from the macalister project on franklin street and count down signals. the city college pedestrian connecter. all of those projects have decreased our total capital cost by $111 million. we've also have a couple of new expenditures for projects. one is the bicycle sharing strategic analysis report. this is a project for $25,000 that was recently requested by chair avalos to investigate the structures of a bike -- regional bike sharing program. we also have received an approval from this -- from the pa committee and from this board an appropriation for the bus wrack transit and that's an appropriation back in july to allow staff to complete the environmental phase. moving down to administrative operating cost. one item i'd

like to note is the salary and benefit adjustment. this was approved by the board in may of 2013. that's what approval from the study that was recently produced. in the last -- one of the last items is expenditure is the equipment, furniture, and fixture and i asked the committee -- it implements a new accounting system. we're looking at a one time adjustment for this fiscal year for 4,000 and we're looking to go live within the next six months. because of this one time project, we need to adjust the 20 prop k, 2013 strategic

baseline which allows tax proceeds to go toward administration, programming, planning and project delivery oversight to support the prop k program because the system will need to adjust this to 6.7 percent for this fiscal year. and last but not least, we have -- in other finances resources because of the large amount of expenditures we don't anticipate, there's no need for the $470 million issuance the bond and we're able to afford to start paying down our $115 million outstanding commercial program as well. it is great news that we can start paying this program and we hope to see to pay this program down in the next five years. with that, the cac received briefing of this item and had no -- we voted on this item. with that i'd like to

offer the opportunity for you to ask any questions on this budget and amendment item. >> colleagues any questions. seeing none one in the queue. we should open up for public comment at this time. any public comment on item number 6. seeing none, public comment is closed for item number 6. clerk, this is an action item. >> cohen. >> aye. >> farrell. >> aye. >> tang. >> aye. >> wiener. >> wiener absent. >> the item passes. >> great, this item passes. thank you very much for the presentation. >> madam clerk, could you read item number 7. introduction of new items. >> does anyone have any new items? seeing no new items. i like to take general public comment at this time. okay. seeing

there's no public comment. public comment is closed. madam clerk is there any other further business. >> adjournment. >> this meeting is (clapping) >> we're going to start off with the on and optional president of board of chinatown cdc. (clapping). >> we're so pleased you're here with the wonderful housing

projects. can you hear me? how about this one? okay. all right. . so you know all of those projects take a long time. i've got to note it's been 22 years. it's taken 17 years for the city to issue the questions of proposals for this site to be affordable housing. it took 4 years sirng since we were selected as verbatim or developers to get the 49 total. it took 3 different project managers and two different executive directors but i'm proud to say i promise you this project will be built under one mayor under mayor ed lee.

so it takes a lot of people to make a project like this but i'm supposed to announce the lenders because it's the money that makes agree project successful. okay. so we have from the mayor's office of housing (calling names) please stand up yeah. from sf mathematical we have john he's here. thank you, john. from the san francisco human agency their providing the important service grant to provide sober services (calling names) (clapping) from entity partnerships raymond and kevin.

kevin from silicon valley bank we have rebecca. from the california department of housing community and development they can't afford to bring people here from san francisco. the bank for housing affordable grant herbie young and a green grant from the home depot peggy. thank you all for supporting this project infinitely and now i'm going to turn it to our very own reverend. so i'm not going to give a speak. that's a sign. i'm not giving any long speeches but i'm filed with joy are you filed with joy.

great family housing for families that are almost homeless. it's a beautiful day go to our neighbor and say your beautiful. go right next to them. it's a beautiful day. i don't care about clouds we've made it through clouds. this site was a very tough time and reminds us of the earthquake and the damage of that and we're at a point it took a long time to get here what's the word in chinese? so it's really beautiful that's what do i is about out of devastation came hope and a great sunny of a lot of great departments and so that's why

you have to appreciate it and i'm not going to give a speech bay it's going to be 8 stories, family apartments and 3 of one bedrooms and 5, 3 bedrooms and it it is sewer passing blah, blah and, of course, they'll be providing a lot of special services. but we want to thank the project team. carl are you here? chuck and mike and john and casey and by the way, where is

chuck. did chuck make it? (calling names) tony, steven and also castro construction manager the construction manager put your fists in the air i've got pour. we want to thank the consulting team allen are, of course, he's here and applied partnership and charles associates and they told me to go this faster. martin raul and associations and linda hicks and the design jerseys tip i didn't and tommy mary and associates let's give

them all a hand human resources, of course, i not be in trouble if i didn't introduce the board. (calling names) gordon? are you in the house. let's hear it for the old guy. i'm not that far behind him. there are so many people to thank but heavy duty who did the heavy lifting on the staff side? but the housing development team we want to give them the spur hand and joy to the world. anyway, we really need affordable housing we're so happy to have a mare that cares

about it. this goes for our community. i envision a lot of the families living here. this is when real estate becomes more of a commodity but we need housing for san franciscans. all you folks be positive for once this is good stuff we should celebrate by batter up first t is kevin coma up. from raymond jeans. thank you. what was i was talking about this is a ground breaking in a true sense so anyways, i work

for raymond james we've raised about $4 billion to date and have become actually in california. this is our fourth project and we're truly committed to let midgets. we're one small component of this it took a lot of folks. the stronger organization working with our partner and a significant amount of support from the mayor's office. so we're certainly proud to be part of this development. i want to point out we've enjoyed working with the selling son bank they provided a large construction loan with a very attractive interest rate. i don't know if one of the staff

