modifications. we have had success in this arena so we are definitely in support of home ownership but not at the expense of this majority tenant city which is the case with this proposal. the authors of the bill say that tenants living in the 2,000 t.i.c.s will be exempt from conversion but that is not the larger picture which is that the city is a very red hot market with increasing ellis evictions, move in evictions and rising rents. the fact is that most of the t.i.c.s in the lottery were created by eviction of tenants from rent controlled apartments. it reminds one of shopping at wal-mart. yes, the goods are cheaper there but who's paying the price for that. it's been said that this proposal creates new -- no new housing units.

some t.i.c. owners complain that they can't get their units refinanced because of the ways loans are structured. ace feels there pain, but they must organize themselves in groups, and demand better mortgage deals of the 1% to open up flood gates and push people out of the city or onto the streets is not the answer. thank you very much. >> chair wiener: thank you. next speaker. >> thank you much again for being here and supporting us and to everybody out here. seems to be a lot of support for both sides. my name is cole. i work as an administrator for a music school, which is a nonprofit that's been going for 40 years. i am administrator and outreach director. i teach music to areas all over

the city and the majority of the people that work for me, or that work for us, are younger, poorer, musician creative types that if they were to lose their -- the housing that they have, one will be here later to speak, it would put them in a position where they would have to leench. when i moved to san francisco, i moved here because i felt this was a really special city, it had a cool about it, and an interesting nature, that was unlike anything else. i'm seeing recently that the rents, the way that they are, the makeup of the city is changing, and it's becoming something that it's losing its luster, in being the artistic community that it is. i'm worried that this proposal is setting up a slippery slope for other housing -- or property owners to kind of get their foot in the door and force people out, that will change the makeup of the city, not just the

elderly or disabled or the poor, but again for the people that kind of make it run, that make it interesting. so one other thing i would ask you to think about through our property owners that are up here to speak on this behalf i think we understand your polite, we want to live in the city. but if you had to foreclose on your home, and then join the renters market, you would be in just a rough situation as everybody else because a two bedroom home going for $4,000 in many of the areas that we live in is unaffordable and unrealive. i that we move on to get -- >> chair wiener: thank you very much. next speaker please. >> [speaking foreign language] >> translator: my name is -- how are you, everyone.

i have been living in san francisco for more than 16 years. this is rated as a very good city to live in by the united nations. but the two bedroom apartment for my son cost him $2,000. so if this t.i.c. is passed, everyone will have its own housing. only a house will not impede the development and the development of this city. i hope you people high up could

help us to make this dream come true, to own a house. we are looking forward to it. thank you. >> chair wiener: thank you very much. next speaker please. >> good afternoon, arlene tran, a long time visitacion valley resident in district 10 and spokesperson for the asian alliance. today, we have over 100 residents here to support this important legislation, in order -- in addition to the hundreds of signatures that we are gathering. although we have a very capable translator today, the problem is everything is one-sided, as you can see, because many of the people that we have today are mono lingual chinese. they really don't understand the total proceeding. so would you allow me to ask them to raise their hand if they support this legislation.

[speaking foreign language] >> thank you. before retire from 37 years of teaching in the san francisco public schools, i serve tens of thousands of low income families who have been asking for affordable housing for too many years. please, seriously consider the needs of the condo owners, renters, and the good of san francisco. this is a very balanced legislation. it is win/win/win for all and please vote for it on behalf of everybody. thank you. >> co-chair kim: can i ask you a question. >> chair wiener: supervisor kim has a question for you. if you could, for the folks who don't understand english, if you could let them know that we appreciate it if they didn't

applaud. if they want to wave their hands to approve. and, ms. tran, supervisor kim has a question for you. >> co-chair kim: you know, when you had talked in your speech, you had mentioned that you were talking about affordable homeowners and the future for everyone. i assume you're not necessarily represent ago group of t.i.c. owners that are currently looking for relief from their current situation, which may be higher interest rate loans but looking into the future that t.i.c.s would be a possibility for everyone. >> i am a member of the small property owners of san francisco, and we have lots of people in that area. the other thing is, in 2006, his i was thinking of having to convert my three unit building, but in fact i requested -- work

