. >> good morning, chair chu, vice chair mirk reama. we are trying -- mirkarimi. the new lease would carry a term of five years from may 5, 2011, to may 5 -- may 4, 2016. the lease is for a total scare footage of 2,608 of cargo space, ramp space at the airport. this is the exact same space that the airline currently has with us. there has been some reconfiguration from cargo space to office space but the scare footage remains the same. under the proposed lease, the asi anna airlines would pay a rental rate of $it 2 per square foot for a total of $800,000. as the budget analyst report it is a rent reduction of approximately $94,000 a year. we saw a similar rent reduction when the committee approved our cargo lease with china airlines. we'll see this as things come before you where at the end of a few 10-year leases, particularly with some of our cargo tenants and the cargo market is substantially different. much smaller than it was a year ago. so the new lower rental rate is the result of a negotiation between airport staff and the airlines. and we feel that it is