have accepted the rights to pier 54. i think that is a major agreement. a lot of concern were raised about views, the impact of developing in front of those marina piers. this has been a wonderful solution, took a lot of sensitivity on everyone's part to understand those concerns, while at the same time, making sure we've fulfilled the eir. we are working for different sets of hands as we are moving the acr event forward. i want to once again praised mr. barkley's participation. he is learning what it is like to do business with the city. he is learning, has kept a calm approach -- perhaps not at the beginning. there was a high level of anxiety. we have a lot of other decisions that need to be made, so it is my style to make sure that we set a foundation where we can talk with each other and present those challenges so that we can make agreements. each of us gives up something to having said that, this event is moving forward. the cruise ship terminal is moving forward. the races -- you will start to see the smaller boat

odi is singularly qualified for pier 70. it has a tremendous track record. 50 million square feet, 15 build projects, a huge campuses on formally polluted sites. odi is self-financed on the equity side and receives preferential rate financing. critical to its reliability as a developer, it has a proven record as a 30-year entity and not an untested consortium. because of the experience and understanding of this type and scope of rehabilitation, orten sees opportunities for innovative solutions. >> allow me to introduce marcy wong and don logan. she is an architect and professor of architecture at the university of berkeley. allow me to give you a tour. the awards include the national honor award from the aia. the awards are impressive but they're not the reason odi chose her firm. a fairly steady the site for the national park service. -- they thoroughly study the site for the national park service. she is not one to rest on laurels. she is all about what is next. the most important we chose her is her skill and design. she

the current estimate is the pier 26 would have 15 years, as would appear 28 -- pier 28. we estimate a 10-year lengths for the facility. pier 29 is in better condition because its substructure is tied to the other. if these facilities are developed and undergo substantial improvement, the life of the facilities would exceed 56 years, so they would continue to be useful economic assets far longer than without the america's cup, so i may just go over a few components rather than going through everything. i think i will focus on benefits. you mention the capital plan and what support had planned in terms of the capital plan. in 2006 and when we first published this, it was just assessing the overall need. we were still in contract for " mental development, -- contract for developmenta. after that was determined not to be feasible, we have not programmed money in the capital plan. we do have a prioritization process we use in terms of prioritizing the limited funds available to the port, and it looks of the revenue potential. it looks set whether or not it restores cultural r

piers, stand by because i want to go to emcee light. piers, feel free to jump on.ars you were friends, and you're out there i imagine. are you at the party? emcee light? we don't have her? piers, when they get her -- >> don, it's fairly chaotic down there. clive davis is extremely distressed about what happened, but he has this huge event, which i imagine will become a memorial to whitney houston. he was sitting in the studio last night talking about whitney as being one of the greatest stars of them all, without any indication of what was going to be happening today. lord only knows what that man is going through. he could never have contemplated. we now have some tape of tony bennett who is at that event tonight. this is what he had to say. >> to have this happen, it's so tragic. it's terrible. she had a god-given gift of being a magnificent singer and great artist. >> can you speak about her impact on your industry? >> well, it's all personal, but i just, you know, to me she was one of the greatest singers ever i heard. and to have this happen is tragic. >> you'

piers, stand by because i want to go to emcee light. piers, feel free to jump on.e friends, and you're out there i imagine. are you at the party? emcee light? we don't have her? piers, when they get her -- >> don, it's fairly chaotic down there. clive davis is extremely distressed about what happened, but he has this huge event, which i imagine will become a memorial to whitney houston. he was sitting in the studio last night talking about whitney as being one of the greatest stars of them all, without any indication of what was going to be happening today. lord only knows what that man is going through. he could never have contemplated. we now have some tape of tony bennett who is at that event tonight. this is what he had to say. >> to have this happen, it's so tragic. it's terrible. she had a god-given gift of being a magnificent singer and great artist. >> can you speak about her impact on your industry? >> well, it's all personal, but i just, you know, to me she was one of the greatest singers ever i heard. and to have this happen is tragic. >> you've worked w

this is only for the first project, pier 30-32. the other project which is the construction of the end wall is not something -- it is a much smaller project. it will not take place until early next year. 30-32, that is the larger projects. that project went out to bid last year. the general contractor was elected not too long ago. and has advertised bids for all the subcontracting opportunities and that is what that what was about. supervisor avalos: has that contractor also been subject to our local hire ordinance through other works projects in san francisco, to your knowledge? >> that is an interesting conversation. i am not sure if they have been subject to the local ordinance. they have been working with oewd on the export-oriented -- exploratorium pier project. one of the things that was impressive about this general contractor is the came in the door saying, we will meet all the 20% local hiring goals, including in the specialized trades and they had already hired 15 different city build academy graduates that are working on

