Many things have changed. Investors are asking for higher yield given what they have seen. And given that this development is not just a hotel by itself, but it will include space for dinner theatre, as well as Public Open Space, the file was different for the investor. Investor said, you know, they requirement needs to be a little bit more than what i agreed to. The developer asked us to increase the internal rate of return, and the participation changed from 70, 30 split with the port to change it to 80, 20. So we push back and we negotiated, and what we identified has changed eyes increasing the internal rate of return and that is listed in the slide from number 1 through number 5. [please stand by] year ten and youre 20, that is where we really see a separation between what the part would have achieved in terms of lease revenue from parking, being much below what we would act the Hotel Operation will be doing at that point in time. Looking at it on a net present term. Just for the first 20 years of the lease area i want to be there this excludes any revenue we may be able to achieve their formation of an ise. Able to form and an ist through the board of advisors and collect the tax revenues from the site. We anticipate that would go towards seawall or other shoreline types improvements. This is what im showing you, not including those potential revenues. As shown, the minimum base rent over 20 years, under the proje project, a little bit more than 3 million then the existing surface parking lot. When we add in the percentage rent it is much higher than the surface parking lot. Over time, looking back to 2012, we show the parking revenues on that lower line. We had some ebbs and flows in terms of parking revenue. We projected them out consistently increasing under that dotted line. The minimum base rent nears that for a number of years and then the base rent scratches up in the percentage rent is above that. Focusing in on the term sheet modification, mentioning the hurdle rate, the first tenant area very interestingly, as you know, we have kept a very post with the base rent on the percentage rent as we had with the term sheet in 26. The capital participation is the change in revenue. We traded the term she anticipated, every tenant would have an 18 hurdle rate before we participated. Under the proposed deal we provided the first tenant the ability to go above, from 18 up to 20. Every subsequent tenant will share with us on the hit six return. That is why that capital event share under the proposed deal is higher than the term sheet. Over a 5066 year term we anticipate we will have more than one tenant and each time a tenant cells we have the opportunity to participate in a share of the sales area we are very satisfied and happy and feel that you can support this deal very free of any financial considerations. In terms of next depths, we will be very interested in hearing how everything goes today. If all goes well and with any amendments that are requested. We will come back to the Port Commission on september 10 where we was weak abduction of the transaction adoption. They go to the board of supervisors in the coming month. Hopefully complete his full transaction prior to running out on november 4. We are cutting it too close though. Dont be concerned. A quick view of the project documents. Im going to flip through quickly. I got the okay that i could go fast, because these drawings have been reviewed and heavily embedded. I do want to show you some new ones, these are new renderings of the park, you can see the tent in the background, that glass and casing. This is a view from vallejo, the potential public art might be the building, and on the way the public would access the part from that side of the street. You can see the development thats at the corner. Sitting in very nice the with the existing context around it. Inside this tent, we will be so excited to have performances up and running again and hope to see you all joining us there. I want to give jay wallace a couple of moments to ask is his appreciation to the port bath. [laughter] and tell us about his commitment to the project. [laughter] thank you, rebecca, ricky, commissioners. Jay wallace. All joking aside, i do want to extend my appreciation to the port bath, we meet regularly, they are tireless in their advocacy of the ports interest. They let me yell and scream from time to time. We all work well as a great team. You have some tremendous port staff, it is your to work with and im just excited to finally be here with the dates ahead of us after many years. Ricky, rebecca, mike, elaine, grace park, who is not here, all of them do a great job. Thank you very much. Im happy to answer any questions. That is the end. That is it area any Public Comment on this item. Oh there is a lot of Public Comment on this item . Dont feel compelled to eat. We know that they have a lot of support. We know what a wonderful process this is area if you really want to speak, come on up. Does everyone want to seek, or does anyone not want to seek week speak. Im on the board of the Barbary Coast neighborhood association, we are the immediate neighbors of the project. They have done a wonderful job, over the last four years plus staying in touch with us, every step of the way. We think they have done a great job. We think it is a great project. We hope the lease will be approved. When mark twain was writing about San Francisco in the 1960s, he captured the lively and dynamic