Page 3 - Monte Rey News Today : Breaking News, Live Updates & Top Stories | Vimarsana

>> 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...

>> 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...

>> our entire budget is $66.6 million. so that is a good portion. >> 10%? >> 10%? >> then as far as i look at the resolution, of course, and this line has been added about assuring of the port getting reimbursed for the revenue that you might lose or the leases that you might lose. have you heard anything concrete about how you would be reimbursed? what are your biggest concerns about being reimbursed for the lost revenue? >> we've been working with the mayor's office that the port would be reimbursed for the lost imcome by capturing a portion of the revenue that results from the rac...

>> our credit rating is good. we're a strong a credit. so to your point -- >> you expect any changes in your credit ratings based on decisions that we're making here or your loss of revenue might have at a future time do you expect the loss of revenue would have an impact on your credit rating and your ability to do bond, indeadness ? if -- indebtedness? >> the credit analyst for the credit agencies would take the term sheet and assume that we lose every pier that is mentioned in there and every c wall lot and that would be in ex-is sess of the revenue that we just mentioned and that...