>> president mazzucco we are back in open session and you have a quorum. >> thank you. >> do i have a motion with reference to disclosure or non-disclosure of the items we handled in closed session. >> i move to not disclose. >> second. >> all in favor. >> aye. >> there are no nays. >> okay. >> and adjournment, and item ten, adjournment. >> it is late. >> for the members of the public. >> all in favor. >> aye. >> aye. >> thank you. >> i don't know. >> aye.coming.

(clapping.) >> welcome i really want to welcome everyone here today, i'm gail the director of the housing partner and welcome to the navy apartments this helps homeless people secure housing and become self-sufficient and one hundred and 20 units of newly constructed housing. there are so. people to thank for the project it takes a village to make this from sour state and local partners and to the hard working staff of community housing partnership for each housing your housing and the staff that helped us like our catherine gonzales

folks make it happen renée spent over 20 years committed to the partnership from the foundation of planning back in the late 1980s and have renée knew that permanent housing should be in every neighborhood in san francisco not build in decided franchised poor neighborhoods but integrated into san francisco. the folks who will hear at r.c. a haunting to have a community built up around and welcome hundreds of homeowners and rental housing members and others people into their community and be able to say we were here from the beginning and helped transbay. i know that many of you knew renee and please thank his

family and without all of you housing is not possible. it's my honor to invite to the stage our co- developer and ceo of bridge housing (clapping) >> thanks gail i really appreciate that and so appreciate having been a partner and continuing to be a partner with you. well gosh wow. what a crowd hello, everybody and thank you for coming. we have this as gail has said it takes a village to put those things and obviously this whole village is here today so, yeah. i wanted to thank you for the opportunity first to recognize an important gift i'm not sure if they're all here mayor ed lee i don't think has gotten her yet

supervisor jane kim. we have the san francisco commission on community investment and fray both their board thank you for your help and the san francisco mayor's office of housing and community development and a number of people terry is is a is here and bill from the california tax allocation committee thank you bill for attending and speaking and les la from wells fargo and quickbites coffee 10 from silicon valley and a gentleman from enterprise and thanks for you're sponsoring today arrest bridge housing is also very happy that we have just at the end of last year celebrated our 30th year of housing development in california and in san francisco our headquarters and

we're very, very pleased to have partnered with cpi on this building we've been developing housing as i said over the last thirty years put tooth over 14 thousand unit we are committed to see investments like this moved there's a huge need for housing no our community. the need for affordable housing is more than ever needed with the skyrocketing rents with 7 thousand people who are homeless living on the streets and getting into the market rate housing is more difficult. the price of a housing unit down the street here in transbay is approaching close to 5 thousand dollars for a thousand square

feet apartment and so for the people to be able to move into a facility like this and live and have a beautiful place plus the services it would only take a community like inform to provide the sort subsidies and with the help of the state and the tax allocation committee that's a true testimony with our participating with chp we stepped up to an rfp and the chp we have expertise in many areas and we actually divided up our responsibilities we're taking on some of the financing roles and some of the activities around capital budget and overseeing the project construction and chp has a lead region for the architecture programming isn't it beautiful by the way, and the

planning and service integration. we couldn't have asked for a better partner and thanks again dale and the chp for all you've you done and i'm proud this building is so energy efficient. just recently, we earned a green point rating of one hundred and 87 points it's a super green. and i had have to say it falls in line with the bridges goals they've taken steps to set an ass primarily goal for a 20 percent savings. so this honestly didn't mean that state far steadies that. this grand opening is an incredible milestone indeed a

village so thank you all for coming. with that, i want to introduce our next speaker who is someone who is a good friend of housing and a good forensic to bridge and thank you bill for coming all the way from sacramento to san francisco from 90 degree probably sacramento to 83 degrees san francisco and welcoming us here. please bill from the tax allocation committee (clapping.) >> welcoming well, thank you and it sound like i'm coming such a long way from sacramento but taking the commute i feel like that i'm glad to be here and extend bills congratulations eased to bridge housing and to housing partnership i should mention in sacramento when your

two organizations are involved in the developments it's going to result in quality and provide a benefit for decades to come so again congratulations. the other thing i want to emphasize is this development really alliances so closely with what we're trying to accomplish in the area. - better? can you still hear me. this development alliance with so closely what we're trying to do with the tax in san francisco we've tried to emphasize developing for housing for populations with rofbts sites. i'll give you exhibit a going to provide wonderful services for folks who can flush in an

