as the housing successor. our plan as we complete projects we'll transfer them to the housing successor so we need to cod so it's a smooth transaction. we'll make sure we have a partnership throughout the project. in your paths you received a large spreadsheet that has a summer. i've caught the errors and i've tried to provide you with that. overall it gives us a flavor for the large number of the projects and our project areas. and we have nearly 4 thousand you units that on active pipeline. the majority are affordable.

you'll notice there's a difference between the affordable units there are manager units that may not be income restricted but over 4 thousand units by 19 projects. and in the active pipeline there are over 18 hundred units we're working on. this is an updated number from the spreadsheet but that's about $280 million on the occ ii. some of the money is in the prongs. that's total funding and many of those projects have been on the pipeline for awhile. we have a ways to go. we have what we call the fire chief pipeline we've not actively been working on primarily the shipyard and some

in mission bay and transbay that's in the future number. in addition to those projects we're directly funding we have a matter agreement such as the hunters point shipyard the d da has requirements for the market rate housing and a few projects that are finishing up so that's on the inclusionary pipeline spreadsheet and it's on the 16 projects over a thousand units that collected thouns units and one thousand to go in phase two of candle stick point. so funding you'll hear more about that in the next presentation but again, i circulated that it was about $280 million in total funds

concluding funds we've provided that leaves about 2 hundred and 20 million of that is fund we have to put in. we have several strategies to provide the funding some say current balances or payments we've accepted to received in the near future and various strategies to assess a bond precedes. so sort of help eliminate this i've done a preliminary balance to certain project which i'll show you in a minute and talk about tax exempt precedes that need to be treated differently. in the analysis we're still going through a lot of this, you know, will be 237b8d finalized

through the process and we'll be back with more information. we have about $870 million and they're a combination of expiating bond precedes and tax increment we're allowed to keep through the d dr process and we collected others through prior projects and now good we're going to spend the fund through number one tax increments and such. so you'll see that the first category of admin projects that includes everything that has no one been programmed but i highlighted this to say this is sort of my catch all bucket with missouri to get some deeper

research so we'll have this looked at better. it's also sort of a changing landscape. and then ass list griffith phases one through 4 we have the funding in hand to cover the phases 4 through 4 and it's a great feeling and mission bay southwest we anticipate coming before you this fiscal year or next mission bay south again, the things with the double asterisk this is the beginning of the funding that i'm using this balance we'll be requesting future fund we hope to have an rfp on that. project of we anticipate coming to you with a construction loan and the section 7 will be with section 6 and the rfp process

for 8 is underway and that's again reflected the balance. we actually have a small amount of pdf we've collected we may not have a use for in this period so we'll apply that to the next request so you don't sits on the balance necessarily. ii mentioned we have some bonds that need to be treated differently like $8 million from the previous bond recipients they're quite challenging to use in the finance world balls their tax exempt they have to be in the form of a grant and not a loan. grants can be tricky when you're using protecting tax credits you

can't leverage our tax credits on a grant and specific tasks you have to pass for the private benefit test. there are challenges within tax exempt that's why our housing program, you know, in the last eight or nine years a has been heaving focused on this. so the other reason why we hadn't moved in programming those yet is pursuant to the law we need to finalize the completion before the expose bond precedes. through the budget process we'll come back in the spring and have a proposal for eligible used to identify some potential uses and programs for the funds so we can

spend those on affordable housing. so that concludes my portion on the pipeline and budget. so, now i'll talk about the roles and responsibilities in the mo u. i want to go over what it takes to complete a housing obligation or housing project. i know first of all, tailors the overall project management that can include all those selecting the developer and providing predevelopment funding and providing construction funding and providing ground leases or others action as well as the compliance work throughout the project. and there's fiscal management piece and financial closings with all the lenders together he to complete the traction. once it's in construction it needs to be insured that the

plan is built to specifications and once it's built we talked about monitoring the lease of the sales and a applying little preferences program and we need to get to closing that project and transferring it to the successor. this is what it takes to complete a housing obligation for the ones in the orange asterisk is we light those. so the mo u we'll light their staffing in the fiscal management their assist ass us as needed. there are construction mrths managers who can monitor our project and the team what monitor and help with the

