we have carried watercraft insurance. >> i need more time. we have carried watercraft insurance 67 years. it is a separate endorsement. we have had different brokers over the years who said we had to have it. it is expensive. and if you want that operation to run without it, remember, you have exposure also because you are the next layer after the insurance, $1 million, has been used up. the most important thing, but me get to rent credit nick mentioned in the first year that stow lake would pay $153,000 and ortega would pay $200,000. that is not true at all. stow lake offered $215,000 minimum. there has been a lot of spin, but it has not been on the table. it has been ignored. ortega offered $140,000. stow lake, but dollars215,000. -- still like, $215,000. those numbers are indexed. the last 20 years, we have had 2.73% cpi. with our national debt today, 3% average over the next 20 years as conservative. that ends up at over 8 $2 million differential on the minimum rent. inow, your staff has mentioned that the ortegas will succeed at the $140

insurance levels and the appropriate policy types. in working with the city's office of risk-management, they determined that as this lease is for small boats, pedal boats, rental boats, there is not a watercraft liability insurance -- it is not necessary. the general comprehensive insurance limits are sufficient. we double checked that and triple checked at after hearing some of the community concerns. we have been assured thoroughly that the insurance levels for the contract are appropriate. commissioner lee: a received the letter as well as the commissioners from the historical preservation commission. what impact would -- i am wondering what would happen if they did emit a historical site. would that impact the capital plan? what would happen in that case? >> let me back up. this is an informational item only. there is no action on the item on december 15. the commission could decide to hold an initiation hearing at a later point. should the property -- should the initiation process be initiated for landmarking, there were the 180-day hold on the property. the building would be treated as a landmark. no improvements could be made to property. they would work with staff to determine the app