The three vessels you see on the north side to the left represent the citys fire boat fleet. There is a placeholder on the north and south side of the pier that is envisioned to accommodate water taxi, ferry landings and private craft in the lower righthand corner of the site. We are very excited about having this enter into the review so these ideas can be fully vetted. The design will evolve as that takes place. In order to do the fiscal Feasibility Analysis it was important to come up with a broad outline of the proposed business terms for this deal. So the warriors in the city in port work to come up with a conceptual framework. That is not before you today as part of the resolution. I think it is important to take a few minutes to describe the framework that forms the assumption in the feasibility report. The framework says this. The warrior also privately finance all development on piers 30, 32 and seawall lot 30. The city and port will reimburse warriors for agreed upon improvem
To what we would owe 13 interest on . That is right. We are attempting to have that remaining number of 30 million be something taken out early. If we can negotiate a value for the 66year lease at net present value where you look at annual increases, look at what a reset would be, calculate the present value of those that rent stream today and give a credit, that would take out the reminder. Okay. That is actually something i want to show. Right. In the report it said even if you could not do that, that what remained was the 29. 6 million, that is 13 annual rate on the 29. 6 million is 3. 8 million. That would exceed estimated annual Fair Market Rent of 1. 9 million. In that case because they have exhausted the three buckets that would be what the city would be committed to giving. Nothing beyond that. I think thats been one of misconceptions. If warriors have rate of return and more owed, whether because they exceed the 120 million of reimbursable expenditures or because there is a ra
The design will evolve as that takes place. In order to do the fiscal Feasibility Analysis it was important to come up with a broad outline of the proposed business terms for this deal. So the warriors in the city in port work to come up with a conceptual framework. That is not before you today as part of the resolution. I think it is important to take a few minutes to describe the framework that forms the assumption in the feasibility report. The framework says this. The warrior also privately finance all development on piers 30, 32 and seawall lot 30. The city and port will reimburse warriors for agreed upon improvements for cityowned infrastructure. Expenditures for improvement are reimbursable expenditures are capped at 120 million. Funds for reimbursing those are limited to three sources. Let me take each of those three individually. The warriors will privately finance all development. All buildings and improvements, including the multipurpose entertainment venue will be financed