on that. but he told me the complication involved, the time limit, so i gave up. so i'm here to say although i may not do it personally at this time but there are hundreds of others who really need this service. >> co-chair kim: that are current homeowners. but your wish is that this is a beginning. >> yes this legislation will have money because you know that i have been working with this population -- >> co-chair kim: yeah, i know your work very well and i admire your leadership in the southeast sector of san francisco but that was my question. thank you. >> thank you. >> chair wiener: president chiu also has a question. >> i just had one comment i wanted to make, which was i know that you are here representing individuals and working with individuals who are mono lingual who may not speak english and i want to mention to the public that we do have language interpreters for future meetings if this is something that individuals need, folks could make a request of us, we have it

in our agenda, if we could receive your requests two days in advance to make sure we have an interpreter who can also provide headsets so folks can follow what's going on. if you wouldn't mind. >> is norther [speaking foreign] i apologize on your behalf that they were just sitting here without really understanding the whole of the proceeding. >> chair wiener: thank you very much. thank you. next speaker. thank you, ms. tran. >> good afternoon, everyone. my name is elizabeth d. young, i live in district 8, supervisor wiener's neighborhood, unfortunately. i am a renter, a long-time renter. my husband is terminally ill. my daughter is a graduate,

university of california-berkeley with two degrees. she cannot afford to live in our neighborhood. she can't afford to live there anymore. i live four steps away from a google bus stop. since the google bus stops have been all over the neighborhood, goomg, apple, intel, hp, they say people are willing to pay these young tekkey kids a 40% premium to live within 10% -- a 10 minute walking distance from a google stop. with you believe this. i live in a rent controlled apartment. my wonderful landlord died. i have new landlords who are big shot super million ayers and i really mean big time millionaires. i'm waiting from one minute to the next to find out what they're going to do to me. because although my husband is still alive, once he dies, and he will die very soon, i have no rights. they can ellis me out, do whatever they want. they've got the money. i am one of those persons who

fought very hard for bike lanes, who fought very hard to plant trees in the neighborhood, who fought very hard to keep dolores park safe, and yet i'm sure one of these days i'm going to get kicked out. and i am sick and tired of this, the way the people from the neighborhood have been treated by the likes of our dear friend, scott wiener. stand up for the renters. stand up for the people in the community who have made the mission what it is. all these kids, all they have to do is stand in line and get a ice cream cone in the afternoon, carpet the park on a saturday, sunday afternoon. they don't know how to cook. we don't know who these kids are that come and go. i cannot wait until the next tech bust. i can't wait until we see the end of this. >> chair wiener: thank you. next speaker.

>> [speaking foreign language] >> translator: good afternoon. my name is -- and i'm the president of community tenant association. we're the largest tenant based -- organization in the city and our 1,000 members are all low income mono lingual renters. we have 50 present and some are in the overflow room and we're here regarding our concerns on

the proposed legislation.

if t.i.c.s are allowed to buy back the condo conversion process these units will be taken out of rent control stock and will open the flood gate and incentivize the speculators. a lot of the tenants are low income and will not afford other places. i have also experienced ellis act eviction process and i do not wish this upon anyone to go through. also speculators will be motivated into the t.i.c.

market. -- the waiting list, we're concerned more speculators will jump into the market and -- to get into the condo conversion while empty. this will not create new housing, let alone affordable. we need to protect rent control housing so families will not be forced to move away. i -- the housing market. thank you. >> chair wiener: thank you. next speaker. >> good afternoon, supervisors. i'm going to be brief with my comment. let's not fool ourselves here. this legislation is not going to

do anything to increase the affordable housing stock here in the city. nor will it put a dent in it, nor will it protect rent control. according to state law the -- cycle of rent control is 1979. henceforth any building that is built beyond 1979 is therefore not qualified for rent control and -- under the state rent control laws. therefore we need to go and -- our laws here and get it clearer because there are -- costa hawkins and ellis act, all state laws. this is not going to increase our housing stock. it's diagnose to decrease it. millionaires and billionaires don't need financial assistance. they already have it. so what are we going to have. we're going to increase the poverty level in our city, decrease the housing stock that we have, and have more foreclosures, more ellis act evictions, and nowhere to house people. this is not the right direction

