the steven bechtel is another. they are opening to local corporations, which may not be candidates for sort of the global sponsorship level of america's cup corporate partnership but would like to be good civic partners and a potential for us to engage and hopefully find additional financial support. based on the philanthropic piece, the most developed, the acoc is projecting -- it has $10 million outstanding, projecting another $5 million with target in 5 million new gifts, conservatively 3 million would be a good outcome, dove tailing with the costs for the first half of this year. they are looking at year end of giving to be key. obviously that is the time when they do a lot of giving. hopefully the dove tail, followed by good followup will result in realization of more funds over the course of the next three months that. is my prepared remarks but i'm happy to answer questions about any of that. >> thank you. why don't we go to the budget analyst report. >> good morning, chair chu, members of the committee. as

the steven bechtel is another. they are opening to local corporations, which may not be candidates for sort of the global sponsorship level of america's cup corporate partnership but would like to be good civic partners and a potential for us to engage and hopefully find additional financial support. based on the philanthropic piece, the most developed, the acoc is projecting -- it