a real change in investors' philosophies, touching on things such as climate change, and sustainability reports, but even some social issues, which is a first in 2018. there were two proposals aimed at manufacturers or distributors of firearms. one is sturm ruger, the other one at american outdoor brands, and so those proposals received majority support, and eye third proposal addressing the opioid crisis at depo med received majority support. this is a first for me of seeing these types of proposals receiving majority report and an issue on the proxy. i don't foresee that going away in 2019, and as andrew mentioned earlier, about half of these proposals on environmental and social issues, about half of them are

withdrawn, and the company is beginni beginning to disclose and provide more information to shareholders. >> commissioner driscoll. >> not about the content of what you spoke on, but one, i want to thank mark coleman on number two, who did the report. is this task that mark performed going to be passed over to mr. collins -- not that mr. collins doesn't have enough to do already, but -- >> proxy, we've decided -- andrew's resisted, but andrew will be responsible for our proxy voting. a lot of what was done here was done in tandem with both mark and andrew. >> okay. thank you. >> any other questions from the board? seeing none, why don't we open it up to public comment. seeing no members of the public that would like to address the

commission, we'll close public comment. is there a motion? >> so moved. >> motion by -- >> second. >> motion by commissioner driscoll, seconded by commissioner bridges. can we take this without objection? great. item passes. that was item eight. let's move onto item ten. >> item ten, discussion item. chief investment officer report. >> very good, board members. you might recall in december, the december equity market was the worst since the great depression. the s&p 500 was down 9% for the month. while turnaround, january was the best january in 30 years. the equity market was up more than 6.5%. we were up 2% in the aggregate. i do want to turn your attention to page two, two

items. if you look at the information under the current block, we currently have 34.9% in public equity. that is quite low compared to peers. that is by design. our plan is designed to achieve high -- do two things. earn high long-term returns and provide better returns in down markets, okay? so -- and we achieve high and long-term returns both through asset allocation and manager selection. you'll also see in private equity because the denominator fell, private equity fell pretty significantly in the fourth quarter, is that private equity, we're now 2% overweight. this is within our expectations that our range could range between 13 and 23% versus a policy of 18, given the variability of daily priced

assets in equity. i'll turn real quickly to the narrative i highlighted in area one, you know, the market returns in december, in january. january was really boosted by two things. one was positive statements from china about some reconcilia tory statements, so the market has been buoyed by that, and the other was added jobs. the job market continues to be very, very strong. next month, alan will be providing our quarterly and fiscal year, etc., our calendar year, etc., performance report. you're going to see on a relative basis, the numbers are very, very good. item number two on page two, the e.m.g., i've highlighted here. we've met about six times, i think seven, including

yesterday, and you'll see we -- these are the seven working points responsibilities that we've identified so far. i expect this to be tweaked once or twice over the next quarter or two, but these are the assignments and responsibilities that we're acting on. some closings that we're reporting on -- >> we'll take the closings as submitted unless there's anything really important you want to point out that was -- >> no. is that okay? very good. very good. okay. so i'm going to move -- and would you like to move through the charts and just save those for another time, given the hour? >> why don't you hit on some of the high points? >> one thing i'll point out is look at the chart on page five, the lower part. the equity market was down for the year. but what did earnings do? earnings were great. so, you know, earnings have

been the best for three quarters, and now, four or five quarters in that they've been for a number of years. and as a result, what has happened. on page six, equity markets are no longer expensive. and on the lower one on page six, on a forward basis, the s&pe, and the equity markets are now 411. the market looks like it represents good investment value when earnings have been great, but the market direction has been going a different direction. i'll highlight just a couple of others here. you know, there are two long-term worries. on page eight, on the lower part is growth in the u.s. has slowed by about 1.25, almost