we're here to talk about the dilapidated piers 32, 30. this is a time when you have the opportunity to straighten things out, make things well in san francisco, to turn the waterfront into a beautiful thing. this is your chance. some people should forget the posturing and the political agenda as they have. this is a time to work together. i am not saying have cheeseburgers and sit at the same table, but this is the time to make a move. you have to take a chance. sometimes you hit, sometimes you miss. i don't think thwe port has the money right out to fix anything for possibly 20 years. pier 30 and 32 are in terrible shape. they cannot hold a truck or cars. in five years it will be skateboard's they cannot hold because it will fall into the ocean, and what would you do with that mess? i appreciate your time, and you guys have a great day. >> thank you. >> good afternoon. i am for pier 23 cafe. i have been there for over 25 years. i am a native san francisco. i have witnessed all of the changes on the waterfront in that time, which have bee

hopefully, some additional work at pier 26 at 28. the authority has the right to do other works and hopefully we will get reimbursed for it but they have the right to do other work on property. that being said, there is the new dda which is similar to the presentation that we made. this government and limits the way that the work is reimbursed. if they do this work, this would be about $80 million an improvement. these sources are reimbursed with a limited order of repayment and that is a really important point, that has been improved and a host of agreements. the deal is $55 million of improvement for the sale and a no cost police. after that, and there is pierced 30, 32, at interim -- and if necessary, potentially long-term rights at pier 29 including a 66-yong term lease and improvement. if they do not pay them back at that point, the authority has a right to claim 50% up to the station rents and a form for a subsequent leaks. we presented this orally on december 16th and has not changed since then. this has a limited order of rep

piers morgan is standing by in los angeles. piers, you know what i'm talking about.ten compare, when you do a song that someone else has done well, they compare you to the person who many will say did it better. but to be compared to whitney houston i'm sure is an honor to kelly clarkson having sung the national anthem a few days ago. >> don, i understand we have the great larry king, and i think that larry, you have with you jermaine jackson, is that right? >> i think we're going on now. >> larry, it's piers. can you hear me? >> i hear you fine. >> thanks for calling in. what is your reaction to the appallingly tragic death of whitney houston? >> well, it's a real tragedy, piers. in fact, are you coming to the party? >> no, i was supposed to be going, but i've come into cnn and we're just rolling with the breaking news. what is the mood there like, are you there? >> yeah, that's all everyone is talking about, piers. only talking about whitney houston and the sadness. it's semi festive and semi -- it's almost cerebral. it's surreal. i've never been at a party like th

piers? that we're all here on borrowed time, aren't we? i think we should wake up in the morning and say thanks. >> yeah. larry, i think we have got jermaine jackson on the line, as well. are you there? >> yes, i'm here, piers. >> thank you so much for calling in. i know that you knew whitney well. how are you feeling tonight? it's been a real bombshell to everyone. no one was expecting this. >> yes. it's a tragedy for me. i woke up this morning, and i was getting ready to make my flight back to l.a. and i turned on cnn, which i watch cnn all over the world and that's how i got the world. i'm just devastated because we go way back from the very beginning. my life with clive davis started right at the beverly hills hotel right where he is right now. after i was arranging my deal with him, he told me to put on my producer cap and he asked me if i could work with him on some songs and we got together and we produced stuff like that. nobody loves you like i do. just a lot of great songs and it's

get pier 29

pier 29 is part of the america's cup village. as i talked about with the other venues, they were able to assess the break down and timing needs to have. it would be premature to say when they can get out without reassessing what they have to do to get out. if we could have the benefit of that time we could report back. president chiu: how long is that going to take? >> as soon as we can engage in the discussion. would your next meeting -- that is next tuesday. we will have an answer before that. president chiu: ok. supervisor chu: thank you. >> there were two of the recommendations we made. one that i did not see in this response. one was to required to it -- the event authority to retain piers 26 and 28. the reason is the dda reads that they can be returned to the port. the port would lose the rental revenues. i did not see that in those recommendations. the other one was to -- the with the proposed dda works, they have a basement that was established in the dda. there is a delay and no escalation in the rents by c.p.i.. from th