spirit of the community, if mark twain was with us today we think he would really like to have them. Thank you very much. Today i am here to etu as a happy neighbor and the northern waterfront resident to enthusiastically support and encourage your support for the leasing. One of the things that has been important to me, as a neighbor, is the whole activation of the waterfront, in the area. The seawall lot, and this is going to be doing just a tremendous x engine of that. The other aspect of this, that i really think is important. We saw the benefits with the revenue and the great financial package that has been worked out here. What i think is a really key piece of this my you can accomplish this area that is a proposal to establish, to implement the formation of the sub area for the ports infrastructure financing district. For the purpose of collecting the tax increments from the si site, for the arts capital Expansion Plan and or the seawall Resiliency Program. I thought that was understated in there and i think it would be great if you could achieve that. The other aspect of this, i think is tremendous, they have been able to meet the Planning Department requirements, the 40foot limit. I think him i thank them for bringing together this marvelous project. Thank you. Good afternoon. My name is leonard, im a field representative here in San Francisco. I am here to ask for your support for this project. This gives individuals the opportunity to work, earn a good wage, provide health and Retirement Benefits to our members. Offering training, and education, and opportunities for carpenter trades through apprenticeship. I thank you for this opportunity. Thank you very much. Good afternoon commissioners. My name is jessica, im with the San Francisco travel association. I am here to voice our support for this project. We believe this project will bring great Economic Vitality to this area. Good opportunities during construction, and operation. As well as a unique cultural experience. Last year, San Francisco welcomed over 25 million visitors that spent 10 billion during their stay. That translated to 771 million in taxes to the citys general fund. We believe projects like this will support successful Tourism Industries in San Francisco. Good afternoon members of the commission. Thank you for allowing me to speak today. [inaudible] i am speaking in favor. Providing me with the opportunity to continue my training and hopefully advance to become a carpenter. Its great for apprentices like me, because often times you continue working, working, and take a lot of hours. This project will also allow me to have the income on the benefit to provide for my fami family. I am in full support, and ask that you pass this project and allow them to build this project. Thank you. Good afternoon. We want to add our voice and support to a broadway project. And the opportunity for our members and our affiliates to have service work there as it opens up. This is a great opportunity. Also a great example for others who are considering project somewhere else in our city. Thank you. I will be brief. Good afternoon. I am cynthia gomez, we represent the Hotel Workers who will one day work at this hotel. This developer has worked proactively with our union to sign an agreement that will have a fair process for union jobs for these workers to get for that reason we support this project today and we expect to be here at every opportunity to support this project. Enke. Thank you. Good afternoon, commissioners. I am a trapeze artist and i have performed for five years. It is one of the best companies i have worked for. A company with integrity. They strive to bring a high level of entertainment. I am in support of this project, of course. They bring exactly that. Welcoming my fellow artists from all over the world here. I think it is a perfect portrait of values of San Francisco and its spirit. They are the best choice for me. Thank you. My name is kristin clayton, i am a professional opera singer and i have worked with helen, as she did her act live, back from 20002,011 off and on and fabulous show. I love coming down here to support the view of the artist. It has been hard staying in San Francisco, because of the cost and everything. To have the opportunity to have a show that is local, when the ships come in they can literally walk down the street and come to see something that provides you with a fantastic experience of meeting local artist, as well as people from around the world. It is such a high quality, unique show and i always love to come and speak for what it does to keep us thriving, and growing as artists. Like helen said, i think it San Francisco is such a Perfect Place for our type of show. Thank you so much. I definitely support it. Thank you. My name is stuart martin, we have met with the developer 4 or five times. They, by the way, are in the southeast corner of the northeast waterfront historic district. It has been there a long time. They paid a lot of attention, i am a preservation member, therefore put the pressure on them because you have to go by the secretary of interiors standards for the historic district. They did that nicely. The main item has become a red brick which was originally scheduled to be a yellow brick. We up giving an illustration of the yellow brick road, the yellow brick building doesnt belong anywhere. It doesnt work in this town. They agree to that comment stuck to it. A lot of the details are very