item 7 >> so yeah, so we would like to do is entertain that and supervisor mar a motion to send item 6 forward to the board and a final item number seven. >> so moved to move item six with a positive recommendation and to file item 7. >> okay. >> we have a motion by supervisor mar and we can take that without objection. >> thank you very much. >> just to recap, on item 6, the committee is recommending that to the board of supervisors and item 7, the item will be filed and this, and the motions are passed without objection, and with the supervisor tang being absent. >> correct. >> okay, mr. clerk could you call eight? >> resolution authorizing the may or's office of housing and community development to accept and expend the cal home program grant from the california department of housing and

community development to expend the program income from the associated loan repayments to assist low income first time home buyers and low income home owners in the total amount of $925,000 for the period following the approval through september of 24, 2017. >> we have the mayor's office to speak. >> good morning, i am maria benjamin and i am the director of the home ownership and this is an accept and extend request for cal home grant from the tait of california. and that we were successful at receiving for 925,000 dollars. we used this grant and we have been receiving this grant since 2004. and we have been using this grant to help fund our down payment assistance programs for

families under 80 percent, median income and purchasing a bmr, or for our rehab program to help only owners in that same income category to make repairs on their home, with this grant we will be able to provide eleven down payment assistance grants. and i am sorry, loans, and we will be able to rehab six homes, with this 925,000. and we will, and the way that the money is split up is that we will use 650,000 for the mortgage assistance and 265,000 for the rehab. >> okay. >> great >> thank you very much. >> any questions? >> okay, thanks for bringing this forward, and open this up for public comment, anybody wish to comment on eight. >> seeing none, public comment is closed.

>> so i move a positive recommendation of this resolution. >> okay, we have a motion by supervisor mar and take that without objection >> this item is recommended and i would like to note that it was passed without objection with supervisor tang being absent and can you call 9, 10, and item 1 on our 10:05 on the special meeting. yes. item one approving the form of the official statement of preliminary and final form of the continuing disclosure certificate to authority the city official to take the necessary actions in connection with the authorization sales execution and delivery of the refunding certificates of par participating series 2015-r1. and item number 9 from the ten meeting of the budget and finance subcommittee, approving the form of and authorizing the

distribution of the preliminary official statement relating to the execution of the city and county san francisco certificate participation for the war memorial building seismic improvement and item ten, amending, 284-14 to authority the sale of not-to-exceed $24 million aggregate principal amount of city and county of san francisco taxable general obligation bonds series 2014 c. >> you got item one on? >> yes. >> is there. >> okay. >> we have now to say on these items. >> thank you for having me. and the first item that i will talk about is the refunding certificates of participation, and 2014 a. where we are asking that the board approve the form of the statements and preliminary and final form and to delegate to the controller, the up dates as necessary so that it will be in

the final complete form for the distribution the board approved, 206 million of the refund certificates of the participation and in april of 2014, we issued the first refunding of the certificates on it for about 47 million and we had it in the phasing up about 9.8 percent or the 4.8 million and so what you have before you is the second issuance under that authority, for the city office buildings and the 2007 a, and the least acted under that bill and the transaction is 1000 and, one that propose and introduced the documents to the board last year or two weeks ago the market was in our favor and the savings would have been about 7 million dollars, or for 5 percent, and the market has since moved away from us, and it is gone below 3 percent and so what we are asking is that

you allow us to continue the money so that the market and if we are able to achieve the 3 percent savings we will pursue and proceed with the transaction. and what is most importantly i wanted to highlight some of the changes from the official statements in the passed we have seen updated the official statement to include the issuance of bonds. and that were issued in january that relates to the responding bonds that was approved by the board. the up date to the state of california budget and the controller three forties on the six month and the nine month report as well as the 5 year financial plan and the ten year capitol plan and we also have the forms of the official notice, and the notice of intention to sell as well as the continued certificate to buy approving of that transaction you are allowing us to make the forms to the package and complete and the accurate final forms of distribution to the mocker ket.