1.5% structurally, relative to our historical norm. well, we have a lot of liabilities coming due in medicare and social security. to have increasing liabilities due and slower growth is not a good combination at all. and you see that expressed on page nine, is that with increasing government deficits and slower growth, that is also a really bad sign. you know, when people use the word "that's unsustainable," a better word is it "collapses." the only solution is really high taxes, which would destroy growth, printing a ton of money. those are the only long-term solutions, or the other is to

pay t not pay the benefits that have been promised in terms of medicare and social security. i'm going to highlight just one or two more. we've highlighted, on page 13, that the -- the number of publicly traded companies in the u.s. has fallen by half over a period of 20 years. and this is because of increased regulations, increased disclosure requirements, companies having to provide their trade secrets and their strategy, so they're staying private longer. you see this private equity, private equity has grown a lot in terms of an asset class, and the record valuations that we've talked about here, as well as the increased amount of dry capital are worry some signs, but public interest is competitive in the market, and

also the pace of innovation and companies are staying private for much longer than they ever have before. so those are potential factors that could offset the report valuations in dry powder and driest equity. we're very pleased to hire an analyst to support andrew in our e.s.g. efforts. luke angus, and i've really written a three-paragraph bio on luke. luke has extraordinary experience and also an extraordinary academic background and research background, and he joins us i think it's next week. we do have a couple of positions that are open. we are near the -- in the final phases of our managing director for private markets, and we do have security analysts open

really for private and liquid credit, the e.s.g. has -- will be filled -- coming on board next week. earlier, commission -- commissioner chu, i believe it was last month, on item 14, asked for a calendar of reports for the board meetings, and we are in the midst of preparing those. we want to be thoughtful about doing that because we are bringi bringing close to 100 investment recommendations to the board per year, about eight a month. but that is collides with a lot of other activities that you also see need to be brought to the board, so you see a half a page or 11 items' worth of reports. so we're preparing this. we haven't forgotten. we'll just bring it forward when we have something complete and ready to deliver to the board. we're going to make another effort to bring the risk management report -- we're

real really enthused about this report. some of it's comparing our portfolio to an optimized portfolio, value added of our portfolio versus 60-30 and 60-40 as well as a complete array of risk exposures through the portfolio. we're really excited to bring it to you. with that, i'll turn it over to the board. >> thank you, commissioner coaker. questions from the board? commissioner driscoll? >> on page three of your report, you might say where -- how the money is currently allocated, this one. obviously, there's been a bunch of decisions made in the last 60 days -- there's a lot of

allocation that you must do. >> we have taken public equity down. alan was saying your time of taking public equity down by 12% was really quite timely. >> it was a couple of percentage points of that. >> yeah. >> to tell me -- yeah, that's it. >> understand it. therefore, what i'm requesting, at least once a year, will be the june 30 period ending or the december 31 period ending, the current way we get the numbers now, total return with the benchmark, and the over under meeting accessory return, please add the tracking error number and the information ratio number. we looked at the great chart that we've been using reejt. i think once a year, we should get that since we're getting the new emphasis with our managers. so on an ongoing retention

basis, that's what i want to say. >> as i looked over, i see ana writing, and she's writing your comment down. >> to figure out which quarter is the best quarter year ending date. >> certainly. >> any other questions from the board? [inaudible] >> i just -- bill said you did well. well, we released the investor funds greater than a billion return yesterday. people here in this room know that if you had a 70-30 portfolio last year because of the market decline in the fourth quarter, the average individual last anywhere from from 3 to 7%. depending if they had an international or domestic portfolio. the median event in this country lost only 4% this year.

i'm aware of only three funds in the united states with positive results, and you were at the top of that list. so even though it was 1.5%, it was one of three plans that had a positive number. you were the best performing public fund in this country on a one-year and five-year basis. so you'll hear more about that, and why, but congratulations to you all. >> thanks to everyone in this room who's worked hard to make that happen. >> questions. >> did our allocation to absolution return help that? >> i don't have that. next month, that's what we'll go through. >> okay. looking forward to that. >> commissioner casciato. >> can i ask that in the interests of time, the remaining items that are informational in nature be adopted as submitted, and that we hear from the executive director as the last item?

