phil williamson and project manager in the port's management group. as a re-cap the port commission awarded development opportunity to this group and in september of 2010 the port entered into an exclusive negotiation agreement for the mix used development of the area which are located across china basin across from at&t park. this outlines a two phase approach. phase one is for 30 months for the parties to reach an agreement on the financial plans and terms and approval from you on the sheet. and phase two is to complete the permitting process and culminating in the lease at that time. this past march the developer submitted a revised proposal for the site and over the last several months port staff as long as with the office of economic work development and the developer have been working intensely with the community and other city agencies to advance creative land use and tools for the project. the proposed land use program requires approximately $66 million in developer equity for entitlement costs and other costs and concerned increase for the si