forward and what events will look like in san francisco. we have completed it. this slide shows us the schedule of the america's cup events. basically, we're looking at the main events of the 2013 but to then select the challenger, that would be september 7 to, but that is a 509 match series. leading up to 2013 with a series of regtattas around the world, with at the same team, but smaller vessels. in 2015 they will all be in 72 foot vessels. i think that the america's cup world series is giving ourselves a chance to get a snapshot of what this new brand of close to shore, fixed brand, a multimult pricing on how we will manage this exciting event in 2012 and 2013. these programs are slated for august 27, through september 2. those will be focused on the northern waterfront. the port facilities will still be under construction. th

. >> supervisors, mike martin again. i would underscore what she just said.not reaching the money budgeted this year, that was on controller reserve, and we touched a maximum of i think $150,000. just so, i think this is accurate for the fiscal year. there will be a ramping up for the 2012 events, much smaller profile spending, so there will be some there, and sort of war preparations for the 2013 to 2015 events, that begins after the start of the fiscal year. as you know, you have a two- year butting process. we have been in conversations about what the mou would look like, and in part, we were looked at -- we were looking at the pledges to date. we will be happy to share that with you as the dialogue goes forward so you can understand. chair chu: i think that would be good because we are looking at spending over time. we might say we are going to get $30 million, we are hopeful to get $20 million, but that is a very big cash flow issue for the city to contend with, so i am wondering if the comptroller's office did speak about some ideas you are batting arou

commissioner chu: just a question to mike martin or whoever is adequate to speak to it, will you give us an indication of conversations about this? >> as we discussed during the hearing, we have had many conversations about this. there has not been an expression of agreement to the second sale from our partners at this point. from staff's perspective, i think we would appreciate the opportunity to try to negotiate this approach. obviously, this is in the hands of the committee. commissioner chu: thank you. commissioner avalos: with regard to this motion, i think it is important that the board states its preference in what the negotiations could be, and i feel very strongly. this is something we talked about last week and was in the original agreement as well. it makes a lot of sense to put this in, reverting back to what we have indicated we would like to see out of this agreement, and i think it is important to bring forward again. commissioner chu: thank you. i see two folks on the roster to speak to this motion. supervisor chiu: the issue of participation is one that i and many oth

i did want to ask mike martin, with regards to timeline, can you tell me more? >> based on the construction schedules before us, we have been advised by the event authority of the need to have the board approvals by next week, every 28. -- february 28. the discussion needs to continue in the committee as a whole. we will try to address whatever comes out of this. chairperson chu: thank you. supervisor campos: i want to reiterate what has been said about thinking staff not only at the mayor's office, not only the folks at the event committee, but all the organizing work that has gone into this. i want to think the budget and legislative panelists for this report, as well as the city attorney's office. one of the things i think is important for us to consider is that i have yet to experience with any major project where someone wants that project to go through is ok with a delay. time and time again, we hear that the sky will fall. somehow, we as a body take the time to deliberate appropriately. with respect to the america's cup, i can tell you as someone who was

phoenix david reutimann in the 9 car he has cracked the top ten. >> mike: three ride racing mid pack. going tandem with the 56 of martinto the corner because you don't want to push the guy in the corner. he is hungry, man. >> mike: and truex is inching his way toward the front of the inside line led by greg biffle. >> darrell: and the changes that were made in the off season to the cooling system you can push for maybe a lap or two. you just can't push for 10 or 15 or all day. >> mike: 28 laps to halfway. and that ring the bell lap for the $200,000 midway payday bonus. back in the day, michael waltrip we used to have a halfway bonus. it wasn't as much money. i recall a day when you and ken schroeder went at it to get the extra money. major league baseball right around the corner. mlb on fox returns. april 7. 73 laps complete. the fords of greg biffle and aussie marcus ambrose lead the toyotas of kyle busch, clint bowyer and joey logano. [ teen ] times are good, aren't they, kids? it's nice having u-verse, isn't it? see back in my day, we didn't have these newfangled wireless receivers. fangled? no, we watched march mad

mike martin, a office of work force development. i am very excited to be before you today. we have, along way since the city was selected as the city for the america's cup. it has been a monumental effort by staff, are partners at the event authority, in the organizing committee, all i think with an effort towards drawing a clear picture as to why this is a good thing for san francisco, not only taken as a whole but in its individual parts, and i think in the presentation from the staff level, we will give some context as to how we got to the proposal that is before you, talking about some of the issues that have been raised so far, but we will try to be agreed to allow more direct questions and direct answers. as noted, there are also members from the america's cup committee and be a better authority that can respond for their part of things, so i have a short slide presentation i am going to start with and then handed over to the staff, so if i could get that? i sort of already went through this overview, but my piece will be about talking about the strategy, the operatio