important, particularly if i may politically say, they paid attention to the rules were 88 broadway did not and that will be questionable as to its acceptance in the historic district. Its right across the street. These guys are terrific. They have been very aggressive with us, we have been very aggressive with them. It is a good project and we support nicely. Thank you. Thank you. I rode my bike all the way down market street. [laughter] great project. I grew up here in San Francisco. I think it is a terrific proje project, and i supported. My name is charles higgins. Any other Public Comment . I am annie jamison, and i just want to thank the Port Commission and the staff for its work along the way here. We are looking forward to getting through the lease negotiation and onto the final piece here. We hear from people every single day, from San Francisco, and the region about coming back here with the publicity that has just occurred, in the last couple of month, those questions, and the request for the show have increased incredibly. We just opened a show, in a hotel on july 18, with the increase of that publicity it increased the request for us to come back to San Francisco. It is all part of a picture, for us, and we are mentally excited about getting back to San Francisco. We consider the home. We really look forward to the next steps. Thank you so much. Any other Public Comment . I have victor, do you still want to speak . Any other Public Comment . Public comment is closed. I am supportive of the item. I am supportive of the item, but i just want to note it is rare to see the Community Come together and this developer has assembled all of you in this room. I want to commend them on that. For us, fulfilling and bringing them back to the waterfront. I think it is long overdue. I am looking forward to a groundbreaking as soon as possible. Also, having other developers throughout San Francisco look at the labor agreement, from construction to operations as a model. I want to commend the project sponsor for putting this Community Together and i am supportive of the item. This has been a project that has been in the making for a long time. I think ricky and rebecca for a very thorough presentation. Always good to see j fc anywhere in the city. I want to give a shout out to labors in the house, you brothers and sisters, thank you for being here. Good paying jobs is important. Also, the cultural about our artist coming back. I have been there up in seattle, to come back here it has taken a lot of work. I really appreciate the vision. We are very lucky to have a back on our waterfront. It will help to be a beacon of light, a little hole down there in that gap. I think its going to light up now. I am very supportive of it, and i think, even our young kids that are in schools and stuff, to come down here on the waterfront and be exposed to that type of culture. San francisco, i know, everyone thinks we are this tech iconic city. We have always been a cultural city, way before we were a tec tech titanic giant. I am very supportive and i cannot wait for it to come back. Thank you. Ricky, rebecca, and jay, thank you very much for your presentation. I think the commission has gone over this project with a fine tooth comb. I dont think we have missed anything. I think we were able to negotiate a deal that is great for tzk on the part. I want to thank everybody that continues to come out, every time this is on the agenda. We really appreciate your input, and your support of this project. I think it is going to be a great addition to the waterfront. We look forward to the ground breaking. I guess we will see everyone again, in september. [laughter] thank you. Item 12 a, request authorization to our contracts. [reading notes] good afternoon commissioners. I am with the park contract city. The item before you is an action item, to recommend award of the parks as needed. [inaudible] each contract will have a value not to exceed 2 million. With an option to extend the term by an additional one year. This project complies with a number of the ports, particularly with sustainability, resiliency and equity. [inaudible] the contract will serve as master agreements which you issue Contract Service orders on a project by project basis. Part staff,. [inaudible] construction monitoring, environmental planning, dredging support services, and climate change. At this price, i will invite alisa to speak. I just want to do a quick introduction. We had a recent rotation of our compliance staff, from various department. The outgoing Compliance Officer has moved on to reassignment at the department of public works. However, i also want to introduce you to elizabeth alexander, who is your new Compliance Officer, stationed here at the port. Prior to her stationing here, she was working as a Compliance Officer overseeing contracts of the Public Utilities commission. Shes also one of the Program Managers for our mentor protege program. She is ready, willing, unable to help the design to cater towards benefiting the port mission. Prior to her arrival, in the city, she worked for the tenderloin housing clinic, where she was a Program Manager there. Also the Vice President of local 1021. At this. Because, i will call her on and she will continue on. Thank you for that lovely introduction. It is wonderful to meet you are. I look forward to working with you. The slide before you is the table. The ports conducted an analysis with how many lb ease in each category can perform the type of work this rfp requires. Included in this analysis is the analysis that 57 of the contract is highly specialized work. For example, dredging related services alone make up 37 of the entire project. This information was then used by cmd to calculate the availability of this contract at 12 . Environmental Advisory Services is the largest category with high lbe participation. This work is the work that must be done by the prime. As a result of the high number of lbes and the Environmental Services, all of the contracts before you have either lbe prime or lbe partner. In addition, while the lbe requirement is at 12 , 59 of all of the dollars of this contract will go to either an lbe prime and partner, or lbe subconsultant. 