rates could negate the benefits and equity investors>> we wouldo enter and determination. once an agreement is reached, both the equity investor will need to move quickly. the budget analysis report was thorough and good. the recommendations, they are articulating its. we are fine with them. the mta has received the benefit of these transactions. the benefits are significant to us. we would allow it to avoid any future liability. we're able to answer any questions you may have. supervisor chu: do they want to

add any comments? >> that is the conclusion of the presentation, but they are here to answer any questions. >> we concur with the m.t.a.'s objective in entering into these future termination agreements. as budget analyst, i would normally not recommend that to you because i would want the board to approve each agreement. we understand that interest rates fluctuate on a dime and i think this is in the best interests of the city. we do have a couple of recommendations on page 11 of the report, to recommend that you amend, and incidentally, the city attorneys advised me. we were looking at an earlier version of this legislation.

our first recommendation, we recommend amending page one, line 7 instead of line 6 of the proposed resolution to specify that there is no financial liability to the city for the termination. the way it reads now is just for the sfmta. and page two, line four. requiring any early termination agreement requires rival approval -- prior approval, just a further safeguard. we recommend page two, line 7 an7, no later than 30 days after the mta enters into a termination agreement with an equity investor if they do enter into such an agreement. and overall, i consider it to be

a policy matter. i concur with the concept. supervisor chu: a quick question, we have heard about the transaction that associatioed with vehicles -- >> we have other finances, but they are related to the dry. -- garage. supervisor chu: in terms of the concept of what we would want to make sure that they had the authority to unwind, it makes sense because we have issues of technical default given where the economic scenario is these days. what is the incentive for the original investors to unwind from this? >> they no longer have the

advantage for the tax benefit that included in 2003. many of these investors want it off of their portfolio because the valuations of underlying securities are so strong that they can use the valuation to write off what is on their books. particularly overseas banks that were original investors. we don't think we have for investors at this point. we don't think that all four will be agreeing to the consentual termination. >> a deputy city attorney, i apologies for all of the editing this morning. if you were to except the budget analyst recommendations, it would be best to incorporate those changes in the first results clause further down the

page on line 14 to make sure that it is consistent throughout the resolution. additionally, in the second recommendation, the budget analysts suggested additional language about requiring approval of the board. in the early termination agreement that requires out of pocket costs shall require prior approval as opposed to just requires. supervisor chu: other members of the public that wish to speak on this item? public comment is closed. colleagues, can we take the amendments that have been recommended? mr. rose has three recommendations that he read into the record, the different

lines that are associated with them. there were changes on item number one, amending page one, line seven. and on page two, line four, and on item number three, to amend line 7 to make sure the city does receive a report after 30 days of the termination and to make sure that it is explicitly spelled out that it is not just the mta that is liable. and in terms of the city attorney was a recommendation, also in terms of accepting amendments no. 2 instead of the city requires prior approval, shall require. we can take those without objections. to the underlying guide and as amended, will that require a continuance? thank you. on the underlying item, can we

prove that? without objection? item #7. >> resolution authorizing the issuance not to exceed $8,100,000 for the purpose of providing finances for the acquisition of a unit, the family rental housing units. supervisor mirkarimi: this is for the 333 fell street apartments on the border of district 6. the target population is for families at 50% of the area median income. they have an average tenure of 11 years. the building population includes

28 children in the 62 seniors. average occupancy is 99%. the target population will not change as a result of the project. the current residents will remain during and after the rehabilitation project. it will be green including the installation of photovoltaic and the replacement of aging building elements. it will prepare for the affordable housing. it is a good project and it meets all the standards that we would want to see. if you like to add anything, please. >> i am with of the mayor's office of housing. we also have kevin with bridge housing, the sponsor of this project. this is a project that requests

that the city health issue bonds. it is one of the projects coming over from the redevelopment agency because they are not in a position to issue bonds. you'll be seeing a number of these projects over the next couple of months. we are really happy with this project because bridge has managed to complete the rehab work without any additional city financing. the redevelopment agency gave the project $1.5 million about 19 years ago to build of the building. they have done a wonderful job of owning and operating this building over the last 19 years. the building is on the corner, and it used to have the psychic as a commercial tenant. we are really happy that they are managing to do all this work without any new city money.

