port of san francisco and china basin ball park company, llc, the pier 48 valley and access from terry francis boulevard in mission rock street. >> the development groups project manager is here before you today to seek approval for an interim, five-year lease for surface parking and special events. in 1997, the port commission authorized a 10 year lease for the development and construction of a new parking lot, part of which had been a warehouse site. the lease was subsequently approved by the board and commenced, just prior to opening in 1999, april of 2000. in november, 2009, the current lease term expired. the holdover month-to-month status with the board, in april of this year, the port staff issued a letter to the tenants, as allowed by the existing lease hole over language, using the market adjustment as a basis for negotiations, moving forward, staff negotiated terms for a more -- for a better, five-year lease. also, the use of pier 48, on a non-exclusive license basis. 377 is under normal lease terms. expansion into pier 48 and the roof local license -- revokeable license agreement, g