All in favor, say i. Well move into executive session the wor negotiators. Do i have a motion to reconvene . Second. And to not disclosure anything discuss in closed session. All in favor, say i. Opposed. Were reconvened pledge of allegiance. Of the United States of america and to the republic for which it stands, one nation under god, indivisible, with liberty and justice for all all right. Please be advised the ringing of and use of cell phones, pagers and similar soundproducing Electronic Devices are prohibited at this meeting. Please be advised that the chair may order the removal from the meeting room meeting room responsible for the ringing or use of a cell phone, pager, or other similar soundproducing Electronic Devices. Please be advised that a member of the public has up to 3 minutes to make comments on each agenda item underlines a shorter period is adapted and item 8 Public Comment on items not on the agenda any Public Comment . Seeing none, Public Comment is closed item 9 e
Of the port which was a refreshing discussion highlighting for us issues that we have already been tracking but it is always good to hear from the users of the port, their viewpoints about adjacent development especially the maritime users. And we see this as complimentary to the working water front and what is happening in pier 50 and south. And we are working with the marry time group and others to listen to concerns and shape the project accordingly Going Forward. The land use summary shows that we have a plan to create a mixed use neighborhood that links mission bay to the city and to the working water front. Changes for mission bay as we will get into it a little later, this site takes advantage of what we have learned from mission bay, which as many of you know it is consisted of fairly large blocks of commercial development for the most part that are very efficient but not necessarily extremely friendly to pedestrian and people trying to navigate through the site and especially
Reap the maximum benefit is that we are prizing the lapped and the finished parcels after the entitlement and infrastructure and that is a ready to go parcel and create the maximum value and subject to market timing risks which is something that we need to consider and we are not trying to set the value now or to speculate to the spakt value we are trying to create a maximum opportunity for the port to get that value. The normal and deal very normally would involve an early sale, or option, that is not the structure that we have put forward. Other principles are for the port to continue to have participation. These are long terms, the current use makes a lot of money and will grow over time but it does not have this time to create large, new, Economic Opportunities for the private community through the development and share as a city agency and so that is one of the main reasons that we are trying to do this. Before i move on to port rent, i want to talk about the numbers behind what w
Blocks of commercial development for the most part that are very efficient but not necessarily extremely friendly to pedestrian and people trying to navigate through the site and especially through the water front and so this site learns from that and breaks the blocks, pretty much in half to create a smaller scale experience for the pedestrian and ways to see the water and ways to get to the water and we believe that also adds value to the property. The Land Use Plan employs flexible zoning and we will talk about that again in more detail shortly and that takes advantage of the Market Conditions to insure vital mix of use and users and the thinking here is to have some what of a flexible approach with maximums, and so we insure a mixture of uses and also to respond to the market with the appropriate supply of residential and commercial uses. It tells a good story, especially the upper bar, the top bar highlights today what we are contemplating. You will see, going back to 2007 on this
We have been even prior to that actively looking at different sustainability measures that will conform the eco district including centralized Waste Collection and things of that nature and the think that the recognition of the planning is encouraging. And so we are exploring as many options as we can to make this site a model for the city and a model for other developments. Of course, the project will be built with a comprehensive traffic demand management plan. I think that we as mike mentioned we benefit from Peter Alberts work on the water front assessment which is helping to inform the traffic thinking for the site. And the other sites along the water front. And this has been a key issue we found with the adjacent neighborhoods that transit through this part of the city could be improved from their perspective. Both in terms of scheduling, operations, and ongoing operational maintenances of the infrastructure. So we think that this project in concert with the other projects as det