>> let's finish this item, and then, we'll work through them. >> okay. why don't we open it up to public comment. are there any members of the public that would like to address the commission on this item? seeing none, we'll close public comment. thank you. mr. coaker, just one question. when are we going to see the absolute report? >> march. >> yeah, complete report in march. >> okay. thank you. okay. so that was item number ten. thank you very much. why don't we call items 11 and 12 together. [inaudible] >> -- investment performance through second half of 2018, and item 12, discussion item, sfpcp manager report. >> i think we can take these items as submitted.

>> we want to talk about the great work. >> thank you very much for the report. is there any high points that you want to hit within a brief amount of time? >> yes, certainly. the -- the semiannual performance of the sfdcp is covered in the submitting deck for item number 11, and item number 12 is the sfdcp annual report. the activity report has been revised to be reflected of quarterly activity. and also, the report will touch on the following key areas: marketing, the record keeper, operations, and investments. i do have some updates for you. they are listed actually in the memo, so i would like to ask the board if they would like to hear them really quickly. >> sure, please. >> are you on item number 12? >> i am on item number 12, yes.

okay. so on the marketing front, we had a very successful lunch and learn in october of last year. really quickly, this started in 2017, with the big picture when it was introduced, positioning both d.b. and d.c. and social security together. it went really well with a record turnout and great feedback and was actually a benchmark. this year, staff tweaked the presentation slightly in response to survey feedback, and we used your scene, the whole story. the idea is to visualize the length of retirement in proportion to the length of your live. for example, did your retirement years could long be longer than your working years? so the results of that seminar is actually reflected in the deck supporting the memo, and you can see specific results on page three, four, and five showing that 95% of the

attendees found the information very informative, and there's instant feedback. congratulations on a great review, and here's to 2019. we have commenced discussions with voya. our first meeting with them will occur in the last week of february? they have a dedicated transition team to the dcp? the transition date is still tbd, but assuming everything goes as planned, assuming no later than august. this allows us to be very aware of other departments during their fiscal year end. >> so august is "ish." [inaudible] >> okay. >> from an operations standpoint, both areas are being discussed as part of new

employee orientation that was launched last year, and the feedback has been overwhelmingly positive. as we work on transition is to voya, we strive to focus more d.b. and d.c. information together. and last, but not least, investment, clocking in at over 1 billion as of the end of january. the crediting rate for stable value is 2.42% for q-1, write means this rate is guaranteed -- which means this rate is guaranteed regardless of how the performs for three months. we plan to present a report in may covering its history, where we are currently and what to expect in the future as recession rumors loom. and finally for target date funds, they are a current default investment. they makeup ruffly a quarter of our plan assets? in response to an increasingly younger workforce, we will be launching the fund 2016 and the 2065 fund in april, and the 2020 fund will eventually be

mapped into the retirement income funds, and that concludes my quarterly report. >> 2060 retirement date, that is depressing. commissioner driscoll. >> miss russell designed a glide path for those two? >> yes. >> yes. it's part of our comprehensive series. >> maybe we'll discuss this -- is this on the calendar for the next deferred comp committee meeting? >> yes, we can certainly discuss that in more detail. >> let's make sure that it's on the calendar so we don't get slapped for talking about things not on the agenda. >> let's open it up to public comment. any member of the public wishing to comment on this item? seeing none, close public comment. item 13 is discussion only. we can punt that till next

month. item 13. >> okay. >> why don't we go to item 19, executive director's report, please. >> good afternoon. i'll be brief, also. it's that time of year again. it's time to prepare your statements of economic interest as well as if you need to take your ethics and sunshine training. we provided the information as to where you can find it. a reminder, last year was the first time that the board members and the executive director were required to file on-line, and so again, if you would like to see what you filed last year, it's available on-line. darlene certainly can make copies of it, but the deadline for the form 700 is april 2, in observance of some national or federal holiday. and the ethics and sunshine

