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dramatically, and as you point out, we were foreclosed from participating on that. we renegotiated a new lease and this is the second time we have been asked to provide relief. so both parties have been wrong in history. >> but the issue still remains, the withdrawal of this motion to deal with the issues that came up today. >> continuance. >> correct. >> i would like to move that we continue this item and respect -- request staff come back to us with recommendations regarding the america's cup. >> ok, so withdrawn. second? all in favor? aye. any proposed? -- any opposed? >> i just a...

of 2010 cuff the terms were negotiated for the development of the least into 2016. the dna contains language recognizing the lease and pork parking facility is not encumbered. a public bidding process to identify a new parking lot. staff recommends that the commission find it practical, because of the uncertainties presented by the developers rights presented by dna. staff receives to the board for direct approval of the new lease terms. for a subsequent least of the site. thank you for your time and consideration. mr. jack bayer is in the audience as well. >> thank you. >> so moved....

would suggest that we hold this over. i was surprised by those comments. >> would you please make the motion, commissioners? [laughter] >> i also have one concern. it is the flat rate for five years, based on the downturn in revenue. the flip side would be, what it years three, four, five, we see an increase? we have locked ourselves into giving significant sums. if there is revenue in excess of a certain amount, can that be taken into account? >> it is not a percentage-range police. it is a rental for office space, shared space. right now, the rental rate is quite high. we do not th...

it is the flat rate for five years, based on the downturn in revenue. the flip side would be, what it years three, four, five, we see an increase? we have locked ourselves into giving significant sums. if there is revenue in excess of a certain amount, can that be taken into account? >> it is not a percentage-range police. it is a rental for office space, shared space. right now, the rental rate is quite high. we do not think in the next five years that we are going to go beyond that. >> without the increases, it would still be -- all right. given the comments that we heard earlier, ...

would like to move that we defer this item to a future date. >> [inaudible] >> you need to come to the podium to speak. >> please, we would love to hear your comments. >> i just want to point out that we are not talking about five years. we are talking about the three remaining years. we are locked in, as you put it, for the next three years, not five. >> i wish i could say everyone's revenue was going up significantly, which would have made it significant. >> this is our second concession. we did have a long period of time where rates went up dramatically, and as you point out, we w...