we are getting another 55 years of affordability. >> i am a project manager at the housing corporation. i think they have done an excellent job of summarizing the project. at this time, i would just like to express my thanks to the board of supervisors for helping us attain the that allocation for the bonds and the tax credit reservation for the project. i am happy to answer any other questions that may come out and i want to express gratitude to the mayor's office of housing and redevelopment agency for their incredible support of the project. supervisor mirkarimi: for this part of the area, what the area looked like 10 years ago, especially before the demolition

of the central freeway, it is completely enjoying a renaissance and like it has been seen before, where this area of housing exists, especially for high percentage of low-income housing. it is a pretty spectacular project, one that i think should make us all very proud. >> we do not have a budget analyst recommendation or report because this is an item that does not have an impact on the city general fund. why don't we open this item up for public comment? many members of the public at which to speak? >> i have a lot to speak of this, but not enough time. how to put on your mind, without a doubt, we are talking about fairness.

i am here applauding bridge, mercy housing, catholic charities. we had all the big giant developers at one time come to the west division. at one time, it was mandatory that developments like this -- right now, we are at a state of emergency. i have come to let you know how serious i am speaking to you, whether you want to hear it on not. without a doubt, it is a prime example of a big project, with no input. i remember 10 years ago, they come to the western addition to getting approval, and it was a rubber-stamp committee. the right now we don't even have a rubber stamp committee. the only part of the city that doesn't have a community organization that the city and

county recognizes. i have to come here and raise my voice. i have to come here wounded, homeless, jobless. but not information less. we are in a state of emergency. all of these contracts you're proven goes without no input for the community. i don't need no clown backing me to ok what i'm doing. i have been coming here 20 years to see how this process has failed us. not only african-american people, low income people. you're going on and rubber stamping, walking all over our community. i am here to say that you are in total violation. i can't go to the city

attorney's office. who do i go to? do i have to go outside the boundary of the city and county to analyze what is going on here? i am up here, my voice is louder. i want to speak loud and clear in your ear that you are in total violation of the community. approve everything you want to do, but i wanted to show for the record that there is no voice for the western addition. with a c.a. with a c.b.d. i wanted to let you know i am here in your ear. supervisor chu: any other member of the public wish to speak? public comment is closed. and on the item? supervisor mirkarimi: motion to

approve with recommendation, i want to underscore that this has no impact to the general fund. as with most affordable housing agreements that come before us, it is 80% of the area median income, and the retention of those that live in the building, make sure it is 100% protected. this is one of those that should give a thumbs up across the way. supervisor chu: there is a motion to send the item forward and we can do that without objection. do we have any other items before us? we are adjourned.

>> i'm your host of "culturewire," and today, here at electric works in san francisco. nice to see you today. thanks for inviting us in and showing us your amazing facility today. >> my pleasure. >> how long has electric works been around? >> electric works has been in san francisco since the beginning of 2007. we moved here from brisbane from

our old innovation. we do printmaking, gallery shows, and we have a fabulous retail store where there are lots of fun things to find. >> we will look at all of that as we walk around. it is incredible to me how many different things you do. how is it you identify that san francisco was in need of all these different services? >> it came from stepping out of graduate school in 1972. i wrote a little thing about how this is an idea, how our world should work. it should have printmaking, archiving, a gallery. it should have a retail store. in 1972, i wanted to have art sales, point-of-sale at the grocery store. >> so you go through the manifesto. with the bay area should have. you are making art incredibly accessible in so many different ways, so that is a good segue.

let's take a walk around the facilities. here we are in your gallery space. can you tell me about the current show? >> the current show is jeff chadsey. he is working on mylar velum, a smooth, beautiful drawing surface. i do not know anyone that draws as well as he does. it is perfect, following the contours and making the shape of the body. >> your gallery represents artists from all over, not just the bay area, an artist that work in a lot of different media. how to use some of what you look for in artists you represent? >> it is dependent on people are confident with their materials. that is a really important thing. there is enough stuff in the world already. >> you also have in his current show an artist who makes sculpture out of some really interesting types of materials.