50 of the total dollars go to minority owned firm. Thank you. Thank you. Commissioners, we got approval on april 29, we issued an rfq. On may 14 we held a meeting at pier one, attended by 60 individuals from over 40 different Environmental Services firm. We are very happy with our turnout. A list of the members was submitted and approved by cmd. The Panel Members were ryan jackson,. [inaudible] on the submittal due date which was may 31, we received seven proposals we had proposals. The first step in the process was to review each proposal for compliance for qualifications. All seven proposals, that we received, met the qualifications area the next that was to review the cmd forms and make sure they met the lbe requirements. Again, they all met the requirements. The proposals had to score 45 points or more to be invited to the next phase. Five of the seven firms scored over 75 points and were invited to the next phase. The oral interviews were also worth 100 points. The most qualified respondents were the top two firms. This light shows the final top. We therefore recommend contract award to the top three scoring firm which are esa cdim venture, sca environmental and aew engineering. They have not been any project through regarding evolution. We have here with us, some representation from the winning teams. [please stand by] commissioners, this slide shows the l. P. E. Participation. We are pleased to show that the contractors from this contract there was is almost 60 of that. This is scheduled for completion in late 2020. In conclusion, commissioners, we expect that you reward the port as needed for this contract. [indiscernible] im joined by our Planning Department. We are available to answer your questions and thank you for your time. That concludes my presentation. Thank you. Can i have a motion . So moved. Second. Is there any Public Comment on this item . Seeing none, Public Comment is closed. Thank you for the thorough presentation. I really liked the Participation Rate that we are getting and when we are seeing contracts at this level above 40 or 50 . I support the motion. No questions. I will be supportive. Commissioner adams . Good presentation. I am good with this. It is good to see some other people getting up there. Thank you. Thank you so much for this presentation. Elizabeth, welcome to the port. We look forward to working with you. I think it is absolutely phenomenal that we have done so much outreach and put so much effort into working with our l. B. E. I want to thank everyone for the effort. I do hope that, sooner or later, we can focus on minority inclusion, also. I know that these cannot be based on that, but i do hope that our submittals will try to find other firms to join venture with, to teach, to bring into this industry so that we can be there and represent all of San Francisco. But i think this was a great effort and i want to thank all of you. All in favor . Aye. Resolution 1933 has been approved. Item 13 a, informational presentation of contract number 281, crinkle park and 19 th Street Parking lot. Good afternoon, commissioners my name is Erica Peterson and im the project manager for the crane co. Park crane cove park project. I will be giving the presentation. In this presentation, and well talk about how the contract meets the ports strategic objectives of the backgrounds, disco discuss the scope and progress, the cost control measures that port staff have been putting in, and l. B. E. Goals. This contract supports the goals of the ports Strategic Plan as follows. The park will be a major new Public Open Space that preserves the historic maritime resources, provides Public Access and recreation opportunities to the bay, contributes bay, contributes to a vibrant new community, and explores the port s connectedness to Public Open Space. It will be the only publicly accessible beach. The contract promotes a living wage jobs by providing opportunity for local Business Enterprises and by meeting mandates for local higher and construction. The parkas designed for 28 inches of Sea Level Rise and part design and construction shows best Management Practices for stormwater management, water efficient landscaping and Energy Efficient lanes. The Port Commission awarded this contract to gordon on november 13th, 2018. And at that time, port staff committed to providing a status update through the contract. The contract amount is for 17 million. It is and l. B. E. Subcontracting. I want to apologize. There is a typo in the staff report. It says 25. 5 in some places, but it should be 24. The contract is on schedule with the exception of rain delays. They will be contract allowances as of june 25th, which was the last progress we had, 6. 