and next is the certificates of participation for the war memorial veteran's building and the improvements and if you recall that the board approved this item in 2011 and we nr front of you today to again allow us to present the updates to the preliminary official statement that is in the final form that has been included of the other items and updates and the board has approved the items and saying that with in the times of the mayors and the controller's budget report and the five year financial plan and the ten year capitol plan and what we have been doing is we have used the commercial program and we have used approximately 98.5 million, in commercial paper notes and we are almost at 100 million and so we now requesting that the board approve the statement and those will go down to the commercial paper and funding the remaineding of the project, and of the size of over 25 years, and with also, we are

asking that we include the 14.5 million that the board approved in 2014 that assumed the proceeds from the transpired development life that no longer are available or the revenue are not come ining as anticipated (inaudible) and it will not change the impact to the general fund and the analyst that will be see to be approximately $9.4 million over 25 years i have beth here from the war memorial to speak if you have any questions to the project. we are excite and almost there, and we are expecting to get substantial completing in july of 2015. >> the next item is on the seismic safety program and the board approved in 2014, this is the collaboration with the port and the mayor's office of housing and the developer or the development and this is

with regards to the buildings at pier 70 and we initially had assumed that we would be doing a fixed rate bond, but we are now proposing to do a rate and a private placement bond and what that means is that it allows us the flexibility to be able to prepay at any time without the penalty, which is for the arrangement with the port and the developer, by doing and we have negotiated with the bank and sent out the rfp and we awared to the bank and the association and it is a five year direction alpha celebrity that is renewable after five years. and it is price based on -- (inaudible) the (inaudible) plus a spread of 58 (inaudible) and with the current rate, the rate would be less than 1 percent of approximately 76

percentage points, so what you have before you are the forms of the deck declaration of trust and we are here in the audience and ready to answer any specific questions that you have. >> okay. >> thank you. >> appreciate you coming forward with all of these items. >> colleagues, we do not have a budget analyst report on these items. we will open this up to public comment, does anybody wish to comment oit ems 9, 10, or one from the 10:05 special meeting? >> okay. seeing none, public comment is closed. >> so thank you, for bringing these forward. and it is great to have a number of these things refunded and also, the new items forward and look forward to that completing, and for memorial for sure. >> so supervisor mar? >> yeah, approval of these two items 9 and ten. >> okay. >> and we also have a motion to approve item one from the 10:05. >> yes, and item 1 from the special meeting from 10:05.

>> okay. so we have a motion by supervisor mar, and taken without objection. >> and the motion was to recommend the matter to the board of supervisors, and without objection. and i would like to note that supervisor tang is absent at this time. >> yeah. >> could you call item number eleven? >> item eleven, ordinance waving the fee requirement by public works code for temporary street space occupancy permit on certain designated city streets on may 16, 2015, and may 23, as part of the small business week sidewalk sales. >> thank you. colleagues this is an item that i did not sponsor this year but it is something that we do and i would like to welcome the director of small business in san francisco. >> thank you, and so this is the annual the eleventh annual sidewalk sale that the offices of the small business and the small business commission hosts

in support with the board of supervisors and thank you supervisor farrell for sponsoring the legislation this year and we are doing two weekends this year, and due to the timing of the small business week following some of the merchant core doors that want to take advantage of the memorial day weekend. and so, thank you, to the supervisors who so that they would sponsor the two weeks. and so, less than two weekends we have a total of 716 block bases that we are asking a fee waiver for. and totaling, proposed weekends, and 44,536 and we have a total of 18 merchant corridors participate and for the first week on may 16th and six of those are repeating doing the sidewalk sales on excuse me, five are repeating and may 23rd and the as troe merchants are doing their on may 23rd. >> any questions.

i am happy to take that. >> thank you for being here. appreciate it. >> thanks to looking forward to small business week >> seeing no questions, we will open it up to public comment, and seeing no one else in the chamber we will close. and supervisor mar could i we have a motion >> i move to positive approval of this. >> okay. >> and we have a motion by mar and we can take that without objection. >> the motion is to pass without objection and note that supervisor tang is absent for this vote. >> okay. >> so, smr clerk, do we have any other business? >> that completes the agenda for the 10 a.m. and the 10:05 a. thank you, we are adjourned..

>> it seems like everyone in san francisco is talking about housing san francisco housing prizes are among the highest it tops anyone million dollars and

rent rise unfortunately, this is not the first time housing has been in the news thought california the cost of a home has made headline the medium prices for a house in the the $207,000 in california it is more than twice that amount and the laura u bay area is higher it's more than doubled the states so while more than half of the americans can afford the medium fewer in california and quarter in the bayer and now fewer than a 6th of san franciscans can afford it so why it housing in san francisco so go cheven condition tharz the obviously a high demand to live here the city is known for cultural diversities that attacks new residents and the

