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GRAHAM: Microphone. <br />SIRACUSA: Doesn’t necessarily hold up. <br />YEH: It’s really more -. <br />GRAHAM: Mr. Yeh? <br />YEH: Yeah, and I appreciate that. It’s really more of the factor of the fact that <br />you have a pretty prime shoreline location. You’ve got tremendous cost that it’s going to take to <br />be able to build this facility.And I think just from a pricing standpoint, that’s going to be a big <br />factor in terms of, right, who buys into this facility. I mean that’s a practical reality because I <br />think their estimated cost is about 5 million dollars to build this. So it’s not a matter of rejecting, <br />you know, who wants to buy into; it’s just who, practically speaking, is going to be able to do <br />that, just from an economic feasibility standpoint. <br />GRAHAM: Thank you, Mr. Yeh. Do we have any other questions from the <br />Commissioners? All right, well, you all can go back now. And I think I can call in <br />Commissioner Alameda for his motion. <br />ALAMEDA: I pass. <br />GRAHAM: You pass. Okay. The lunch is coming forward, huh? <br />ALAMEDA: I’ll mess up the motion. <br />GRAHAM: So anyway, we are available for any motions on this application -. <br />WATANABE: Mr. Chair? <br />GRAHAM: From the Commissioners. Commissioner Watanabe? <br />WATANABE: Yeah, I move that the Special Management Area Use Permit, SMA 07- <br />000020, be approved based on the Director’s recommendation, subject to the conditions <br />provided. <br />GRAHAM: Thank you. Is there -? <br />DOMINGO: Second. <br />GRAHAM: Second? Was that Commissioner Domingo? <br />DOMINGO: Yes. <br />GRAHAM: Yes. All right. We have a motion by Commissioner Watanabe, seconded <br />by Commissioner Domingo, that we approve this SMA permit. Do we have any discussion on <br />the motion before we take a vote? All right, Jeff? <br />EXHIBIT E <br />12 <br /> <br />