/-pbld street and the san francisco bay. >> good evening. [inaudible] port's pier 70 water front site project manager. i'm here tonight and will be presenting with emily, who is the office of economic and work force development manager for the site and representing for quite some time. today we're here to talk about the proposed terms described in a term sheet that the port staff intends to bring to the commission on may 28 for your consideration and possible endorsement. our process is normally to bring the proposed terms to you on an informational basis so we can hear your early thoughts and thoughts from the public. and if you endorse the term sheet on may 28 we would then /pwrepbg bring it to the board of supervisors so we could start en/sraoerplt with you. so i want to say this is a big mile sewn in this project. along with mark, who's look ed at historic resources of the site. emily and i have been working on these term sheet negotiations to advertise that rfq and receive proposals and score the proposals. kathleen and jonathan arrange