credible opportunity our city diverse and will daytime committee grows jobs as a result we estimate the number of jobs is at ann an all-time 0 hive of 6 hundred thousand in the 80 the population was 6 hundred and 75 thousand now, it's grown steadily and quickly the recent estimate is 8 hundred and 40 thousand the highest in the city's history and it's not only san francisco it is greek the bay area has $2 million for residents and jobs then in the 80 and the growth is expected to continue by the year 20403.9 million people unfortunately, our housing supply does not keep up with the demand i might not realize the majority of

construction is housing that's been suspended for years due to the 2008 recession while population is increasing the housing is only increasing that i 9 percent if we don't pursues housing the cost of housing about only increase how do we plan the regional allocation identifies the total number of housing unit by affordable level to support the new residents san francisco incorporates it into the housing elements that guides the housing policies the arena data places it in the investment plans for the growth throughout san francisco those plans developed by years of community planning laid the ground work for the construction so the city he e sets the goals in broad terms the private

sectors builds market rate housing and non-built affordability housing that majority of housing in san francisco as well as throughout the country market rate houses built by private developers within guidelines of the city some below market rate you howls paid pie public and private dollars and prized to be variable to certain population housing is considered affordable if it costs less than 1/3rd the medium income for a 2 percent householder is $70,000 this householder will have to pay no more than $7,150 to be affordable san francisco has see long applied federal, state and local money often built and nonprofit tint for individual

families the news cities in california what the inclusive program requires that 10 or ottawa more units to certain blow income levels or contribute to the fund that supports the blow market rate unit almost 25 thousand have been supported by city funds and more than 6 nous thousand of the unit were built between 2000 and 2012 what you can't afford a million will home you're not alone in response san francisco mayor ed lee has set a goal of creating thirty thousand now e-mails homes by the year 2020 most will be in outreach of the san franciscan with federal and state funds drying up the san francisco ethics commission is, taking an iv i of actually

roll is providing housing across all levels we're working diligently for everyone to live here and mr. chair protect the housing semiand strengthen goals against evictions we're commented for housing needs for all san franciscans to learn more visit highway >> a way of life in san francisco. when the next major quake hits, the city hopes a new law requiring seismic upgrades to five story buildings will help keep more residents safe and sound. tell me a little about the soft story program. what is it? >> it's a program the mayor signed into law about a year and a half ago and the whole

idea behind it was to help homeowners strengthen buildings so that they would not collapse. >> did you the soft story program apply to all buildings or building that were built in a certain time frame? >> it only applies to buildings built in the time frame of 1978 and earlier. it's aimed at wood framed buildings that are three or more stories and five or more units. but the openings at the garage level and the street level aren't supported in many buildings. and without the support during a major earthquake, they are expected to pancake and flatten ~. many of the buildings in this program are under rent control so it's to everybody's advantage to do the work and make sure they protect their investment and their tenant. >> notices have gone out to more than 6,000 owners of

potentially at-risk properties but fewer than one-third have responded and thousands might miss an important deadline in september to tell the city what they plan to do. let's talk worst case scenario. what happens in a collapse? >> buildings have the tendency of rolling over. the first soft story walls lean over and the building collapse. in an earthquake the building is a total loss. >> can you describe what kind of strengthening is involved in the retrofit? >> one of the basic concepts, you want to think of this building kind of like rubber band and the upper three floor are very rigid box and the garage is a very flexible element. in an earthquake the garage will have a tendency to rollover. you have to rubber band analogy that the first floor is a very tough but flexible rubber band such that you never drive force he to the upper floors. where all your damage goes into controlled element like plywood or steel frame.

>> so, here we are actually inside of a soft story building. can we talk a little about what kinds of repairs property owners might expect? >> it's a very simple process. we deliberately tried to keep it that way. so, what's involved is plywood, which when you install it and make a wall as we have done here already, then you cover it with this gypsum material. this adds some flexibility so that during the earthquake you'll get movement but not collapse. and that gets strengthened even more when we go over to the steel frame to support the upper floor. >> so, potentially the wood and the steel -- it sounds like a fairly straightforward process takes your odds of collapse from one in 4 to one in 30? >> that's exactly right.

that's why we're hoping that people will move quickly and make this happen. >> great. let's take a look. so, let's talk steel frames. tell me what we have going on here. >> well, we have a steel frame here. there are two of these and they go up to the lower floor and there is a beam that go across, basically a box that is much stiffer and stronger. ~ goes so that during the earthquake the upper floor will not collapse down on this story. it can be done in about two weeks' time. voila, you're done. easy. >> for more information on how to get your building earthquake ready, h