child from master lease, and the marina master lease. in turn its sub-leases these properties for commercial, maritime, and special use to expire annually. one title seeks to add additional properties to the amendments that are required. as instructed, it has been amended 35 times. some pieces do not generate income, like picnic areas and, nods. -- promenade. and generating millions of dollars each year for the island, the agreement exceeds the 10 year threshold described

in section 9.118 b. it seeks to extend the terms of these agreements before they expire this year, into next year. one year. transferred from the navy title, but until that time, these agreements generate revenue for the program island residents. i am here to answer any questions you might have at this time. supervisor chu: thank you. no questions at this point. thank you for all of the work that you do on treasure island. you have done a tremendous amount, coming up in every year with this. i want to apologize. i have to leave budget committee and will love be able to vote on this item.

but thank you so much. supervisor, let's go to the budget analyst reports. >> the only change being proposed that the existing time is to extend the leases and the agreement for one year. there is no other impact whatsoever. we recommend that you approve the proposal. supervisor chu: thank you. let's offer these items for public comment. >> there is one thing missing from these items. the words yurba bueno. my brother went to electrician school there back in '78. my brother and sister have lived there for the last five or six years. affectively, this has nothing to

do with treasure island and everything to do with yerba buena. the juno that they keep giant pumps going on treasure island and all day long to keep it from flooding? it is a trap. there are 200 units out there, so we are going to balance those for a total of $600 million. that is exactly what they're going to do. the fact of the matter is this lady that just spoke, seems like a nice lady, but they brought her from back east because she is an expert on removing people from public housing. she interviewed a couple of thousand people to clear the

units for developers. it is a big thing out -- i can really talked fast, but what you need to extend this is trees. the fact of the matter is that as long as the navy, we do not make an initial payment, as long as we do not make an initial payment, the city can do whatever they want to the trees over there. i am over there all of the time, they are bringing down trees. at 150 year-old monterey pine, they have got the stones through next september 30. one year in which the navy controls the island, cutting the

trees. the key is that it is not listed on these at all. treasure island is a joke, folks. yerba buena is the prize. remember that i told you so when that happens. supervisor chu: thank you. any other members of the public? seeing no one, public comment is closed. if there are no other questions, these of the items before us. ok. can we send items 10 to 15 on to the full board with recommendation? we can do that without objection. thank you. next item, please.

>> item number 16. ordinance providing revenue and levying property taxes for city and county purposes and establishing pass-through rate of residential tenants pursuant to chapter 37 of the administrative code for fy ending june 30, 2012. item number 17. ordinance providing revenue and levying property taxes for san francisco community college district purposes for fy ending june 30, 2012. item number 18. ordinance providing revenue and levying property taxes for san francisco unified school district purposes for fy ending june 30, 2012. item number 19. ordinance providing revenue and levying property taxes for san francisco bay area rapid transit district purposes for fy ending june 30, 2012. supervisor chu: thank you very much. we have money, from the comptroller's office. >> every year the comptroller's office proposes legislation like this before you today. as you know, the general fund is a recipient of three community

college school districts from each of those entities. they must be approved by the county board of supervisors by september 30. we request your approval of this, the first being the valley of the general obligation funds being duly paid here, as well as whitaker hear from the comptroller's office. the property tax receipts in the city, making sure that there is the property tax rate conducted within each formula.

jamie will demonstrate. >> this package of ordinances', a 11 and 12 property tax rate will be adopted on the last working day. overhead on the computer, it shows us five years from the property tax rates. the base tax rate has been set. the funds needed to make the fiscal year debt service obligation bond dictates the additional levy over the 1% base rate. this next slide shows the unoccupied element for the entire fiscal year. this year's tax bill will be

about $82.50 higher. i am happy to answer any questions you have. supervisor chu: thank you. >> the controller just reference the increase in property taxes on a residence in san francisco being $82.52. this calculation is made by the comptroller. we recommend it. supervisor chu: let's open these items up for public comment. do any members of the public which to speak on this item? >> ♪ tax rate now, do you need to slow the tax rate down, tax

rate property, oslo that tax rate down, writing all over town slow the tax rate and bring it down ♪ supervisor chu: thank you. are there any other members of the public that would wish to speak on these items? >> i have a question. this means that someone was living within the property? supervisor chu: your question?

