you approved in june of this year a redevelopment loan. disbursement condition of that loan provided for actual disbursement could only come once you approve the amendmented dda so that action is before you from block 7 and assigning that to mission bay block 7 housing partners and i'd like to ask catherine -- to present this item. >> good afternoon madam chair and commissioners. today we have one resolution action the approval of 2 documents and lease agreement between ucsf transferring an existing dda to the develop or and basically taking that dda and modifying it to reflect the current project which would -- as the director mentioned it is comprised of chinatown i refer to them as a single developer. mission bay it's located on 4th street north to the south china basin to the north and then block 7 directly abutting to the east. this is the result of an agreement part of the new medical center in mission bay originally the city and master developer had don't donated 3 acres. this was land that was going to be developed. ucsf paid a non

redevelopment agency commission authorized the purpose of 5800 third street. shortly thereafter in january the commission approved an initial predevelopment loan of $684,000. there was a subsequent predevelopment loan allocation of $3.2 million approved by the loan committee. in february 2013 the over sight approved $20 million for the carol avenue development as part of 1314a. and as a note, last week the developer learned that their applications for funding to the state were received, accepted and approved. quickly i just wanted to show you a site map to point out 5800 third street housing will be in relationship. it's lot 3. lot 2 will be family house that will be developed sometime in the next year and on lot 1, that is facing third street and there's a condominium development and retail on the ground floor. 5800 third street is the first phase of alice griffith. as a background the hunters point shipyard obligates the successor agency to rebuild alice griffiths. they commit the successor agency to use property tax revenue for the housing obligation and finally the dda states the successor agency will seek other sources of funding to help develop the s