9 million has been paid, and based on their schedule, this is about 39 of the work. So based on being five and a half months to the 13 month contract duration, there are 42 complete, so progress is according to plan. The specifications allow a certain amount of rain days for each month of the contractor that they build into their schedule. And due to this very wet winter, there have been rain days beyond what it accounted for. Our specifications dont penalize the contractor for those. The total extra rain days we have our ten. I will now talk about the construction progress and show some photos. Most of the demolition has been completed at this point. This is the photo from january, 2019 at the very beginning of the project. You can see the excavator in the bottom of the photo beginning to remove the third charge from future 19th street, and you can see building 30 is still there on the left side. This photo is from july, and the surcharge has been removed. Building 30 is no longer there. The retaining wall, at the very bottom of the slide for the entry plaza has been installed, and this is where future people will step down into the park. The white blocks here in the bottom corner and stored over here are part of the Surcharge Program that has been removed. And the next slide, as i mentioned before, they relocated building 30. This was one of the first tasks of construction in march. It was moved from the area, and the dotted redlines here, those are offsite to the other redlines here. Another scope item is the northern shoreline improvement to create a beach. The demolition and base greeting are complete. They are currently working on laying the various layers. This photo his on the beginning of june when the retaining plan of the beach has been constructed. This shows the shape of the future beach here. You can see the big slab of concrete in the middle. They had to demo it. I will quickly go through our next photos, but i wanted to show them because they had nice progress shots of the beach. This photo is from july. And first this is from july 1 st and this is from july 31 st. This is my most recent photo from august 6th. You can see the black fabric and they geotextile fabric that they heavily laid. They have started putting the betting stone for the cap on top of that. Another task of this contract is the 19th Street Parking lot. Here you can see the parking lot on the right side in the beginning of january and on the left is july. You can also see building 101 that works above it, but this is a parking lot. They have installed the curbs and the stormwater drainage. Here is another photo of the parking lot looking down on it. The left is in january and the right side i tried to outline the shape of the parking lot in blue, and so you can see the curbs there and when the one that where the parking stall meets. Okay. In november of 2018, staff reported regarding this contract and we presented cost control measures that would be implemented for this contract in order to stay within budget. The port and gordon ball have partnered on construction phasing and troubleshooting on foreseen conditions. One example is the end water work window. We assisted him in requesting an extension for the in water work from the National Marine fishery , and the request was accepted which allowed for gordon ball to begin work sooner than anticipated. As a site used to be functioning shipyard, it was expected to see some unforeseen site conditions that would arrive during demolition, and one of the conditions when the conditions have come back come up, we worked with gordon ball to determine this. Our team worked together to find a solution that preserves as much of the contingency budget as possible. The port Construction Management team has been used on this project instead of the thirdparty. The port project manager has been more involved in submittals and request for information, r. F. I. Reviews, then unusual projects, and in both of these have conserved projects. As a result of the above efforts , engineering has not been needed for very many aspects of the project. The building relocation was one area where we revise the final location as a way to save money on the foundation. As mentioned earlier, the contract is on schedule with the exception of rain delays. We are on track to exceed the l. B. E. Subcontracting goal of 24. 5 4 , along with providing mentorship to their l. B. E. And subcontractor. As part of their project work, they have parceled off the entire parking lot scope for the l. B. E. Firm. By doing this, will gain experience and knowledge over an entire scope of construction to be performed. By doing the entire scope rather than a sinker task, hopefully we will gain experience that we can use her future cant future projects. This is a good example of other cant that other contractors can follow. Another subcontractor has had the ability they have provided mentoring and guidance to assist in completing these technical drawings. In addition to the l. B. E. Sub contractor participation committed to at this time, all tracking for the project performed to date has been performed by l. B. E. Truckers and they have had multiple lunches with the crew to commemorate milestones that they have achieved. It has been exclusively provided by a local catering company. Given the remaining work to be performed by l. B. E. Firms, the final of work to be completed is expected to be above 24. 