be proud of. we look forward to working together to find solutions to respond to the housing needs of all city of san franciscans. thank you. >> any other? is there any public comment on this item? seeing none? yes, i see somebody. c'mon up. >> thank you, supervisors. my name fernando with the community of housing organizations. it's very nice to be here and after a lot of sleep less nights. i think what's really encouraging is that supervisor kim stepped up to really try to see how we would accomplish a goal of one thirds of all new housing to be affordable for people of low and motion tion to --

moderate income. as is titled in the pipeline report only 16 percent is only going to be affordable to moderate income folks. we need to understanding what is happening and begin to correct that to get back to a point. clearly it's going to be difficult. we no longer have redevelopment agency money coming in. if you look at currently before you pfw planning to build 30 percent affordable housing. we know it's not an impossible goal. what supervisor kim has laid out is a wide men u of items which i think will be a real game changer moving forward in the ability to move all area

plans including plans will achieve 43 percent going forward. i think the other piece that is also a game changer is for new development to pay fees that reflect the reality of the affordability gap and what it takes for high rises if they were to build units to help build that difference. again, thank you very much and looking foerld to seeing this in november more so the work that has to be done between now and then. thank you. >> supervisor, with the economic and workforce development. i just wanted to mention as somebody who has been working and trying to corral the members and working with many of the people in the room to create and brainstorm other strategies that we can do to address the crisis before us, i do want to

commend supervisor kim for paving the way to allow us to do this work. that is the most important thing and working together is a way to get that to happen. i also want to thank supervisor breed who has been instrumental in making that happen what the priorities are. i think all of the supervisors here we look forward to working with you as we get the piece of the package developed and instituted. i think we can get that done with some of those pieces in place even before the measure reaches the public. i think it's a wonderful solution. thank you. >> good evening, supervisors, sarah carlos skooe with spur. i would like to thank the board of supervisors for working so diligently and for the mayor's office. i had the pleasurech working on prop c, the trust fund several years ago. i think that was one of

the most successful affordable housing measures that this city has seen. the reason it was so successful is we that had opportunity to work across the aisle, collectively and everybody putting together their passion and skills to deal with this problem. this is the first step towards what's coming next to help us address this issue. i want to thank you for your work. >> good afternoon, supervisors. my name is malcolm young with the childhood development community center. i want to urge the board to support this joint measure. i want to thank supervisor kim for the hundreds of hours for bringing this to resolution and the mayor's office and their staff for their dedication to this. when you read that list, i realized you were reading my work plan for the year. we

will dedicate ourselves to that work plan. let me just say for me the most exciting component is the opportunity to create a neighborhood stabilization fund. this is something that san francisco has needed for years. during the recession, my greatest regret was whenever and no disrespect but when the lend beportfolio and the city was able to come in pavend -- purchase those and those living in affordable housing could stay there and be for low income class and households. we now have an opportunity to hit that dream shot. i'm really looking forward to working on it over the next year. thank you. >> my name is erickson. i

have been working on this with supervisor kim and the mayor. i'm so pleased that the supervisor has proposed this legislation. while this legislation is brief and doesn't contain all the details, just a little point on this thing. we have analyzed for example the fought -- future sources of revenue. there is $22 billion of construction coming online. that alone provides $200 million a year on tax revenues. a small portion of that could easily go a long way towards a $350 million bond for affordable housing. the use of infrastructure financing district is a terrific idea. we worked very hard on the erin rincon hill. the legislation has

lots of underlying elements to it that have been explored in some detail. i would strongly urge you to pass approval. thank you. >> hi, supervisors, i'm alice, director of community at -- i would like to thank you for all the work you put into this. i know it came down to the wire. i have a little bit of concern that we lost the clear mechanism to provide more affordable housing, but it looks like there will be work in the future to have both sides of the table and find the solution. and i'm really happy to see the work towards other issues of generality fiction -- general trifks jennifer that

will have a big impact. so there are direct projects that we will see impacted by this. i'm very happy that there will still be a ballot. there are a lot of voters and a lot of people who care right now. they care about the city. we have polls that show that there is a lot of concern. so i think it's very important to keep this an issue that people are involved in and can speak about it. so thank you. >> good afternoon, supervisors, tim can ullen on behalf of action coalition. i would like to express our gratitude to supervisor kim. i think it's a terrific step forward and it allows us to get to work on issues on which there is enormous common ground and finding solutions to the affordability crisis that faces us. thanks to the

