been. if you look at some things that are coming down the pike like putting a ton of housing on 11th street which could dramatically reduce nightlife there and other parts of south of market where proposed changes could undermine nightlife. it is a constant struggle. it is critical in the next two years that we have nightlife, a great nightlife remaining for america s cup and we will continue to have that into the future. could you after my editorial is incumbent on the relationship between good night life and the america s cup? absolutely. i see it turning into the things in terms of the arts and entertainment side but also the business side. we want this to see the benefit. in a lot of ways it becomes to be this great visitor destination. we want to maximize the excitement and the effectiveness of our ability to manage the waterfront areas. we want this city to show its best foot forward. to the extent we re involved in any of these discussions, that will be our point of
hopefully a practice run for how we are able to promote the neighborhoods for those coming to the events and incorporate the events along the waterfront with sort of the level of excitement we are hoping to build for 2013. and to move on to 2013, in july and august, we will have the louis vutton cup challenger series. it will move to the final to take on oracle, who is the defender in the best of nine match racing series. the combination of these efforts is in september of 2013, but we are looking for the three months for excitement in things that can be used to provide visibility for these arts organizations. in 2012, they will be using the smaller 45-foot vessels, so they need a smaller proposed to raise area that is a bit more defined from the race area we put in the draft eir. we identified that as green of will say is really all the space they need for these smaller vessels to have. the focus of the attention will be near the waterfront. the focus of attention will be th
like. i think as you know, coming back to the board, there is an initial target of $12 million of philanthropic fund raising that the acoc is charged a phrasing. there will demonstrate that $12 million to say we will continue to raise funds. i do not want to conflate the corporate sponsorship peace with the philanthropic peace. that is part of the cooperation between the organizing committee and the event authority. making sure they are not stepping on each other s toes. we want to make sure that local funders who could give to the philanthropic pace, that comes to the organizing committee side. we are confident in the ability to meet their goal and we hope the event authority will do their sponsorship activities to bring forth the event everyone is looking forward to. a staff member has been involved with some of the arts groups. some of the previous projections for the america s cup budget, something like a $306 million budget. only 120,000 being allocated in earlier