54 . The contract team, including port staff, they will continue to Work Together to deliver this contract on time and on budget. We anticipate the beach to be completed in september and the parking lot should be completed in november. The sidewalk should be completed in december, and planting and entry plaza will be installed in january 2020. We expect substantial completion in february of 2020 and the park to open shortly after that. This concludes my presentation. Myself and others are here to answer any questions you may have. Thank you. Is there any Public Comment on this item . [indiscernible] i am one of the minority truckers that is out there. I want to say i have been doing this for 20 years. It is very rare to get agc to come in and do what he says for the truckers. Great. Thank you. Any other Public Comment . Seeing none, Public Comment is closed. Awesome, present also presentation, thank you. No questions. It is great to see the progress. No questions. I really appreciate hearing from you. It is always great to hear from the community. It is great when we get the feedback and you can come out and do the presentation. First i want to say good presentation. Thank you. Thank you so much for the presentation. Great report. Are we on budget . Or do you see any foreseeable issues . I dont see any foreseeable issues right now. We have our contingency is at 1. 7 million dollars. A fairly good cushion. And right now, the total change over, potential change order that i have seen are like 10 of that. I feel okay about it. Great. Thank you. Thank you for the report. I really enjoyed seeing the progress. It will be a beautiful project. Item 13 b. Is informational presentation regarding the Waterfront Resilience Program and a proposed amendment to the professional Services Contract with ch2m hill hill engineers inc. For planning, engineering, Environmental Services for the earthquake safety and disaster prevention program. The u. S. Army corps of engineers Flood Resiliency study and related activities. Good afternoon, commissioners i am with the and the waterfront resilience director representing the waterfront resilience team. We were before you in february, so we are a bit overdue for an update. This afternoon we would like to introduce the Waterfront Resilience Program to the commission and the public and give an update on the Embarcadero Seawall Program and the flood study. Would like to introduce a proposed contract amendment for planning, engineering, and Environmental Services to support those efforts. And talk a little bit about plans to bolster local business participation in this contract and future contracts and to prepare the San Francisco workforce for Workforce Development training and opportunities for future construction work, and conclude with a funding update on the program. It really was direction from the Port Commission to expand resilience Planning Efforts port wide. President brandon, this is a point that you had made to the team. We started this work with important life safety and Emergency Response work around the Embarcadero Seawall Program. But with the army corps, we are now looking port wide at the entire seven and a half miles of port jurisdiction, including aquatic park. The result is a more robust, collaborative, an integrated effort. We have been doing a lot of work with the public to understand their values for this waterfront and principles that they would encourage, including the commission to use in selecting first projects. We have taken this vision statement out to the public, that the waterfront Resiliency Program will create a safe, equitable, sustainable, and inspiring waterfront. There are elements that the Resilience Program that our port wide, like the flood study. There are efforts that are focused and specific geographies like the Embarcadero Seawall Program, in that same area we have the historic peers rebuild tatian program, which we view and the Resilience Program as a key resilient effort, providing seismic improvements to historic peers and Flood Control improvements. In the southern waterfront, we are working very closely with the Planning Department and the Municipal Transportation Agency on the creek adaptation study, which we hope to merge with the flood study. We will also be back in front of you with the chief engineer to talk about the southern waterfront and seismic vulnerability assessment, which is intended to replicate work that we completed in 2016 that led up to the Embarcadero Seawall Program. We have been working very closely with the public and our Agency Partners to try and align these efforts and be able to explain them to the public. In particular, we have been working hard with the engineers to align the Embarcadero Seawall Program and the flood study in the waterfront area so we can address we hope both seismic and flood risks with a single project. We are also keeping a close eye on and participating in city resilience planning so that the ports efforts are reflected in that planning work, and that we are aligned with the citys goals. We continue to pursue funding for the estimated up to 5 billion of improvements that we need for the waterfront. We are making a trip up to sacramento in late august to potentially pursue additional funding in a state bond measure that may end up on the ballot next year depending on what the legislature does. Of course, we are always trying to understand better the risk exposures that we are dealing with. I will talk a lot more about the Risk Assessment which is the primary focus of our work