looergz and marketing and again helping with other uses. i want to show side to side our role as the lead in project management we have a role there are funds in our accountants but the day by day process of construction loans the housing development will be doing we'll be utilizing some of the staffing. missouri has construction folks we don't so we'll light their construction managers. and together we'll have the transfer to mow. and then in the transfer there's a little bit of work in your

memo we're going to come up with a certificate of perplex but most importantly we have to make sure everyone is on the same package nothing symshould be a surprise at the end of the day. so through the mo u we've created a pathway for mow to perform and participate through the loan under writing and have an opportunity to apply. those green asterisk will be for the mow housing successor and he then we'll do the transfer. the mo u has some additional terms and one was confirming the tax revenue bonds.

that's not really in our purview anymore so we used to be the issuer of the bonds but mow is the past manager of the 9 percent tax credibility and san francisco is very lucky as a city of i city and county we have our own tax credits and we've historically coordinated and mow spreadsheets. reporting is key for both the commission and a public and others stakeholders to understand you know how are we meeting our enforceable obligations. we want to be able to see who we are serving so this outlines oc ii will have the responsibility to the report similarly in the

past we reported to the housing development on the affordability levels and the basic information the funding we've put into those projects and separately we'll do a report on affordable housing and that's an important obligation we'll track that on its oppose. mow city has prepared a citywide report and that will include our data. since they're doing the day by day managing we've concluded they'll provide the report on the marketing outcomes for the projects as they finish. so what are our budgets around the mo u. our assumptions that o ii will pay the staff for their costs those financial closings and marketing monitoring and certify

of monitoring program. the current stimulates are 5 to $600 a year we'll have that broken down so you'll understand that. and that moss mo cd is responsible forbid the sear so that's our different roles and responsibilities in the budget. so our next steps are to incorporate feedback from the commission and other stakeholders and finalize an mo u and finalize the assumption and return to the commission and seek authorization to enter into the mo u before we turn it over to your questions and any public comment? i want to turn this over to our

staff. we have stacey and a couple of other staff i want to have come up and introduce themselves >> good afternoon. i'm tracy. i would be overseeing particularly the construction staff and the fiscal closing staff and sally mentioned we have the commissioners on our staff to help guide the projects through the construction. >> good afternoon, commissioners i'm benjamin i'm the cfo for the mairgz housing development we make sure that the financial transactions related to the housing obligations is tracked appropriately. my team is actually the groping group that's been making the loan disbursements to the

construction folks we have a lot of experience along with the program management staff that's our roll in this >> hi, i'm marie benjamin i'm the newest member of the management team at the mow h cd. i am the director of home ownership and below the market housing programs. i come with a lot of experience in inclusionary programs from across the bay area. i'm thrilled with my team that's been marketing and moving forward the oc israel's production line since 2012.

with that, i'll conclude our prediction if you have any questions, i'll be happy to answer them and i thank you for your time >> thank you very much sally. before we move to commissioners any public comment on this item >> i have two speaker cards (calling names). >> how fitting how fitting to set the example in which i'm here today. speaking on mayor's office of housing and mayor's office of community development. let me going back a little bit on history. you're talking about online 0 son lee used to be a staffer here. we're talking about everything this is a been transformed with the housing and african-american

pea a specifically from housing development. i'll looking at the successor to redevelopment so i'm going to call you all redevelopment you guys are not successors to me. we've got olsen lee who's not here. i don't know if he's a cousin of olsen lee olsen lee is doing everything from the western edition i can't get in to see the man a and you guys are talking about going to see himself him. i'm getting ready to do something i'm going to challenge the city and county. i have documents to testify in front of the of the state to say please help us the development is going to take care of us in

the fillmore i call it the field. you don't mention nothing about us we're shifted under the rugs and do what you want to do but we've been impacted by very development for 50 years and all of a sudden you feel you can sweep it under the rug and to the hell to the no. right now, i'm going to put dough briefs to stop hunters point view and everything urge dpo to have to come back to the sugar stacking shack. you've got to the state involved all of those folks are involved from the beginning so what do we have here we - you've playing a game on us. we're in a new era so in the