mayor's office on this and as others have said before, the prop c coalition provides a wonderful model for how we can work together in collaboration for the ends on which we all agree. i think as was said, there are some tools that we have in place to leverage an enormous amount of leverage we have now. this is a great solution. you deserve credit for the hard work you have done. thanks. >>supervisor norman yee: okay. any other public comments on this item? seeing none, public comment is now closed. i want to thank you, thank the public for coming and this last minute thing. i just want to make a quick comment, supervisor kim before i turn it over. i'm happy that we are able to come up with a compromise. i know it is a compromise. i personally

would have supported stronger language, but i know this seems to what i'm seeing in this legislation it looks like a foupgs -- foundation to move us a little further, a little quicker. to me it's basically saying take a step back so we can move quicker in the future to do the housing crisis that we are dealing with right now. again, i'm happy to support this amendment. supervisor kim? >>supervisor jane kim: i would like to ask the committee to make a motion to amend for the language that is before you today. is it okay if i don't read the entire resolution into record, but i stated the desired the goal of declaration of policy. again,

us taking away this ballot measure is opening up the opportunity for us to attempt to work together on this goal over the next 2 years. i look forward to placing revenue measure potentially next year and look for other revenue options in order to fund the work we want to do whether it's permanent acquisition of housing to be affordable or to build new construction affordable housing. i do want to recognize of course from the mayor's office, jeff buckly and tam ka moss and on the community oeb -- and grace martinez and erickson and of course i do want to thank my cosponsors of housing balance, avalos, campos and mar and yee. this is something that

we all believe in but for the sake of figuring out a way if we as a collective can move forward in addressing the goals over the neck he d next two two 22 years that we would refrain from this. i would entertain a motion. >> i would like to make a motion entertaining the amendments to have this be a motion for order to policy declaration. >>supervisor norman yee: is there any objection? seeing none. the amendment passes. >> can i just, i forgot the most important for me to thank at least folks in public comment have thanked me for the hundreds of hours that i have put into housing balance measure. but there is someone who put in dozens of house, that is april. i want to thank her for the hours she's put

in this for the last months. >> okay. can we take a motion to move this for monday july 28. th. >> so moved. >> no objection, motion passes. thank you very much. madam clerk, are there anymore items on the agenda? >> that concludes our business for today. >> okay. the meeting is now adjourned. thank you very much. [ meeting is adjourned ] >> >> good afternoon, everyone

today is tuesday, july 1, 2014, this is the san francisco community investment & infrastructure commission i'd like to call this meeting to order at one 15. please call roll >> thank you, madam chair the first order. commissioner members please record >> commissioner ellington. commissioner mondejar. commissioner singh. commissioner rosales. chairperson johnson. all members of the commission are present. the next order of business is

announcements a the next meeting will be held on tuesday july 15th at 1 o'clock at city hall room 416 and announcement of the prohibition of the please be advised the ringing of and use of cell phones, pagers and similar sound-producing electronic devices are prohibited at this meeting. please be advised that the chair may order the removal from the meeting room responsible for the ringing or use of a cell phone, pager, or other similar sound-producing electronic devices. c nauchlt of the time allocate of the public members of the public may address the commission up to 3 minutes on each agenda item. it is strongly recommend that pubs who wish to address the commission please fill out a card and submit it to the

commission secretary. item 3 report an actions at the previous closed session if any. no reportable actions next order of business matters of unfinished business no items. the next order of business it item 5 the matter consisting of new consent calendar. first item 5 a the minutes of may 20th and 5 b approval of the minutes of june 3rd, 2014. >> thank you very much commissioner members should have received those minutes we'll take the public comment and discussion together and then we'll act on the items separately any public comment on that item on both sets of minutes. >> no comments.