training, you must complete that by april 1. so darlene has sent out an e-mail. she'll send out follow up e-mails. she'll be tracking to make sure you all successfully meet this date. two items, we have extended the chiron contract one year. we wanted to get it off cycle with the actuarial audit, and so what we've done is we've extended it for one year. we'll go out for r.f.p. with the contract ending in 2020 rather than 2019. we'll also done the -- we've also done the same thing with the cambridge consulting contract. we want today have the new managing director of private markets involved in that selection process, and as bill indicated, we're very close to naming a replacement for art wong, but until that's done, we went ahead and extended the cambridge contract for one year. we also, as part of a

successtion plan, an executive director's successtion plan, we have launched an executive director search r.f.q. that is currently on the plan's website. so if you have any ideas of folks that might be interested in it, just let us know and we'll make sure they get the r.f.q., too -- we'll get the r.f.q. to them. i have two things off calendar that i need to report. one is as staff has -- was doing an audit of the protect our benefit payments to those post-1996 folks, they discovered i believe it's just over 90 folks who retired for disability from the safety plans, and the retirement date was prior to 1996. however, their q.s.r. date, the

date they would become qualified for service retirement was after the 1996 date. so when we evaluated the court order and the charter, the charter language is very clear. for a safety member who is injured in the line of duty, q.s.r. date basically says you're entitled to benefits as if you worked uninterrupted by disability until that date. and so we determined that those folks actually qualify as the post '96 folks, and so we sent retroactive payments for three cost of living adjustments to them in january -- i believe it was january. so that's just a report to the board. second issue is we were notified last week of a data breach in the sfdpc plan. there were 42 forms, paper forms that were stolen out of a car of one of the credentialed

field representatives, so we have identified those folks who were impacted. we are working with prudential as well as our city attorney to make sure that we comply with all of the notification, requirements of both state law and federal law as well as working with the affected participants and beneficiaries to ensure that there are steps taken to protect them against identity theft. and with that, i'll be happy to answer any questions. >> are there any questions from the board? >> when we get to 18, i'll add to what you did. >> seeing there are none, i'll open it up for public comment. are there any members of the public that would like to comment? seeing none, we'll close public

comment. it appears there are only two items left, and we can get through them quickly. why don't we go to 18, item personnel committee reports. >> 18, item personnel committee reports. >> the committee discussed two things, our closed session, we're going to make sure that quarterly personnel meetings are scheduled. we have a time issue that we've got to resolved. the key issue that executive director huish already talked about was the release of the r.f.q. >> that's correct. >> i just want to let you point out, our objective is much like we have a farm team of legal workers to do a var item of on call, the obvious tiff is to -- objective is to have a team of on call, team of physicians that we're better off utilizing a term, so the idea is to interest three on call people who specialize in this area. and there may be differences

between administrative kmux communications and investment types. the full board must vote on whichever firms we decide to hire, so it'll all be coming back to you with a lot more detail. i thought i'd start out with giving you all the objectives. >> thank you, commissioner driscoll. any comments from the board? seeing none, we'll open it up to public comment. are there any members of the public that would like to address the commission on this item? seeing none, we'll close public comment. why don't we call item 20. >> item 20, discussion item, retirement member good of the order. >> anybody have anything for the board? >> i do. we obviously had a very long closed session, and what our c.i.o. has forecasted, we have another 100 items, and you can see how long the closed session ran today. sometimes we're cutting off

some of our other presenters, particularly the deferred comp quarterly report. we have to figure out a way to start earlier or figure out a way amongst ourselves to limit the q&a. it is up to us to make sure we don't short shrift somebody who needs to talk to us more. >> good point, commissioner driscoll. i will make sure i work with the kmekttive director and c.i.o. and any other board members who want to talk about that. recently, there's been some issues with people retiring from city employment where there's some -- i think maybe either miscommunication from the agency like h.s.s. or sfers where a member thought they were entitled to a benefit, and based upon a conversation with an analyst, they believe

