Value to the port of 1. 4 million here the internal rate of the return case, would be about 16 . This is a graphic showing exactly what i showed on the bar chart just in a pie, to show you where the share of revenue is coming from in the low and high case and we only changed one factor that was the number of special events. When we were here last commissioner woo ho asked about where the revenue is coming from in the project i think you were right commissioner woo ho we were over stating the importance of special events in the economic of the project, when its really the Office Revenue is the economic driver in the project, its just that special events flows to net cash flow thats why its the difference between the base and high case you will see in the low case five events a year 46 of the revenue is generated from the office use 20 from the restaurant and 13 from special events. In the high case 20 events per year special events grows to 38 , office, 48, and restaurant at 14 . Tmg in
Session, all in favor . multiple voices aye. I move to disclose agenda item five a, the closed session, voted 40, to approve the existing litigation described in agenda item four a one a, between the part and andrea wirum as trustee of the bankrupty state of peer maritime, recreation center, and not disclose anything else discussed in closed session there is a second second all in favor . multiple voices aye. Opposed . Motion carriedscarries. Item six. Pledge of allegiance america and to the republic for which it stands, one nation, under god, indivisible, with liberty and justice for all. Please be advised the use of cell tones, pagers, and similar sound producing electronic devices, are probited at this meeting, the chair may remove for the use of a cell phone, pager or other sound producing electronic device, be advised a person has up to three minutes to make comment on an agenda item, unless they adopt shorter period on any other item item eight or not listed on the agenda any Pub
Canal and that park. Thank you very much. Unlike the other Mission Bay South residential projects, this project has an inclusionary housing component. It depends on whether or not its rental or for sale. If its for sale condos that project would fee out at 20 . If its a rental we have a requirement for 15 of the units to be affordable and 16 of the area median income. Were probably not going to know whether or not the project is going to be for sale or rental or mixture of both. It could be both one is rental, one is condo. Were not going to know that until we get closer to building permits. Assuming the whole project is rental. And we worked with the developer to identify those based on the opa requirements that basically being units should be comparable in location and bedroom size as market rate. If you look at the breakdown on bedroom allocation for the project overall, compared to the inclusionary units, you have the same ratio as much as you can round it to between the two. Also,
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Welcome. Im bob abernethy. Its good to have you with us. With less than three eks unti election day, polls show divided cturamg religious voters, especially catholics, who have been almost evenly split between president obama and governor romney. On thursday, both candidates attended the annual Al Smith Charity Dinner sponsored by the catholic archdiocese of new york. At the usually lighthearted event, both men made jokes at their own expense, but obama ended on a serious note its written in scripture that tribulation produces perseverance. And perseverance, character. And character, hope. This week, the u. S. Catholic bishops have been urging special prayers for religious liberty. At a mass to open the rosary novena for life and liberty, archbishop william lori said catholics must bring their beliefs to the public square. Religion came up briefly at the president ial debate tuesday, when mitt romney made a rare reference to his mormon faith. And i believe were all children of the same