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That time. It appears you the time has arrived and this hotel will be built. It consists of Personality Hotels and rock capital and other folks will speak each of the representatives are here. Nonetheless this is a group with financial strength first year i think were the lucky beneficiaries and now we have the need for hotels and especially the needs for hotels in all speekts e sectors. Lets talk about time. We asked for 3 years. Presumably because of the age of the entitlement the staff is rome one year. There are a number of things that have to take place and in San Francisco everything tak...

Beneficiaries and now we have the need for hotels and especially the needs for hotels in all speekts e sectors. Lets talk about time. We asked for 3 years. Presumably because of the age of the entitlement the staff is rome one year. There are a number of things that have to take place and in San Francisco everything takes longer it might expect. Were going to work as rapidly as possible but we dont want our hands tied. We want to split that maybe two years with an additional year if we can demonstrate diligence in getting the hotel built. Thats our presentation. Dan is here and would like to a...

Years. It would construct a hotel a ground floor lobby and restaurants and excessive meeting rooms. The project was originally approved in 2001 and given extensions in 20034 and 10. It has not been gone forward because of the economy. Those down turns were precipitated by the terrorist attacks and the Global Economic recession. However, the sponsor wants a 3 years extension. The staff believes that an extension is appropriate since it was beyond the control of the sponsor. Its ideally located for an hotel and the attractions around union square. And its contemporary but is reasonably designed ...

Union square. And its contemporary but is reasonably designed for the skefrment you districts. However, because of the current economic climate the staff asked for 1 year extension. This includes my presentation im available for questions. Thank you project sponsor. Good afternoon president s fong and members of the commission, director ram im jim rubin this time representing the hotels and partnership of Brand New Partnership that the proposed developer of the hotel. Were asking you to provide this new ownership sufficient additional time to continue the project. Its been difficult for releas...

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