to 30,000 businesses. the fact that the new peril is capped a $250,000 in one year. it does mean that you are eliminating the risk of subsidizing a business. you are limiting their exposure to any particular growing business to $250,000. on that basis, i would estimate the cost per job is somewhere between $6,500 and about $10,000 a job. that would mean the job creation you could expect is somewhere between 150,200 50,000 job -- $150,000 and $250,000 jobs. >> we normally say if it is less than $10 million a year, that is not material for the purpose of

our reporting. supervisor farrell: next speaker. one of the offices we worked with was the tax collector to make sure we insure that this was a relatively small piece of legislation that could be implemented easy. thank you for being here. >> good afternoon. i do want to thank the supervisors for their willingness to work with our office. it will be straightforward for us to implement. this exclusion would be granted for all qualifying businesses that make a timely filing of their payroll expense tax returns. what is going to be helpful is this is gone to be automated as part of our existing tax return process. it does not require us to collect and track any additional pieces of data. that is why our costs were

relatively limited. we've started the conversations with the office of labor standards enforcement as to how we will incorporate the recent amendment to make sure that those businesses that have of finding against them for violating wage laws are not included. it is going to be a process very similar to how we handle other exclusions. i am happy to answer any questions. supervisor farrell: questions? thank you. thank you for your work on this. last, we have the small business commission, office of small business. >> good afternoon. i am the director of the office of small business. this year's small-business weak theme was saluting the heroes of our economy. -- small business week the

muzzling the heroes of economy. the commission heard reviews of -- the amendments you have proposed fall in line with what the commission would support. it would very much support what you were wanting to accomplish with that. the commission had the same similar findings as what was noted by supervisor campos in terms of this getting to our small neighborhood businesses and helping not only had with the underemployment, but also with job growth. just want to express our appreciation and responding to the need that -- when we have had the enterprise tax credits, we have heard from businesses, how come is not in our area? when we do sector based tax

credits, businesses have also said, why not our sector? this will cover a broad range. we are very much appreciative, thank you. supervisor farrell: thank you. colleagues, any other comments? we would like to open it up to public comment. still free to step forward and line up over here. i see a number of colleagues here from our small business community. everyone will have two minutes. >> thank you. thank you for introducing this. we truly appreciate it. the other part that is not looked at is when more folks are hired and folks are making more money, they will be in the community's spending more money. that comes back in a different way. there are also -- there are

other effects that are helpful in many aspects. i want to address supervisor farrell. you reached out and said, how can we do this? can you work with us? that was a wonderful way to do this. that way you got some input from small-business. the only feedback i got that was not 100% for this, what happens in november? what happens if things change in the tax structure? if you do not do something, who knows what is going to happen? we do not truly know what is going to happen. there is not a reason. just push forward, let's move it forward. again, i wanted thank you very much for what you have done.

we think is a wonderful move forward. supervisor farrell: thank you. before you begin, i want to thank the number of my other co- sponsors. in particular, supervisor elsbernd. >> good afternoon. i really applaud the supervisors for putting this through. being a small businesses, we are the folks who operate with two or three employees. it is usually a mom-and-pop operation. there are folks that do walking tours of around the city.

maybe she will be able to help somebody -- helper do this. one of the hardest working people i have ever seen. the guy is just amazing. we need to be aboard these people. i think that is what you are doing, -- we need to reward these people. i think that is what you are doing. i think you will find most like what they do. they like the community their work with. this is excellent legislation. thank you very much. supervisor farrell: next speaker. >> good afternoon, supervisors. san francisco chamber of commerce. i think we have to recognize that steps like this will have an impact on hiring. it is going to counter a decade

of very costly impacts on businesses. we have calculated in the last decade, it cost 50% more in san francisco than the surrounding area to hire an entry-level employees. add that up, and there is a disincentive to hiring. in 2000, there were 600,000 people working in san francisco. that recession brought it down to 510,000 people. we never made it back. in the last increase in the economy to that 600,000 level during the first decade of the 21st century. the first time coming out of recession san francisco's employment did not increase above the prior high point. even though unemployment is dropping. unemployment was four% five years ago. even though our total

employment -- we are working our way out of the national recession. we are leading the state of california. we appreciate this and support your action today. supervisor farrell: mr. maxwell? >> supervisors, i am the president of the council of district merchants. i want to thank supervisor campos and farell for pushing this forward. one big criticism of the payroll tax has always been that it is not -- when you get to $250,000, when you make that leap, you get presented a bill.