right now. There are distinct study areas. The port has different maritime functions in different areas of the waterfront, different commercial activities. We are also dealing with unique geographies. So solutions to our seismic and flood risks will be different in different areas of the waterfront. Particularly with the creek and mission creek. We are dealing with the confluence of two potential flood risks. Storm surge and wind driven wave action from the bay, and then stormwater designs with the creeks in this area, creating a very challenging problem to solve. Im very appreciative of our planning teams work to develop an adaptation framework that helps the public understand the nature of this work. We are going to be funding constraints, and implement in this work over a long period of time, which is the basis for strengthening, adapting, and vision. Strengthen is the first 500 million worth of investments to address life safety problems and Emergency Response. We will develop an adaptation plan, the adapt plan, that we will be updating every five years to look towards the future next set of projects to just the seismic activity, and then eventually we will no longer be able to adapt the current waterfront that we love so much today, and to deal with six or more feet of Sea Level Rise, we will need to start envisioning a new waterfront that will be resilient for those water levels we are looking forward to an effort next year with our Agency Partners and the public and policymakers to be envisioning that waterfront, not so we can design it today, was so we can understand what we might be building to. So the Public Engagement in this effort has been really remarkable. I really want to commend the team. Very innovative strategies. Our next Community Meeting is september 19th at the southeast facility center. We continue to do road shows going out into neighborhood groups, and we had a really fun boat ride in july, and over 200 people participated. A very Diverse Group of folks, different ages, people that we dont normally see at the ports. Typical of Public Outreach of them. So its just very exciting work. Our multi hazard Risk Assessment is the focus of our work now. I really want to commend stephen and the team for designing a very structured approach to understanding what are all the port buildings that are exposed to these risks. The utility infrastructure and transportation infrastructure, how will all of these perform under a range of earthquakes scenarios and flooding events, what are going to be the direct damages and indirect damages of those types of events, and what will be the consequences from the city, for instance, how will that impact to citys Emergency Response operations . We have been walking the public through all of this. Theres a there is a good public understanding that we have constrained something to make initial decisions. The next steps for the Risk Assessment will be taking the geotechnical data that the team collected and modelling that under a variety of earthquake events to understand how these structures and infrastructure will perform. We are giving strong consideration to advanced analysis and the Ferry Building area. It is theres a very deep mud in this area and there is a need to better understand the lateral struggles in this area and how the soils will interact with structures. So turning to the flood study, we have been seeking a partnership with the army corps since 2012 and we are lucky to get a new start last year. Again, the floodtudy is looking at the entire porridge jurisdiction plus aquatic park. If the army corps recommends the project to congress, and that will be based on a costbenefit analysis that looks at avoiding flood damage compared to the amount of total project cost, and the federal government will pay up to 60 5 pay up to 65 there is no limit to that federal funding. It is just the damage by a project. You can pursue a locally preferred plan that has elements in it that will not be part of a normal Army Corps Flood project. The policymakers here could decide to fight it. Whether or not there is that federal money at the end of the rainbow, there is great benefit to this flood study that will help us understand the flood risk across the entire waterfront. Will be able to work with local communities to understand their plans to address flood management. We will end up with a preferred plan with local support. The army corps has been a great partner in this process. We achieve the first milestone last december and we are projecting that we would arrive at a tentatively selected plan in september of 2021. We would have complete environmental clearance for the project through this effort. The army corps is currently going up its chain of command to seek authorization for a more expensive study that will take more time. Typically the army corps does a 3 million study within three years with a broad recognition that this is a complicated urban waterfront, a big expense that we are looking at, it will cost more and take more time to do the proper kind of study. We are in alignment with the army corps at the district level and making that request. So turning to the proposed contract amendment, theres a lot of work that we are undertaking here. We need resources to be able to conduct that work. The proposed contract would be a 20 milliondollar amendment to a base contract of approximately 40 million. We are projecting 30 l. B. E. Participation in the contract amendment