city and mayor ed lee and olsen lee and all the lee's are going to do this to me and my family? hell to the no. i'm going to go to the state my raise hell with jerry brown. he knows what the gentleman g did to your community. i don't blame you all you're not responsible mr. mayor ed lee is. >> good afternoon, commissioners and director. i'm oscar i'm a native of hunters . point. i am asking for the certificate of preference to be extended to

the grand kids and this commission can do that. the previous redevelopment commission was working on that before it was x-rated and i want that to take place with this commission also i want to make sure that oc i the other portion of this commission the housing that olsen lee sits on make sure i've been trying to go to the meetings but they also cancel they're meeting the times are earlier and i haven't been to go because they cancel them they cancel them because they don't want to hear from the community or extend those certifies of

preferences. i got a letter they're trying to black or blue the certificate of preferences. that's not going to happen. i've talked to people who have moved out of the city and they wish the grandkids to be able to move. if they hadn't come into hunters point we would still be there we wouldn't have to have this 2 to $3,000 for rent we're paying now. i was told in 1968 we paid for those projects. because when they built those homes they were coagulate for 4 or 5 thousand dollars they were - they paid that and more for those buildings and the navy gave people a relocation money

for $4,500 we want that extended for all projects whatever you guy's name are now. you know, we want those certifies extended that this organization. thank you very much >> thank you very much. okay. so i'd like to thank you. for your presentation today. i'd like to start by making sure that we focus the discussions first and maybe we can get to the m u itself. there have been questions about the specific programs that are managed by mo u such as a marketing programs for housing and the certificate of programs.

before we kind of into 3 i want to give the staff what they need as the mechanics of how that plays out and. let's start there. i want to open it up to the commissioners commissioner singh >> yeah. i want to know the preferences is it going to be time limited to close pretty soon. >> i want to pitting put that one on hold we started a little bit late. >> let me ask a question. okay >> okay. >> yeah. >> i don't have the exact information on the certificate of preferences program but we can get back to you on that question. >> it is going to be abolished.

>> why. >> commissioners when the commission approved the latest changes in 2008, and 9 to the preferences program it made certain chances for people to qualify for tomorrow a and c and provided for a that he had period of time of certify for the certificates to be honored i believe it's 2016 but there's a built in extension by the commission that was the approval for the certificate of approval program there's an outside dates it's not the successor wished to eliminate the program but it simply there is an end date to

the program and i believe there was a potential estimation built in. >> is it possible to extend it some more times there so more. >> i believe the authority of the commission is limited in that regard because of dissolution so it's in essence the mayor's office of housing is stepping into the shoes of the agency commission that took certain actions. the commission is limited in its ability to make certain changes to agreement post dissolution unless there's a certain criteria if you're making making agreements it's my understanding there's a different standard for the benefit of the tax

combiblths bs but it's a program the 11 dash 12 designated the mayor's office of housing office it designated a certain activity that's the certificate program and it's not quite a perfect transition because our obligations referenced that program that existed at the time of the very development agency. and i don't want - that's one of the reasons it's important i want to make sure we have the right staff when we talk about that program rather than just bringing it up. one of the things is 2015 was already an estimation so i don't want to speculate an what we can

think can't do. there's there's there's an enforceable obligation. we should but i know that 2016 was an estimation so we'll need to fix that we want to focus on the m l u. commissioner rosales >> i have a couple of technical questions. the mo u is for one fiscal year >> no until the parties decide to exterminate that. >> so the half a million dollars budget. >> that will be incorporated in our budget approval that's an annual amount.

oh, okay. so is mo u is continuing but the funding is for one fiscal year >> we'll seek to approve the budget through one cycle so the budget is not approved for the next year because there are no funding. >> okay. the other question i had was about staffing. i guess i'm not understanding maybe i don't know enough about the mayor's office of housing and community development. when i hear that construction managers are on staff there are construction managers on staff this is not there the dwp or getting - >> that's correct. is there one or two. >> there are two construction manages. >> and that's sufficient

personnel to handle that. >> we currently have two construction managers we're going going to hire a third. >> i guess just following on with that would there be a scenario where you'll contract out for that service. >> possibly maybe depending on the pipeline so, yeah we're going to look at adequate capacity. >> so is that a procurement or a process that would be subject to the cities local business ordinance for example, and - and a typically if we're going to be hiring we're we've we'll have to seek the services first, because we'll be