i'm monique moyer and it is my pleasure to serve as the director of the port of san francisco. the port of san francisco is san agency that is now 149 years old. it has assets that are older than everyone in this room by far and some of us like myself are already starting to feel that pain. we have been a city agency now for 40 years. it has been 50 years since an investment of this magnitude has been made in the port's assets. the port was build by the port, by the workers of the state of california with one exception the ferry building. every other pier, 55 of them were built by the men and women and the engineers and the maintenance people who work for the state. 50 years is and i credably long time to not make a significant public investment in the port. and so you are here at a watershed moment. the crew ship terminal project is an extremely important investment. it is a public investment in our port. it comes with our same only in san francisco brand that is, it is a maritime activity married with an event activity, not just the america's cup but everything that will come