that is oftentimes been the criticism, it is certainly a disincentive. to give you a microcosm picture of what that looks like out there, it is actually, for the first time, we have not had are sidewalk sales as part of small business week. to have an additional employee on staff to be outside and watch your produce, products, keep an eye on that and be able to staff, it is just about impossible under the current conditions. hopefully, this is going to move that forward, create a lot of jobs.

small business is the backbone of the economy in san francisco. supervisor farrell: next speaker, please. >> good afternoon, supervisors. i was looking over today's schedule and i noticed that three out of four items were originally scheduled for budget and finance. for the record, i would like to oppose this because i think it is being misplaced into this committee. the last time i looked it said government audit and oversight. i look at these four items and i do not see any audits an oversight. unless you want to stretch the definition of the word audit and oversight. if you would like to -- if you would like some suggestions, we could try the department of public health. we could try all the drug dealing on the east side of the park. we could always revisit the

department of building inspection. i am sure does not want to -- i am sure the city does not want to get the fbi involved again. >> i wanted to say that i am very much for this legislation. i hope you are able to get this through. it is something the city needs. supervisor farrell: any other members of the public who wish to speak? just a few closing comments. the reason this item -- we actually have two fiscal committees at the board of supervisors. during budget season, that is the reason why we have a second fiscal committee. that is why we have these items in front of us. i just want to thank all the speakers who came out and the members of our city staff and departments to cannot to speak.

always have -- who came out to speak. san francisco is incredibly unique because of our different neighborhoods. small businesses are the backbone of our neighborhoods. we think this is an important piece of legislation. i want to thank my colleagues. supervisor campos: i want to add something. i do want to thank the lord 24th street merchants association -- lower 24th street merchants association. to make sure the perspective of how this would work on the ground was taken into consideration and to make sure that it was something that was done in the most expedited and easiest way to use possible. i want to thank them for their input. thank you, supervisor farrell. supervisor farrell: comments?

can we do that without objection? so moved. thank you, everyone. >> resolution approving the issuance of tax-exempt revenue obligations by the california enterprise developed authority. supervisor farrell: we have our bond associate. please come forward. >> good afternoon. thank you for agreeing to hold this hearing. the item before you authorizing the sale not to exceed $6.75

million. there is no fiscal impact of the city and the city is not responsible for repayment on the obligation. there is no budget analyst report. i would like to draw your attention to a typographical error on page two, line 23, of the resolution. it has 2010 as the hearing date. we held a hearing on april 27, 2012. happy to answer any questions. we also have representatives from live oak available. supervisor farrell: thank you very much. i would like to open this up to public comment. public comment is closed. colleagues, do we have a motion to move it forward. we can do this without objection. >> it looks like we need to

amend that resolution to correct the date. supervisor farrell: can we make a motion to rescind that vote? can we have a motion to amend the resolution to reflect the typographical error that was mentioned? ok, we had a motion to amend and send forward. we can do that without objection. thank you very much. chemical items #three and four together? >> ordinance appropriating $1,039,600 of fund balance and the marina yacht harbor operating funds to the recreation and park department. supervisor farrell: thank you. these are two items before us. the first is an approval of the appropriation for the marina harbor yacht fund.

the appropriations will go towards 36 new berths for smaller boats. enhances the west harbor renovation park that is currently underway. the second piece of legislation does a number of things. it codifies the existing fees previously approved by the board of supervisors in 2008. improvises a few other existing fees, clarifies the department's policy regarding the transfers. clarifies the time periods of the license that is now part of the legislation. we engage in a relatively extensive public process led by rec and park. i attended a number of community meetings, as did my staff. this is a situation where no one got exactly what they wanted,

but it is something we all can live with. i want to thank everyone from the community, from the yacht harbor, as well as the rec and park department. >> thank you, supervisor. good afternoon. i just wanted to add a couple of things to what the supervisor said and thank him for his leadership on both helping us identify the funds for the 36 additional slips and working closely with the voters. -- boaters. the harbor is currently undergoing a renovation funded by a loan from the department of boating and waterways. this 36 additional slips, which is an alternative and was voted by the voters as their most important alternative to find,

would generate about $157,000 a year in additional revenue. as far as the other fees, those were born out of changes to the rules and regulations that govern the marina, which were last updated in 1991. our goal was to bring those rules and regulations of to modern standards to reflect the modern marine debris will soon have at the end of this year. we are available for any questions. supervisor farrell: we also have the cfo of rec and park. any questions? >> good afternoon.