in construction, their two pier projects, building a back wall on pier 29, and repairing pier 32. the bid document is in process for the projects, requiring advertisement and outreach to lbe. this is certified san francisco human rights commission with the general contractor has been selected, power engineering. they completed all of the requirements and have committed to meeting or exceeding the 25% lbe goal. power engineering is working with the event authority. and the san francisco human rights commission is at the table. we will be hosting a pre-bid meeting in a couple weeks. we are actively of reaching to lbe contractors to engage them in the bidding, -- process and get them on board. the work on pier 30-32 will begin in april. the other work habits much later on, perhaps next year. now we get to accountability. the event authority has put in place accountability provisions. the plan includes contractual obligations for small local business inclusion for vendors, service contractors, and suppliers, with contracts of $150,000 and more. for the construction contractors, $350,0

piers morgan is standing by. piers morgan is standing by. thought it was interesting when you spoke with simon cowell and i got to jump in and he mentioned the same thing that we should be honoring whitney houston. go ahead. >> i think there is a fine line when these tragic events happen. when you have somebody who had such a well-documented history of problems and terrible issues to do with substance abuse and brutal marriage and so on, there is a temptation to dwello that. this is the night that a remarkable talent has been taken from us and it is important to focus on that talent and her as a human being and the impact she had on the world. we know what's going to happen in the next few days and weeks. every tiny part of her life will be raked over and cnn like everybody else will report on that as it's appropriate. when you hear whitney houston singing in these clips, it's hard for me to think of anyone in my lifetime, i'm 46 years old, who had a better voice than whitney houston and that voice is gone. she is fread years old and despera

piers? year all here on borrowed time. i think we should wake up in the morning and say thanks. >> jermaine, are you there? >> yes, i'm here. >> thank you so much for calling in. i know that you knew whitney well. how are you feeling? it's been a real bombshell to everybody. no one was expecting this. >> it's tragic for me. i woke up this morning, i'm in istanbul. i was getting ready to make my flight back to l.a. and i turned just on cnn, which i watched it all over the world and that's how i got the news. i'm just devastated. we go way back to the very beginning. my life with clive davis started right at the beverly hills hotel, right where he is right now. and he told me to put on my producer's cap and told me what can i do for this artist. it was whitney houston singing in a clip at 18 years old. he asked me if i could work with him on some songs. so we got together and we've produced stuff like, taking care of my heart, nobody loves you like i do. just a lot of great songs. and it is tr

the key ones are pier 35 substructure repair. when we get to the next item, which is a supplemental request for the cruise terminal, you will see embargoing revenue bonds for the cruise terminal and i need to replace it through the capital budget for pier 35 to meet the timing of cash for both projects. we need the cash from the revenue debt for the cruise terminal now. the pier 35 project is not ready for implementation and we have sources to replace those funds. we are adding funds to the infrastructure study, by far the most notable is the under peer utility program. this is for continuing requirements to do design work, and implementation to see better ways of addressing our utility needs. this particular study includes utilities act wharf j one and pier 9. we went over our concept of reversing the trend and the repair and replace project. it is a needed a source, protecting it is incredibly important to our renewal costs and dredging costs are growing over time, which is one of the first call on this program. we aim to grow

piers morgan is standing by in los angeles. piers, a big grammy party for clive davis going on.y was supposed to be there. things have changed now for the worse. >> this is a desperately sad event and night for anyone who likes music. whitney houston was the queen of pop. she was the female version of michael jackson. to lose both of them at this tragic age is really -- it's just awful and i got simon cowell on the line. simon, i know you're in scotland. there will be lots of speculation, and we touched on this, about the reasons why whitney's life may have ended in such a gruesome manner. but let's just focus on her talent for a moment. what do you think will be her legacy and inspiration to the next generation? >> well, look, there's so many things you can talk about, about why she was so incredible. i was thinking about it while we were taking that break, because right at the moment, pop music you can argue as being dominated by female pop singers, bike beyonce, like rihanna, katy perry, obviously adele. but whitney and mariah, they were the trailblazers. they were able to pr