>> thank you very much anyone have any comments or changes. seeing none, let's act on the first minutes the minutes from may 20th, 2014, >> i move we approve the minutes. >> thank you very much a second. >> thank you madam clerk wall roll. >> commissioner ellington. commissioner mondejar i ab abstain >> commissioner singh. commissioner rosales. chairperson johnson. >> sorry. >> 4 i's and one attenuation. >> slow it down i'll entertain a motion on the second set of minutes. >> so moved. >> thank you very much is there a second madam clerk call roll. >> commissioner members. commissioner ellington.

commissioner mondejar abstained i was absent >> commissioner singh. commissioner rosales. chairperson johnson. there are 4 i's and one at about stipulation >> next item please. the next order of business is the regular consent calendar 5 c for the xhifrping of the reagency of the city and county of san francisco community facilities district 7 hunters point shipyard phase one improvement not to exceed $40 million approving a preliminary official assessment and the constitutions of the statement and other actions properly relating there hunters point shipyard the confirming reduce the resolution number 47, 2014 >> madam director.

>> thank you. here we go thank you make secretary good afternoon to the commissioners and members of the public. commissioner as you recall we undertook those changes for the related acts for important this hunters point shipyard the development is well underway on the housing on the hilltop this is the final action at the commission level to approve the issuance of the bonds as well as the preliminary official statement. there are a number of other steps that will take place. this is the final action with that, i'd like to ask our hunters point shipyard project manager to present this item. >> hello. there you go. thank you make director chairperson johnson and members

of the commission for the hunters point shipyard. today, the commission is confirming the authorization to issue special tax bonds for the redevelopment for the hunters point shipyard phase one improvements in an amount not to exceed $40 million. i also will be approving the statement authorizing the official statement and paragraphing others action. for your consideration the hunters point shipyard we'll give an overview and lastly give you a forward look at marketing the bonds. ultimately we're seeking to refinance the variable rate bonds and on april 15th the bond process started the board gave it's approval and this is the

final commission approval for the bonds to be issued later this month. the shipyard will be developed in two projects including the hunters point shipyard and the candle sticks bay area totally acres in san francisco. this agreements for the agreement were executed in 2010 for the phase of the shipyard and candle sticks the cf d-7 and 8 are over the geography boundary which phase one and two this is the critical part of the financing the shipyard development and the issue before you there will be no authorization. we're going to look at the bonds not to exceed $40 million to replace the bond issuance as you recall the credit was needed no

2005 when the shipyards yard was being developed and had a low land dike he knew we wanted to convert this but explicit see that until last year but today, you'll hear the shipyard has over $20,000 shipyard and can support of the bonds. before we begin i want to give you a quick update we've got 4 hundred unit and approximately 2 hundred address 50 units are under construction today. i can see the blocks under construction outlined in the blue doted line. here are construction project

photos block 51 after the 2014 groung and excavation was beginning and by august and september the shoring had been implemented and the foundation footings were being installed. you'll see more progress here block 51 and the garage podium. and then today a few months ago we've got go buildings getting ready for their occupancy. under the cf d-$730 million bond were used for the parks and facilities and for the shipyard and the portion time were to develop the program and complete the bond and the cf d-8 was

formed. to determine the maximum size the properties were accessed the prior valued the property at over $127 million that supports bonds over $420 million this is the value to lean 3 to one that will exposed our minimal requirements of is lean ratio of 3 to 1. our cf d policy says if there's a less than a valued uniform we may get a line of credit, however, if there's no credit risk we get an exception of a line of credit. for the consideration of public

benefits the project is taking delipidated vacant, land and prouz new housing and jobs and parks and infrastructure and other benefits program. this is - my a apologizes the slides are out of sync. i'm going to go to the overhead.

so i'll begin again for the consideration of public bins the project is taking delipidated land and having new houses and parks and community benefit programs so the benefits to the city is clear. also there is on unusual credit risk by the 3 to 1 phase 1 benefits lane arrest has paid their takes and mainly the hilltop infrastructure is complete will be 3 hundred and

50 units last year and plans probation officer to complete the hillside development. lastly to the point of unusual credit risk there's none demonstrate by lane arrests great capability they've expended over $70 million on phase one and posted performance bonds and a guarantee they've demonstrated a commitment to the overall project. rewinding to april 1st we began to rephrase the 8 and 9 a m