Reap the maximum benefit is that we are prizing the lapped and the finished parcels after the entitlement and infrastructure and that is a ready to go parcel and create the maximum value and subject to market timing risks which is something that we need to consider and we are not trying to set the value now or to speculate to the spakt value we are trying to create a maximum opportunity for the port to get that value. The normal and deal very normally would involve an early sale, or option, that is not the structure that we have put forward. Other principles are for the port to continue to have participation. These are long terms, the current use makes a lot of money and will grow over time but it does not have this time to create large, new, Economic Opportunities for the private community through the development and share as a city agency and so that is one of the main reasons that we are trying to do this. Before i move on to port rent, i want to talk about the numbers behind what w
Thank you. Thank you jonathan. To sum up a unique opportunity at this wonderful location and we believe that we have the right project before you today. It is going to improve over the next several months and years, as we go through the entitlement process it has improved since it was proposed in the rfp er a and we have a great partner and a good team and we are very excited to move forward. Again the location, we could not ask for a better location, we think that is going to take advantage of the market and the market is going to reflect the value that the site has given the location and given truly it is the first piece of Large Development land now as you head out from the citys financial center. And the Public Benefits it is going to bring as mentioned the Land Use Program is diverse and it is robust and a lot of great thinking has gone into how to make this site work, what is the right mix of uses of retail, open space, how all of this interrelates and the work that we have done
Agency and so that is one of the main reasons that we are trying to do this. Before i move on to port rent, i want to talk about the numbers behind what we think that the infrastructure and costs will be and the source of the funds, if you will. To get this month ject done right now when we look at the project per form a analysis, it looks like there will be 100 million of the developer that will be needed to get the project done, this is a lot of at risk money, 15 million of that will be happened in the predevelopment phase and that is very risky money and we have as phil as pointed out and negotiated what we believe to be a market rate of return on that development capitol. They will provide the up front money and there will be other sources to funding that will partially pay directly some of the infrastructure into that Development Costs and reimburse their equity. And return on the equity. We are talking about 125 to 154 million. With this announcement of anchor, before we peged th
Welcome back, everybody. Lets get back to our guest host for the last word. Jim, you said at the very top of the show, that in your opinion, the fed has accommodated and the net policy will stick around for some time to come. The last word here, i want to mention one thing we havent talked about today, which is that the fed president s all signed a letter on Money Market Mutual Fund reform. I think thats an important statement. And a big risk is still out there, i would like to see that reform get moving. Jim, thank you so much. Glad to have you here. Make sure you join us on monday. Right now time for squawk on the street. Good friday morning. Welcome to squawk on the street. Im melissa lee, with scott wapner and james cramer. Carl quintanilla is on assignment and david faber is in palo alto, california, getting ready for his big interview with meg whitman. It looks like a comeback. Dow looking at 89 right at the open. Look at the picture in europe. This is really being driven by thos
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