priorities being backwards? this is unfair to a lot of -- most of the people who rent. i live in a rent controlled building. my landlord is trying to harass me, and i won't put up with it. i mean, it's disgusting and you guys voted to 8 washington behind my house? which is behind my house? it's ridiculous. how dare you, how dare you cater to the developers instead of to the people. we should learn by obama's election. he got voted because he was for the people. you guys don't get it. when are you going to learn? thank you. (applause) >> next speaker. ♪ i'll be there to shake your house hand and i'll be there to share all your land plans when you make the, the impact make the impact fee city now, city now

city now i'll be there to shake your hand and i'll be there to share your impact plan when you can make the impact money fee shake your city hand share the plan share your city hand share all your city good plans >> thank you. next speaker. michael [speaker not understood] for the san francisco gray panthers and senior disability action. we are completely opposed to any kind of plans which allow more conversion of tics into condos. it's an incredible incentive to [speaker not understood] depictions, speed it up when there is a huge crisis of homelessness among seniors.

it's going to increase rents all over the place. it endangers rent control. do not do this. >> thank you. next speaker. gilbert crizwell. i am here from new district 8 and i'm not going to repeat the streets that i represent, but i stand with the renters of new district 8. and i think this is a banking issue for the tic owners and they should be heard in government audit and oversight committee. the bankers and mortgage lenders that have conned the tic owners, that seem to be a problem and there should be a hearing on that. and i'm against opening up the lottery for more condo conversions. thank you. >> thank you. next speaker.

you can just hand the card to ms. miller. hi, my name is christin henry. this is my son. and we're here to say we support this legislation. we live in a tic, we have lived in a tic for three years and we pay really high interest rates. it's a 7% interest rate with a prepayment penalty for paying your mortgage off early so, you can't refinance. i know that when we bought the tic we knew these were the terms and we agreed to them. but there is legislation on the table that would give financial relief to families like me. i've lived in the city 15 years, i work at a nonprofit. having an interest rate -- right now i pay my interest to michigan bank. there are only two banks that give mortgageses to tics that are fractional, one in michigan and one in ohio. the fact we're paying these high interest rates, all of these monies are not being funneled into san francisco, but out of state. a bank in ohio and michigan

were the only one that would give a fractional loan. they're getting the extra money. there are ways we could talk about solving the problem, but i support this legislation. >> thank you. are there any additional -- any members of the public who would like to make public comment? seeing none, public comment is closed. [gavel] >> president chiu, you have made a motion to continue this item by two weeks. >> two weeks to i think the 25th of march. >> okay. is that the correct date, 25th of march? great. colleagues, can we take that motion he without objection? that will be the order. [gavel] >> madam clerk, are there -- is there any other business pro forma the committee? >> there are no other matters. >> we are unshed. adjourned. thank you. [ adjourned]