let's go over and take a look at that. here we are in a smaller space. project gallery. >> artists used the parameters of this space to find relationships between the work that is not out in the big gallery. >> i noticed a lot of artists doing really site-specific work. >> this is a pile of balloons, something that is so familiar, like a child's balloon. in this proportion, suddenly, it becomes something out of a dream. >> or a nightmare. >> may be a nightmare. >> this one over here is even harder to figure out what the initial material is. >> this is made out of puffy paint. often, kids use it to decorate their clothes. she has made all these lines of paint. >> for the pieces we are looking at, is there a core of foam or

something in the middle of these pieces that she built on top of? >> i'm not telling. >> ah, a secret. >> this silver is aluminum foil, crumbled of aluminum foil. her aesthetic is very much that quiet, japanese spatial thing that i really admire. their attention to the materiality of the things of the world. >> this is a nice juxtaposition you have going on right now. you have a more established artists alongside and emerging artists. is that something important to you as well? >> very important in this space, to have artists who really have not shown much. now let's look at other aspects of electric works operation. let's go to the bookstore. >> ok. >> in all seriousness, here we

are in your store. this is the first space you encounter when you come in off the street. it has evolved since you open here into the most amazingly curious selection of things. >> this was the project for the berkeley art museum. it was -- this is from william wiley's retrospective, when he got up onstage to sing a song, 270 people put on the cat. >> it is not just a bookstore. it is a store. can you talk us through some of your favorites? >> these are made in china, but they are made out of cattails. >> these pieces of here, you have a whale head and various animals and their health over there, and they are jewelry. >> we do fund raisers for nonprofits, so we are doing a project for the magic theater, so there are some pretty funny cartoons. they are probably not for prime time.

>> you sort of have a kind of holistic relationship where you might do merchandise in the store that promotes their work and practice, and also, prince for them. maybe we should go back and look at the print operation now. >> let's go. >> before we go into the print shop, i noticed some incredible items you have talked back here. what are we standing in front of? >> this is william wiley, only one earth. this is a print edition. there are only eight total, and what we wanted to do was expand the idea of printmaking. this is really an art object. there we go. >> besides the punball machine,

what do you produce in limited edition? >> there is the slot machine. if you win the super jackpot, you have saved the world. >> what about work? >> the right design, it was three volumes with lithographs in each volume. the cab of count dracula with 20 lithographs inside and lined with beaver fur. really special. >> let's move on to the print shop. >> ok. the core of what we do is making things. this is an example. this is a print project that will be a fund-raiser for the contemporary music players. we decided to put it in the portfolio so you could either frame at or have it on your bookshelf. >> so nonprofits can come to you, not just visual are nonprofits, but just nonprofits

can come to you, and you will produce prints for them to sell, and the profits, they can keep. >> the return on investment is usually four times to 10 times the amount of investment. this is for the bio reserve in mexico, and this is one of the artists we represent. >> you also make prints for the artists that you represent. over here are some large prints by a phenomenal artist. >> he writes these beautiful things. anyone who has told you paradise is a book of rules is -- has only appeared through the windows. this is from all over coffee. we are contract printers for all kinds of organizations all across the country. >> thank you very much for showing us around today. i really appreciate you taking the time to let me get better acquainted with the operation

and also to share with our "culturewire" team. >> i am the director of visual arts programming at intersection for the arts. intersection for the arts is based in san francisco and has always been an organization that looks at larger social political issues through the lens of

practice, and we are here today at our exhibition of "chico and chang." the original inspiration was drawn from a restaurant chain in new york city. half of their menu is -- what struck me was the graphic pictures and a man in a hat on a rig truck carrying take that time is containers and in the black sea to representation of a mexican guy wearing a sombrero and caring a somali horn. it struck me that these two large, very subversive complex cultures could be boiled down to such simple representations. chico and chang primarily looks at four topic areas. one of the man was is whose stories are being told and how.

one of the artisans in the show has created an amazing body of work working with young adults calling themselves the dreamers. another piece of the exhibition talks about whose stories of exhibition are actually being told. one artist created a magnificent sculpture that sits right in the center of the exhibition. >> these pieces are the physical manifestation of a narrative of a child in memory. an important family friend give us a dining table, very important, and we are excited about it. my little brother and i were 11, 14. we were realizing that they were kind of hand prints everywhere on the bottom where no one would really see, and it became this kind of a weakening of what child labor is.

it was almost like an exercise to show a stranger that feeling we had at that moment. >> the second thing the exhibition covers is how the allocation is defined, a great example on the theme, sculpture called mexicali culture. another bay area artist who has done residencies in china and also to what, mexico. where immigrant communities really helped define how businesses look of a business' sign age and interior decoration, her sculptural piece kind of mismatches the two communities together, creating this wonderful, fantastical future look at what the present is today. is today. first topic is where we can see first topic is where we can see