>> who does it apply to? supervisor chu: 10 instead paid to property owners. some of these measures to allow for certain amounts to be passed between property owner and tenant. it depends on which ballot measures they were. if that is the specific question, jamie might be able to help answer. >> questions 17, 18, 19, kindle da did these apply to the unit? supervisor chu: they would, but if i could these are public comments, we do t generally answer questions. but if you could step to the

side, we will point you to the right people to answer questions. setting what those rates should be based on the general obligation bonds for property tax estimates, incentivizing every single leader, that is generally what these items are. >> i thought to myself, my goodness, they're going to raise taxes on the units. if it is per unit, they should not raise the taxes for anyone there from before 1978. supervisor chu: we will go through this exchange in just a moment. are there any other members of the public that wish to speak on these items? seeing no one, public comment is

closed. these items will be sent forward with recommendation, without objection. if we could take a five minute recess, given that we do not have a full complement? thank you.

supervisor chu: we are going to come back to session. if we can call item no. 20? >> item number 20. resolution approving the execution and delivery of not to exceed $110,000,000 aggregate principal amount of refunding certificates of participation no

bonds issued by the redevelopment agency; approving a property lease, project lease, escrow agreements, and a trust agreement; providing for the manner of sale of refunding certificates of participation, whether by competitive or negotiated sale; approving the form of the official notice of sale and the notice of intention to sell for the refunding certificates of participation; directing the publication of the notice of intention to sell for participation; approving the form of the certificate purchase contract; approving the form of the official statement in preliminary and final form; approving the form of the continuing disclosure certificate; authorizing the acceptance by the city of certain property in connection with the execution and delivery of the refunding certificates of participation; authorizing the payment of cost of issuance; authorizing the taking of appropriate actions in connection therewith; and related matters. supervisor chu: thank you very much. for this item we have anthony. >> good morning, members of the committee. i am here on behalf of our office for the resolution before you to approve the funding certificate of participation within the san francisco

redevelopment agency in the 2002-2004 bond. approved by the voters are in 1976 and 1988, with propositions moving north. for services to the city, we currently expect, based on market initiatives, to achieve $5.9 million within five% of the funded partner. -- 5% of the funded partner. to the extent that they were able to achieve this on the funding, those revenues were for other purposes. a clothing transaction in october through november with

market conditions broad review approval of the resolution. accompanying this are several documents including trust agreements that are pretty customary, based on the company of police structured cop's. in addition, it forms the preliminary appendix described as a security credit features and a financial condition. the last time that it was approved by the board was in april, in connection with the city's annual equipment lease program. the city's staff is currently updating documents for the budget. the adopted budget controls revenue and maintain it as more

up-to-date. there are other documents approved by the legislature. describing the city's obligation under the market conditions. supervisor chu: thank you. i know that the report mentioned the fact that the redevelopment agency could not be issued within? >> as you know, there are certain questions that have to do with whether the redevelopment agency is actually able to issue bonds. given the nature of repayment on prior bombs, it was felt that extra revenues, other than the resolution, which would be a

january, the earliest, this recommendation for funding involves achieving those with more certainty within the transition. supervisor chu: let's go to the budget analyst report. >> table 3, page 5 of our report, based on information provided, the current estimated certificates to be issued are $97,910,000 out of the requested authorization for the approval of $110 million. which is to say that it explains the excessive amount as revised

sufficiently for mortgage fluctuations between the time that the board approves the legislation and the anticipated issuance. at the bottom of page six, we point out that the estimated savings based on information provided would be $5,535,892. this is because the bonds to be funded are higher than the proposed refunding seal. finally, on page eight, we do recommend approval. supervisor chu: let's open this up for public comment.

are there any members of the public that would like to speak? thank you, public comment is closed. on this item, if i could ask anthony to get back to us on this? i am supportive. if there is an association with this transaction within the budget, i wonder if market conditions change, at what point do we say that we will not go through with the transaction? >> at a minimum of 8% savings, we are well above that, probably exceeding 5% at the moment. that is just a general rule of thumb. supervisor chu: thank you. that answers my question. we have done public comment and we have the recommendation, moving forward without objection.

thank you very much. can you call items 21 through 23? >> item number 21. ordinance amending ordinance no. 146-11 (annual salary ordinance fy2011-2012) to reflect the addition of 34 positions (22.84 fte) in various job classes for assembly bill 109 public safety realignment consisting of adding 30 positions (19.92 fte) in adult probation, 2 positions (1.50 fte) in public defender, and 2 positions (1.42 fte) in district attorney. item number 22. ordinance appropriating $5,787,176 of assembly bill 109 public safety realignment revenue to support related expenditures at adult probation, district attorney, public defender, and sheriff for fy2011-2012. item number 23. resolution approving the city and county of san francisco 2011 public safety realignment plan. supervisor chu: thank you very

much. for this item, we have the chief from the adult probation department. chief stills? >> [whispering] i know. but technical ability is not that great, but i will do my best. >> thank you very much, madam chair and supervisor mirkarimi for being able to present to you today on the public safety realignment plan. ok, sorry.