environment like this. i also want to take a half step back in case you don't know the tax committee we make low income tax credits available in this case we made what we refer to $2 million of annual credits it's $20 million of tax benefits over a a 10 year period this is $20 million of private investment to help gets the project done and we're proud to be part of this investment and want to do much more business in the future in san francisco and with our partners and want to commend the other personas partners who worked closely with the developers and us especially enterprise community investment and wells fargo as well as the

silicon valley bank those are the good committed entities that have the good in their minds as they work with the developers and rental housing. and congratulations to the residents many years of happy life to come. thanks (clapping.) thank you. i'm rich with enterprise my goal is every one for those who have the nonprofit oxygen's we're one of the leaders around the country and one of the largest investors in the affordable housing around the country. affordable housing is in the noose everyday in the newspapers and blogs in the new york times and in san francisco and it's

new people are being forced out of the homes we're losing our workforce housing and we have an economy on stories that's creating that but homelessness is not new if they're around for a long, long time it is an effort it should be in the news such as the things that are causing the kind of 5 thousand dollars rents so it is really critical. there is so much going on there are many homeless people h that is a critical problem that bridge is taking a really good step with the project this negotiates project and it was mentioned about the green it should be mentioned there's a chart on the wall it shows all the green aspects of the project and it's really fantastic.

one of the things in san francisco that's really critical we have really strong affordable housing developers and a city government that is strongly behind affordable housing. we work with people all over the country there is no place that has the capacity of the nonprofit be developers has or the commitment from the city to really work at omaha. and it is such a pleasure to work in the bay area of san francisco. my religious position we had a holiday called pass over a couple weeks ago one of the stories is about the prophet alias for those you have you who know i should be holding a glass of wine but it's a long story the end of the story basically

equalize will come back each generation and not as a poor person in rags and severely homeless and poor the treatment he receives will tell you whether the world is ready for the dawn of peace. 2 reminded me when i was walking here if equalize were here he would be happy. so i'm up here and as you know i know we are on the finance world and the technical systems and know the real sweat and blood comes from the developers they work for years and years to create a project like this. i think i have been to the heath's with the market rate developers over the affordable housing issue and i can't actual boy i won't do an affordable

housing project its way harder than projects. i have so much respect for the developers who work for 10 years. if you look at the program you'll see every one of us has a 2 hundred item check list there's is property management and the other things that those developers sweat blood over so thank you bridge for letting enterprise be a small part of this negotiates part >> i want to introduce our colleague from wells fargo bank. >> thank you rich. i'm on behalf of my team the community investment of wells fargo bank i want to

congratulate everyone who worked so hard to get in project done a place where people can call home it's truly a beautiful property. i want to say a special dwragsz to the contingent bridge housing as was mentioned we say have a long-standing relationship with bridge and the chp we really appreciate that and look forward to doing more affordable housing projects here. at wells fargo we're deeply committed to our community and remain imprinted to have funding for the affordable housing here and in other polygraphs. in 2013 wells fargo invested almost 3 and a half billions of and in san francisco we provided $36 million. we believe like rich said and others the collaboration between

strong city agencies and state authorities and private enterprise can tablely improve the quality of life and this project exemplifies it so congratulations wells fargo for being a part of that i want to introduce christen she's with a bank (clapping.) >> thank you leslie. yes as leslie said i'm the manager of the community development financial group we do the witness grants for the affordable housing. we lend to the technical companies we have lend on affordable housing. the affordable housing is definitely the most important part of our business and our

senior management supports what we do particularly in san francisco. so our involvement in the financing with a one million dollars h p from the federal home bank of san francisco so thank you if there's one here from the bank and we provided a $5.6 million participation in wells fargo construction loan. i'd like to thank my staff that worked on the project (calling names) and it's also one of the best parts of my job to come to the opening of one of those projects. the other speakers have said it's such a major effort from years to years from the construction to the beautiful day of the opening. it's one of the best parts of my job to see it and have a project be a reality because it takes so many good people all you people

auto u out there that come tooth to make a project happen thank you very much for your commitment and building this affordable housing. so it's wonderful to be here to celebrate the finished project and see the deserving residents and what a difference in their lives to celebrate what bridge housing has done and f b e ore tag line is nothing we'd rather be doing nothing we'd after be doing than financing and being a with the bridge housing >> i'd like to introduce the next speaker i'm pleased to be able to welcome this gentleman who is a person