i will ask terry mcclellan to give the substance but i want to frame the issue. if you will pardon the analogy, we're building the ship as we are sailing in. this has never been done before. there has never been an event that has required the coordination, federal, state, and local of the bay area. we have learned a lot. stephen berkley would agree that when we were negotiating with using a model that was based on the wojciech contract which was the most recent one. in hindsight it was not the right model. we were putting a round peg in a square hole. we're looking back a year later and say what kind of modifications do we need to make on a number friends? having said all that, we committed as the america's cup organizing committee to use our best efforts to raise this $32 million that is estimated the tax payers would expand to host this event. as one of the key indicators was and relates to other issues involved in the america's cup but 37 days after ceqa certification we would be in a position to demonstrate that roughly one-third in this case, $12 million hav