they're entitled to something. they then found out later that they were not entitled to it, and it caused a lot of apgs item f -- anxiety for that person where their retirement plan has changed. there are also instances where people who were involved in the drop program maybe misunderstood what they were eligible to get in retirement in terms of spouses, continuation benefits. and so one thing that's important to me is when people retire, there's no verbal assurance as to what you're going to get. everything should be in writing. there's going to be no mistake what you're going to get, your dependents are going to get, what your spouse is going to get. to avoid that, i'm going to work with our executive director to find a way that there is no confusion for

people when they retire, and that they have something on a piece of paper. that's all i have. anything else from the board? >> forgot. in the c.i.o. report, after the publication of the board materials but before the board meeting, we did have one item close, and so i need to furnish that to you all. i'll give you each a piece of paper showing the closing, and i'll give it to darlene, as well. >> all right. seeing nothing else, i guess we'll call for public comment -- >> excuse me, commissioner, can i underscore your point about communications. perhaps in the training for the analyst or whoever incident faces with the public when they come in for counseling or to retire, do they understand the concept of detrimental reliance? >> absolutely. >> okay. i don't want to train them, but i just want to make sure because we had a case come up with that -- a recent case. >> and to be clear, what i said, it's not meant to take anything away from all the

people here that meet with our members every single day. it's just a general observation that sometimes members maybe just don't understand what they're being told. we need to find a way to make it so that there's absolute clarity for them. that's all i have. we'll open it up to public comment. are there any members of the public that would like to address the members of the commission regarding this item? seeing none, we'll close public comment. meeting adjourned. thank you, everyone.

>> hi. my name is carmen chiu, san francisco's elected assessor. when i meet with seniors in the community, they're thinking about the future. some want to down size or move to a new neighborhood that's closer to family, but they also worry that making such a change

will increase their property taxes. that's why i want to share with you a property tax saving program called proposition 60. so how does this work? prop 60 was passed in 1986 to allow seniors who are 55 years and older to keep their prop 13 value, even when they move into a new home. under prop 13 law, property growth is limited to 2% growth a year. but when ownership changes the law requires that we reassess the value to new market value. compared to your existing home, which was benefited from the -- which has benefited from the prop 13 growth limit on taxable value, the new limit on the replacement home would likely be higher. that's where prop 60 comes in. prop 60 recognizes that seniors on fixed income may not be able to afford higher taxes so it allows them to carryover their

existing prop 13 value to their new home which means seniors can continue to pay their prop 13 tax values as if they had never moved. remember, the prop 60 is a one time tax benefit, and the property value must be equal to or below around your replacement home. if you plan to purchase your new home before selling your existing home, please make sure that your new home is at the same price or cheaper than your existing home. this means that if your existing home is worth $1 million in market value, your new home must be $1 million or below. if you're looking to purchase and sell within a year, were you nur home must not be at a value that is worth more than 105% of your exist egging home. which means if you sell your

old home for $1 million, and you buy a home within one year, your new home should not be worth more than $1.15 million. if you sell your existing home at $1 million and buy a replacement between year one and two, it should be no more than $1.1 million. know that your ability to participate in this program expires after two years. you will not be able to receive prop 60 tax benefits if you cannot make the purchase within two years. so benefit from this tax savings program, you have to apply. just download the prop 60 form from our website and submit it to our office. for more, visit our website,