the fees in the legislation are codification existing fees except for the new transfer fees that are being part of the upgraded regulations. because these are existing fees, they do not result in new revenue. any revenue increases that would result would be included in the fiscal year 2012-2013 budget. on the supplemental appropriation, the maria -- the marina yacht harbor funds -- we recommend approval of the supplemental appropriation. we considered the approval of the fees to be a policy matter for the board of supervisors. supervisor farrell: ok. i would like to open this up for public comment. are there any members of the public who wish to comment?

please come on forward, two minutes. >> good afternoon, supervisors. i would like to voice the same objection, like in item number one, for items 3 and 4. realistically, just look at who is sponsoring each item. you can kind of include in directly that is being heard in this committee. if we're gone to hold financial items in an audit and oversight committee, it is ignoring some pretty important matters in the city like why there are so many unsolved homicides in san francisco. i felt pretty safe yesterday at the police academy. but then i think most citizens have that same feeling i had yesterday standing there surrounded by officers. i think we should have that for a hearing that justifies this committee. if we're gong to have hearings like this in the future for

audit and oversight, it is going to remind me of a certain movie i saw a few weeks ago. had an incredulous plot, i think they were called the three stooges, trying to save an orphanage. that is an unbelievable plot. if we're going to sit here and handled budgetary matters, i think that this kind of hard to believe, too. thank you. supervisor farrell: any other members of the public who wish to speak? public comment is closed. thank you for being here. the marina yacht harbor is a treasure. as we think about the america's cup coming forward this year, this project will burly showcase our waterfront in an extremely positive way. i want to thank rec and park. colleagues, can we have a motion to move this forward?

so moved. do we have any other items? >> meeting is adjourned. >> everyone deserves a bank account. in san francisco, anyone can have a bank account, things to

an innovative program, bank on s.f. >> everyone is welcome, even if you are not a citizen or have bad credit to qualify for a bank account is simple. just live or work in san francisco and have a form of id. >> we started bank on s.f. six years ago to reach out to folks in the city who do not have a bank account. we wanted to make sure they know they have options which should be more low-cost, more successful to them and using chat catchers. >> check cashing stores can be found all over the city, but they're convenient locations come with a hidden price. >> these are big. >> i remember coming in to collect -- charged a fee to collect a monogram. >> people who use check catchers, particularly those who

use them to cash their paychecks all year long, they can pay hundreds, even a thousand dollars a year just in fees to get access to their pay. >> i do not have that kind of money. >> i would not have to pay it if i had a bank account. >> bank accounts are essential. they keep your money saved and that helps save for the future. most banks require information that may limit its pool of qualified applicants. encouraging to turn to costly and unsafe check captures. >> i do not feel safe carrying the money order that i get home. >> without a bank account, you are more vulnerable to loss, robbery, or theft. thankfully, the program was designed to meet the needs of every kind, so qualifying for a bank account is no longer a problem.

even if you have had problems with an account in the past, have never had an account, or are not a u.s. citizen, bank on s.f. makes it easy for you to have an account. >> many people do not have a bank account because they might be in the check system, which means they had an account in the past but had problems managing it and it was closed. that gives them no option but to go to a cash -- check catcher for up to seven years. you want to give these people second chance. >> to find account best for you, follow these three easy steps. first, find a participating bank or credit union. call 211 or call one of our partner banks or credit unions and ask about the bank on s.f. account. both -- most bridges will have a sign in their window. second, ask about opening an account through bank on s.f.. a financial partner will guide you through this process and connect you with the account

that is best for you. third, bring some form of identification. the california id, for an id, or your passport is fine. >> now you have open your account. simple? that is exactly why it was designed. you can access your account online, set up direct deposit, and make transfers. it is a real bank account. >> it is very exciting. we see people opening up second accounts. a lot of these people never had account before. people who have problems with bank accounts, people without two ids, no minimum deposit. we are excited to have these people. >> it has been a great partnership with bank on s.f. because we are able to offer checking, savings, minimarkets, certificates, and loans to people who might not be about to get accounts anywhere else. even if you have had a previous account at another financial

institutions, we can still open an account for you, so you do not need to go to a check cashing place, which may turn to two percent of your monthly income. >> you can enroll in free educational services online. just as it -- visit sfsmartmoney.org. with services like financial education classes and one-on-one meetings with advisers, asset smart money network makes it easy for you to learn all you need to know about managing, saving, investing, and protecting your money. the network offers access to hundreds of financial aid programs. to help their eruptions, fill out the quick questionnaire, and you will be steered to the program you are looking for. >> who want to make sure everyone has the chance to manage their money successfully, keep their money safe, and avoid getting ripped off. >> it sounds very good. i think people should try that

one. >> to find out more, visit sfsmartmoney.org or call 211 and ask about the bank on s.f. program. >> now you can have a bank account. open one today.