to go and therefore this legislation must be voted down. thank you. >> chair wiener: thank you. next speaker. >> good afternoon, supervisors. my name is stacy, and i'm here to tell you what this condo bypass means to me and my family. eight years ago i scraped together everything i had and purchased my first apartment. it was a tenancy in common. it was an exciting time and as a single woman i was proud to be a san francisco homeowner. i've had a baby and this is blake, eight weeks old. he currently sleeps in our closet because we have a one bedroom with no room for a nursery. when i look to the future and he's a toddler i don't see many options for us. we can't count on the severely backlogged lottery and if our -- we could go into foreclosure. because our home value is

depressed we would lose our nest egg. i have no idea what we are going to do. when i bought my place the city estimated the lottery would take five years. today that estimate is roughly 20 years. my family is suffering. i represent a voice in san francisco that needs to be heard. t.i.c. owners are not the evil people that the tenants union paints us to be. i'm not a million ai. i am not a millionaire. we are middle class families that want to stay in the city. please help us do that in passing this one time bypass. if we lose everything we will have to start again and it won't be and can't be in san francisco. thank you. >> chair wiener: thank you. again, i'll remind -- i know that there are passionses on both sides. i remind people to refrain from applauding, booing, et cetera. next speaker. >> i'd like to reiterate

everything my wife just said. we both love living in the city of san francisco. it's the best place i've ever lived. and we'd like to stay here, but our son and our growing family is forcing us to cram ourselves -- we're force to do cram our family into a one bedroom apartment. that's not tenable. and our options are pretty much we either lose much of our nest egg, or we try and cram into a one bedroom apartment. so my wife pretty much touched on everything that i have to say. i just have one point that i'd like to bring up to supervisor kim, and that is, one of the first speakers you mentioned -- you asked her if she owned a t.i.c. and implying that she didn't have a skin in the game and maybe didn't have a right to talk. i wonder if it that same question might be asked of

people who are renters presenting today. not everybody here is renting a t.i.c. so wouldn't that same logic apply? >> chair wiener: thank you. public comment. thank you very much. next speaker. >> my name is jake block, i live in noe valley. i want to congratulate mark and scott for having the courage of their convictions to stand up for young families and homeowners in this city. the issue i wanted to address today is when i bought my house in 2007 i think the city was somewhat complicit in working with predatory lenders who lend to young families, buying tenancy in common, and promising assumption provisions and other rights of transfer, that they now backed off of. in my particular case, our house was appraised -- our three unit building was appraised for 3.2 million and issued a loan by waw

cove yeah. wachovia sold our loan to thornberg and sold it to the third servicer in the last five years. we tried to act on our assumption provision within our loan, and the assumption provision was denied by the servicer and they told us, they dared us to sue them. they said they would outlast us until we hit our balloon payment. as a result, we've tried to refinance, and our building that was valued at 2.1 million over the summer was valued at 1.3 million. and the reason it was valued is because as part of this mortgage fraud that i believe occurred -- or is still occurring, they want to deflate the value of our building so we can't refinance because we're good on our 6% payment so why would they want us to refinance down to 3 and a quarter percent. the the issue we've run into a

three unit with two unit occupied, we have no options. we can't refinance. we can't rent or run the risk of falling on tenancy, and the lotto conversion process, and then our third option is to declare bankruptcy and let the banks win. i would ask you to stand up for homeowners and fight the banks. thank you. >> chair wiener: thank you. next speaker. >> thank you, supervisors, for introducing this legislation. my name is tina, i am a t.i.c. homeowner, i have been a renter, i've moved 11 times in my marriage, raising two children, cities like washington, d.c., london, silicon, valley, san francisco, and i think i'm a reasonable, pretty collaborative person. and no one has ever been removed

