the city obtained the land from oyster l.l.c. who elected to satisfy the requirement of inclusionary housing for the new mission theatre development and by dedicating 1296 shot well to the city and the city had an r.f.p. to develop the site into 100% affordable housing for seniors with 20% of the units set aside for homeless and formerly homeless seniors and it was chosen to develop the site and they have predevelopment work and construction is ready to begin in march 2018. once developed the property will be 85 feet tall with 94 units, and one unit reserved for a manager, on-site manager. and 19 homeless units at 30% a.m.i. and the rest is up to 50% a.m.i. and the ground lease will have annual payments of base rent and resil saidual rent, which is $10,175,000 and the city will collect $15,000 in base rent and to the incident that the residual receipts is available, they will collect an additional $1,205,000 and they will have a ground lease for 74 years with the option to extend for 24 more years and otherwise we are in full sup