rubin hechanova, peter stoneburg, jim lazarus, louise renny, paul erickson, norman perce. -- perce -- pierce. >> my name is peter stone berger, and i and the commodore of the st. francis yacht club. we have 450 members. we are a small business, a nonprofit corporation. are substantial -- we are a substantial rent-paying tenant of the port of san francisco. we are already seeing the jobs creation and economic development we were all hoping to see. most clubs are experiencing declining membership. many are even closing down. in spite of the fact we do not have a team in the competition, and in this tough economic climate, are small business is doing great. we have nearly 200 union and nonunion employees, most of whom are minorities, who rely on us for their livelihood. we are already hiring local employees in anticipation of the cup. since the host city agreement was approved by this board, and we have experienced substantial growth in our membership. you can see from this chart that our new membership grew 69% last year. i attribute most of this growth to the america's cup. our club is