is here from the bank but they invested a couple of million dollars in the project and have a highly invested interest in san francisco. but again, all the credit goes to whitney and their team and also the mayor's office it made it easy to thank you >> very well you set the tone for other speakers. the second batter up john the wonderful collaboration and replacement housing oh, yes >> good morning, everyone this morning i'm representing the director of time fta. i know that ed and the sf mathematical you're probably

wonder why we're verified involved we were replacing many, many houses and that was a challenge. when norm mentioned households knowledge in a single room there were two households knowledge in one room and we're pleased to be part of this project where we're going to be partially funding for fourteen new homes and this is an excellent example of what and how city departments overcome exchanges when they come together under the leadership of mayor lee. we have opportunity and this is wonderful. fourth batter up, of course, is our own district also president of the board of supervisors

president chiu (clapping) >> good morning, everyone. so i'm going to be very, very brief first of all, i want to thank you. if you are looking at look around the crowd you're the village that is taking care of of the people of san francisco. there's so many folks to thank. we have a lot of the four letter words in san francisco but my favorite is cdc c. in particularly i want to thank for being our tenant and immigrants and families your why we're here today. i want to thank all our government and mayor lee to our state help and federal agencies, of course, our builders and

architect. i want to thank sfmta and thanks 90 to john and ed reiskin i was concerned where we were going to house the tenants that were displaced. and at least i think one of the greatest challenges fact or facts our city is affordability and this site is going to be a symbol of exactly how we do that for our families and former homeless individuals so congratulations and norman let's shovel some dirt >> our own mayor ed lee.

>> thank you norman and norman i want to thank you and cdc staff you guys don't get the credit but no matter what you're focused observes and the quality of life to i'm grateful to you. i'm very happy to join supervisor david chu and other agencies that have worked hard. john said something earlier about the subway and this project. there's much more and i think that ms. wu understand how we have to plan important the city. transportation and housing go together and they miss go together in the future. we've been taught for many, many years you can no longer build housing in areas where it's not

connected to great transportation systems payroll so we took this opportunity when we understood when the embark did care highway was going down we were sad and i know we were there struggling for the survival of the chinese community which this freeway went down. but we take opportunities to have confidence with people about what we we need to continue doing. this is why cdc forces those conversations to have to happen. this is just the beginning. 45 units of affordable housing but 18 of those are going to be dedicated to the formerly homeless. those individuals need to be helped in the city. we're building a lot of housing

and as norman referenced that might not be assessable to our community so we're creativity we're going getting that innovation going. i'd like 80 to see the city's official bird on the city-state site. that's itself crane. as gordon was whispering in my ears we're going to do the right thing keep the strong commitment to the affordability in our city and this is one of the examples to come we're already beginning those negotiations. and i've started that conversation and we're going to

grass what we need to do to build affordable housing for everyone. we need to continue to build and we'll work with the community on that. having said that i love this very great example that i think we're exemplifying for the rest of the country when we have is a possible displacement of valuable residents on wants center railroad site we take care of them. i want to thank the sfavd for bridging their lives all this period of time it was a very delicate thing we all want the central subway to exist in chinese town but sometimes, the

good can be bad unless we handle had conversation in a special way. we did that. awe midget a complicated election time we said we're going to take care of everybody in the city that's why the 14 residents is so important to be include on this site but being in an urban city and connecting that to housing. we've got some great advise being given to us on fourth and folsom and again city is leading the way and that's what chinatown is seeing that's what we're doing south of market with supervisor kim and we're doing

that with the brt having conversations about the stops and in the different communities. well, i like those conversations bogging base we're all trying to get intoefsh the success of this city. we shouldn't have winners and losers in this city. that's why this site is important because it's complicated and we like the complicates. bay 26 percent of the contractor on this are local people already being hired 60 percent minorities so the contractors as subcontractors are also incriminating the city while their building this wonderful project. we're going to have businesses on the waterfront they're going

to be welcomed with retail space and they'll have some needed open space for everybody to ask enjoy. we had this vision to get the site under our control because today represents what that control meant. i felt it with the willie brown center we kind of indicated that this whole corridor would be an exciting part of the housing and have more thing we do. i'm proud of the agencies that have come together. let's take the examples and tell the rest of the city and the rest of the country you can mold great transportation with housing and with the quality of life and get everybody to

participate apart appreciate all of you for being here today and the captain here keeping our residents save. by the resident of this wonderful part of our town our representatives i'm proud of the board. we're already remedy nifks candle stick and paul ma carton is going to be there. and i was a young guy when we had a concert with paul. but this projects is very important to all of us >> get ready for all those pictures okay. so coming up, of course, will the the mayor and chuck pail i didn't and jim and

kevin and olsen and rebecca cook will be the ones in the pictures with the shovels. i want to do this i want to do a blirgz and i always do is people's blessings in other words, you're going to join me whenever i say i change it let's see - offer very simple whatever i say we have come to you respond with bless broadway samson keep it simple whatever i say that so here we go. from the shaking of our foundations to building a new one we've come to. from the opportunity to build

new homes we have come to >> bless broadway. for the wonderful partnership, the project team and all of the construction workers we have come to >> bless broadway. >> and now may the spirit of peace and joy and all who have stepped foot on this corner that god has created it's going to be a wonderful community called broadway samson may i get an amen? okay. it's time for the pictures. may i get an amen? okay. it's time for the picturest

brandon. commissioner murphy. commissioner president ho. item 2 approval of the meeting for the february 24th meeting >> so moved.

second >> all in favor, say i. minutes approved. public comment on executive session >> i move into executive session. >> so moved. second >> second. >> we'll move into executive session and we get anticipated litigation matters. >> are we being broadcast. manny can you okay. >> are you ready? >> do i have a motion to recommend. i move to disclose in closed session the commission unanimously voted to approve the settle agreement