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Good deal of revenue over its life as well as a good deal of expenses up front,v and we expect that we would be able to pay a very substantial amount of rent to the port and would be willing to structure various forms of up side participation as is typical for these major projects, however, there would be a need to negotiate and offset credits, qualifying rent credits for the structural work that would result in this new project going forward. Weve been asked to address project phasing issues and wed like to be as frank as we can with you about this. We have submitted this as a twophase projec...

Are maybe not quite of the same scale. Were providing office that would stretch for the latter, its called three quarters of the pier. And we see that happening on first and second floor. Were looking at building mezzanines. So, the first floor is a mixed use component, Public Access, the docks, the retail at the front, and then office at the rear of the project. We think this is a really unique approach to putting the second floor in. If youve been in the building, it has a very tall clear story in the middle of the building. So, rather than pulling the mezzanines out to the glass line, were ...

And we would finance this through a combination of private equity, debt, and federal and state historic tax credits. Tmg has a lot of experience and we believe we can secure those credits and help make this project work. The project would generate a good deal of revenue over its life as well as a good deal of expenses up front,v and we expect that we would be able to pay a very substantial amount of rent to the port and would be willing to structure various forms of up side participation as is typical for these major projects, however, there would be a need to negotiate and offset credits, qua...

Particularly with a full seismic upgrade and pier structure work that would be required. And we would finance this through a combination of private equity, debt, and federal and state historic tax credits. Tmg has a lot of experience and we believe we can secure those credits and help make this project work. The project would generate a good deal of revenue over its life as well as a good deal of expenses up front,v and we expect that we would be able to pay a very substantial amount of rent to the port and would be willing to structure various forms of up side participation as is typical for ...

Proposing a mix of uses the right balance that will be consistent with the public trust. The historic rehabilitation of the building to secretary standards is itself a trust use combined with the balance of restaurant and retail as well as the new apron and the bayside history walk, we believe will allow the appropriate balance with the office space that is needed to make this project financially feasible. And we believe that we do have a regulatory strategy that will get us through a reasonable amount of time. Matt walked through some of the economics of phase 1. Phase ii, we have not yet sub...