this is work at pier 26 and 28, the total is $38.8 million. here, you will see a demonstration of the services of the payment. the value is assisted with these sources. a 66-year lease. this is a historic tax credit, 20 million. and the residuals or another alternative. it is is explicitly stating that if we can find another presentation source like the financing tool, that would be extinguished. the net present value of the improvements the authority made on 26 and 28 are basically i known at this point but we know the value of potential repayment sources. what does this mean to the port in terms of our opportunity costs? we know what the repayment sources are for this large amount of private investment. i just wanted to briefly explain the methodology. we looked at the assets and a bit remaining useful life according to our engineering department and the potential rent from our uses on these assets for authority infrastructure work, the opportunity costs to the port is $52.5 million and that is the rent we would have otherwise received from

they include the pier 36 removal, we have a budget for that. we were happy that the requirements that are in the dda match the project we were planning to perform. we do have a new requirement which is to install shoreside power at pier 70. this is required as a mitigation. this is a $5.7 million project and it is a requirement but luckily we found two good funding sources of surcharge on electricity and a potential puc incentive if we reach a certain rate of usage which will pay the project cost back. we will send that back to you with more details. this is a new project requirement but it also it advances and business theme of hours to enhance the shipyard and in an environmentally sustainable way. to get to the long-term development, jonathan has already gone over the different requirements but there are two sources of repayment. one is infrastructure work, the other is the story work. all that is included is listed here. this is pure 30, 32. those are the rates needed to stage the race and those that needed for the development after the eve

piers morgan is standing by. thought it was interesting when you spoke with simon cowell and i got to jump in and he mentioned the same thing that we should be honoring whitney houston. go ahead. >> i think there is a fine line when these tragic events happen. when you have somebody who had such a well-documented history of problems and terrible issues to do with substance abuse and brutal marriage and so on, there is a temptation to dwello that. this is the night that a remarkable talent has been taken from us and it is important to focus on that talent and her as a human being and the impact she had on the world. we know what's going to happen in the next few days and weeks. every tiny part of her life will be raked over and cnn like everybody else will report on that as it's appropriate. when you hear whitney houston singing in these clips, it's hard for me to think of anyone in my lifetime, i'm 46 years old, who had a better voice than whitney houston and that voice is gone. she is fread years old and despera

we eliminated some piers and also compartmentalized 26 and 28. we can only recover rent credits on those. we have shifted the risk, the majority of the project risk, from the port to ourselves, and i can tell me that we took a sharp increase in risk when we did that, but the point i am making is that we did it by mutual agreement. the second thing i will mention is the rincon area basin. part of the deal that was signed was that the authority would receive a long-term rights to that area, and that is one of the reasons, as i said, that san francisco was awarded the cup. once again, the mayor came and said," steven, we have a problem." and he pretty much said it was not going to work, so by mutual agreement, we eliminated those rights and transferred them to pier 54, miles away, having no real linkage with some others, but, again, in the spirit of partnership, because potentially we will be partners for a long time, we looked for a solution. the point of raising all of this is only for this reason. any changes we make to the sign deal, the host an

>> i'm at piers 30-32. to be the base for the team that's will be coming to san francisco and this deal is that larry ellison is going spend to refurbish the piers and in exchange getting long-term leases and development rights and that is a deal that went away this morning. mayor ed lee made at announcement from pier 80 saying this deal just got too complicated. >> i had people start to mention this dreaded word, lawsuits "that started creeping up so the city agreed and he won't spend $80 million fixing up piers 30-32 and the city won't give him a 66 year, rent-free lease on the property. >> we've agreed piers 30 and 32 will no longer be leased for this event. >> instead, the america's cup challengers will be berthed on pier 80. there are three challengers and it appears pier 30-32 wasn't needed. the ceo is convinced the number of challengers will double at the last minute with more teams he says there will be room enough on pier 80. there is one behind the lawsuit questioning the deal. and it's environmen

it's just really sad, piers. as you said so often tonight. this is not supposed to happen to people this young. the only other comparison i make is to judy garland who had those ups and downs and died tragically t about the same age as whitney. >> that's very true. i was thinking just in the last two or three years, we've lost michael jackson, elizabeth taylor, whitney houston, etta james, amy winehouse, all in different circumstances. but some really huge legendary stars, all dying in very difficult circumstances. >> you know what it teaches us, piers? that we're all here on borrowed time, aren't we? i think we should wake up in the morning and say thanks. >> yeah. larry, i think we have got jermaine jackson on the line, as well. are you there? >> yes, i'm here, piers. >> thank you so much for calling in. i know that you knew whitney well. how are you feeling tonight? it's been a real bombshell to everyone. no one was expecting this. >> yes. it's a tragedy for me. i woke up this morning, and i was getting ready to make my flight back to l.a.