the issue at this stage. there is no such developer, and it is conceivable that a more fitting use will ever come to the city put the table again, especially if we can get unified behind this unique and once-in- a-lifetime bid. this is not a question of leverage or appropriateness. every element of the highest and best use of the san francisco waterfront is contained in the america s cup requirement. this is a multi-year sporting extravaganza with an ongoing payout. the benefits will be felt for a long time. this is our big opportunity to get our valuable waterfront finally in shape. i urge you to approve the effort to have san francisco selected as the next america s cup location and please, do not let this opportunity slip away. thank you. supervisor mirkarimi: thank you. next speaker please. good afternoon, everyone. when i put willie brown in office, the second thing i propose to him was fixed the port. this is so important. the ne waterfront happens to be in my neighbo
and say that we fully support bringing america s cup to san francisco. i understand that this meeting is mostly about the fiscal numbers and whether or not it makes financial sense for the city of san francisco, and i think that is very important to think about, obviously, but i also want to speak about the other things it would bring to our city. we believe an event like this could do a lot to the sport of sailing and also to increase events in communities that do not normally have that opportunity. our mission that treasure island sailing center is to try to introduce these four to people that normally would not have the opportunity introduced the sport to people that normally would not have the opportunity. we tried to introduce sailing to the communities, to students, so they have the opportunity to experience something that in my life has been very positive. sailing to some is a passion. for others, including myself, it is my job. luckily, i get to combine both of thos
defeating issue. please do not let the phantom prospect of some of the developer who might offer a better deal for the city become the issue at this stage. there is no such developer, and it is conceivable that a more fitting use will ever come to the city put the table again, especially if we can get unified behind this unique and once-in- a-lifetime bid. this is not a question of leverage or appropriateness. every element of the highest and best use of the san francisco waterfront is contained in the america s cup requirement. this is a multi-year sporting extravaganza with an ongoing payout. the benefits will be felt for a long time. this is our big opportunity to get our valuable waterfront finally in shape. i urge you to approve the effort to have san francisco selected as the next america s cup location and please, do not let this opportunity slip away. thank you. supervisor mirkarimi: thank you. next speaker please. good afternoon, everyone. when i put willie brown i
and stature. this could be a huge windfall if we approach the hosting and selection process the right way. consider the many well-financed and capable developers whose previous attempts to fix these peers have gone awry. all have gone away. either there are use issues, construction costs, surprises, permit debates or some other defeating issue. please do not let the phantom prospect of some of the developer who might offer a better deal for the city become the issue at this stage. there is no such developer, and it is conceivable that a more fitting use will ever come to the city put the table again, especially if we can get unified behind this unique and once-in- a-lifetime bid. this is not a question of leverage or appropriateness. every element of the highest and best use of the san francisco waterfront is contained in the america s cup requirement. this is a multi-year sporting extravaganza with an ongoing payout. the benefits will be felt for a long time. this is our big
identified. the port had indicated that they could issue debt for about $25 million to cover their costs through certificates of participation. that is the maximum they would be eligible for, so we identified that. the assumption for the rest is a transfer from the general fund, as is allowed by the administrative code. long-term operating and maintenance costs we identified none because largely, the properties are transferred, the new landlords would bear responsibility for it. not the landlords, lieutenants, excuse me. finally, on the debt load again, the potential $25 million certificates of for dissipation issuance would increase the city s debt by $25 million. we did get last week the proposed northern waterfront alternative agreement. of course, that was not including the amendments that came forward today. this was as advanced by the port commission at their november 30 hearing. there are differences in what events and what facilities will be used. you have heard muc