literally watching these deliberations today. i kid you not we have folks from all over the world who are passionate about seeing san francisco be successful in this effort. and the team has been ungive cal with us. unequivocal with us. we have noted that we are competing against nations and that san francisco and our honorary committee that includes members of our state delegation as well as the speakers, senator finestein. we are really doing this on behalf of the nation. and today is the opportunity to find out if whether or not the offer that we have put together is how we would like to proceed in negotiating binding agreements. we do not feel in good conscious that we could be more aggressive than what we have put before you. and at this juncture we are seeking your feedback and the opportunity to go forward with the team and put our best foot forward. so i cannot recommend or suggest that putting this over would billion to our benefit. i can assure you it would be to
but i feel this is important that we need to have full transparency in the process especially from the supervisors who s districted is impacted. this is a city wide impact but the most impacted will be the low income areas. i want to see the impact on the general fund. i also wanted to thank mr. mark buell for taking on the mammoth job of raising the huge amount of money that the organizing committee has to make. i do note there are a number of environmentists like david festa and paul hawkins, david lewis and a number of others. and i would encourage that local environmental groups would be involved as we go through the environmental analysis as well. i just had one additional economic question. if the acoc cannot meet its goals, is there a back-up plan if the fees cannot be raced in time from the city department? the short answer is no. that the fully born by the america s cup organizing committee. they would have to work very, very closely with that organizing committee
festa and paul hawkins, david lewis and a number of others. and i would encourage that local environmental groups would be involved as we go through the environmental analysis as well. i just had one additional economic question. if the acoc cannot meet its goals, is there a back-up plan if the fees cannot be raced in time from the city department? the short answer is no. that the fully born by the america s cup organizing committee. they would have to work very, very closely with that organizing committee in order to essentially sell the benefits that would be part of that would be part of that $270 million for sponsorships. if that if that money then in the acoc under mark has pledge to do their very best to do that, it s our understanding that if we don t meet certain milestones that the city is deselected. there are no financial exposure to the city. there is no penalty. there is nothing that obligates the city financially to do further activities. and the $270 mill
thank you, colleagues. i want to speak to this issue for a moment. i think after the hours that we spent at land use yesterday and the several hours that we spent this afternoon, it is absolutely true that there are details that we do not yet know about the nature of the specifics of this plan. but let me just reiterate a couple of points. first of all, we know that this plan is at preliminary design stage. we know it s going to continue to change and evolve as the americas cup team and all the regulatory body including ours reviews these plans we also know the city, san francisco, is going to continue to conduct a very rigorous environmental review of the regatta. and we re going to have sequa review for these plan elements. if we are lucky enough to get there will be working with the public and the stakeholders. we were assured that all the neighborhood associationsa, the associations, the entities are going to be involved in this process. we are going to design an even
thank you, colleagues. i want to speak to this issue for a moment. i think after the hours that we spent at land use yesterday and the several hours that we spent this afternoon, it is absolutely true that there are details that we do not yet know about the nature of the specifics of this plan. but let me just reiterate a couple of points. first of all, we know that this plan is at preliminary design stage. we know it s going to continue to change and evolve as the americas cup team and all the regulatory body including ours reviews these plans we also know the city, san francisco, is going to continue to conduct a very rigorous environmental review of the regatta. and we re going to have sequa review for these plan elements. if we are lucky enough to get there will be working with the public and the stakeholders. we were assured that all the neighborhood associationsa, the associations, the entities are going to be involved in this process. we are going to design an even