from -- we moved here six years ago and no one has ever been ellis acted. we may our taxes. and we're not going anywhere. we're here for the long haul. but we see people in our building who have sold, and our building renovated sold in 10 minutes to us, and other people who bought. but it's taken over a year to sell them because of the hoops the banks make the new buyers go through. and i just think it's the next right thing to do. and i love to see $20 million go into affordable housing. thank you very much. >> chair wiener: thank you. next speaker. >> i want to -- mike muylan that was my wife. i agree and support what she said because it's better off for me. we live in a t.i.c., it's very diverse, and the occupants in both jobs and ethnicity, we have

chinese, vietnamese, people in marketing, we have a landscaper, and some that are semiretired. i looked up data from 2010 and it looked like at the time they said there's 65% of the units in san francisco are rented. that's 220,000 units and 35% are owned. that's 123,000. so this legislation, which is about a one-time -- roughly might be 2,000 units, is less than 1% of the available rental units at the time. i'm a little concerned about people talk about the speculators. well that's more down the road. we're talking just a one time conversion. i do think needs to be some reform done to the condo conversion anyway, as well as, you know, enforce the rental thing. our son rents in the city. he's rented one unit for 10 years. he's a chef. he's not going to be able to get kicked out of that unit, he's

not going to be able to get someplace somewhere else. looking at the paper, the concourse, they're going to put up 850 parnlts there, mission bay will have apartments. so i see the apartment thing is growing. i don't see the t.i.c.s growing nor a lot of help and support for those that are currently there. thank you. >> chair wiener: thank you very much. next speaker. >> good afternoon, supervisors. i am bill hanon, president of the golden gate tenants association in district 3. i'm very happy to be living in rent controlled housing and very happy to have david chiu as my supervisor. my neighbors, i believe, support rent control. they oppose any step that would lead to a significant decrease in the supply of affordable rental housing in san francisco. and i'd like to ask you to vote

against in proposal. thank you. >> chair wiener: thank you. next speaker. >> good afternoon, supervisors. i will keep this short since it's been a long meeting, there's a lot of people behind me. i want to thank supervisors farrell and wiener for proposing this modest legislation to help t.i.c. owners while at the same time protecting renters. a little bit about me. i've lived in san francisco 35 years. i am not a speculator. i've been in my building for more than 20 of those years. i am not wealthy. i gave up a more lucrative career to work for a nonprofit so i don't make the money i used to. my co-owners of the t.i.c. are a young family with a newborn baby. they want to stay in san francisco. city hall talks a lot about keeping families in san francisco. but there's rarely legislation to do anything about that. this is legislation that will actually help families stay in san francisco. and i urge you to support it. thank you. >> chair wiener: thank you. next speaker.

>> howdy. my name is ian -- of some disclosures. i own a two unit property in san francisco which is both my home and a rental property. a previous owner of the property i know created a covenant with san francisco which disallows division of the property into condominiums. the wiener-farrell proposal does not potentially benefit me. i regard the rent control ordinance as the cause of, although not the sole cause of, and not the antidote for high rental cost in san francisco. supervisors wiener and farrell, i'm supportive of your proposal to allow condominium conversions. it is refreshing for san francisco to offer a carrot to rental property owners, a mient group, providing an essential service which since the imposition of rent control in 1979 has no -- more the stick. the other supervisors, my 6th

grade teacher said democracy is not ruled by the majority but rather ruled by the majority with respect for the minority. ruled by the majority with respect for the minority. my 6th grade study occurred in canada. maybe democracy is defined differently in america. previous city administrations created ordinances pertaining to rental properties which benefit the majority tenants, when rental property owners fled to the exit previous administration blocked the way by imposing restriction on condominium converse. again tenants ruled. most tenants have never owned rental property, they've never owned their own homes. san francisco has been allowing lunatics to manage the asylum. in the loancy vein is my own story. i was returning to home at 1 am when i encountered a neighbor on the street weeping. i asked what was wrong.

he told me his mother ousted him from his home. i invited him to stay in my vacant garage -- thank you. registering my support. >> chair wiener: next speaker please. let me call some more cards before we start your clock. chang ying, brian bassinger, charles minister, cazu anzel, transis ca, andrea danger, steve wu, rine tha thanker, margaret , sandra, julie, dan,