>> here we go, with another great announcement today. thank you all so much for being here. thank you all. and welcome to dorhouse. it is a place that serves as an example of how our mental health system is working right here in san francisco. this is a place that people who are in crisis can come and immediately get help and transition to possibly a two-week stay, and, if necessary, a 90-day stay, because we know that someone in crisis who needs help and assistance, it requires a lot of support and a lot of wrap-around services. and this is a great example of us doing it right in san francisco. but while this is a great facility doing significant work, it is just only one tool. we have to address the challenges that we see

playing out on our streets every single day. people who are suffering from mental illness, people who are suffering from addiction, we see the need and we wonder why isn't the city doing more? it is heartbreaking and it is frustrating, and we are investing in more solutions to try and address this issue. we've already opened 50 new mental health stabilization beds, and we plan to open another 100 beds this year. we recently announced a $3 million grant to expand the department of public health efforts to help those suffering from substance use disorder. and we're working to expand our conservatorship law so we can provide help to those who you, unfortunately, sometimes can't help themselves. but each of these efforts, while important, is just one part of a whole behavioral health system. and that system needs

greater coordination, focus, and accountability. because while there are great people doing great work, both in our public agencies and our non non-profit communities, like doorhouse, we know that not everything is working. and that's why in my state of the city address earlier this year, i announced that i will be hiring a director of mental health reform, and that i want one person who is looking at this system so that we can change it. to invest more in solutions that are working and to move away from strategies that aren't working. over the last few months, we have been searching for someone who had the experience and the expertise and the commitment to take on this issue. and today i am really proud to announce that dr. anton negusa blade

will be taking on this critical role. [applause] >> i hope i didn't butcher your name. [laughter] >> dr. negusa blade is currently the medical director for psychiatric emergency services at san francisco general hospital. wherever day he sees those who are most in need, and just as important, where he sees the flaws in our systems that leave those in crisis with nowhere to go, dr. negusa blaine is an addiction and emergency psychiatry, and i know he is ready to take on this challenge. and let's be clear, this is a major effort. he will be tasked with improving our city's efforts around mental health and substance use disorder, including identifying and understanding the exact population that we're trying to help in creating

a system to track services across our entire behavioral health system in the city. he'll be assisting with restructuring and expanding existing services and identifying gaps where improvement is needed. and creating a data system so that we can measure our progress, so that we can measure our success in what we're doing. this won't be easy, but i know that he is up for the task. and he has my full support to achieve this goal. he will report to our new director of the department of public health, dr. grant colfax, and i want to thank dr. colfax for helping to lead this effort and for his early emphasis on prioritizing behavioral health in our city. i also want to thank ucsf for loaning dr. negusa

blaine while he takes on this very important role. ucsf has always been a partner to us in providing health in our city, and we appreciate their leadership and their support in this very difficult task that we have to do. and we know that it won't be easy, but we are prepared to do what is necessary to make sure that we partner, that we make better investments, and that we do everything we can to improve behavioral health in our city and the challenging conditions on our streets. and with that, i'd like to welcome to the podium the new director of mental health reform for the city and county of san francisco, dr. anton negusa blaine. [applause] >> thank you, madam mayor. i'm anton negusa blaine. as a psychiatrist, i think of my job and work mostly

as establishing safety through listening. everyone has a story to tell, and a reason for the problems their experiencing. creating the right environments for people to seek care, to accept help, and also to work on their own behalf to get better, that is in some ways our most basic and our most pressing challenge. in my time at psychiatric emergency services, i have seen people in crisis who are disconnected from care and resources in the community. i often challenge our staff to ask, what are their barriers? what can we do as a system to begin to bend in their direction? i look forward to working with the health department leadership and community partners to figure that out. we have so many dedicated and talented providers and experts in our system. it is a great basis of strength to begin this work. together we can develop a strategic approach to mental health and substance abuse services

for people experiencing homelessness in san francisco. while the system works very well most of the time for most people, we need to focus in on the gaps that leave some of our most vulnerable residents at risk. san francisco has an outstanding track record of problem solving. i'm honored to be asked to serve at this critical time to address the problems of our homeless residents who need mental health and substance abuse care but are not able to access it through our current needs. we're going to examine the data, and we're going to assess the programs that are in place. we will build upon what is working and develop new approaches as well. as a city, we can continue to do better to ensure that all san franciscans have a real opportunity for wellness and recovery. thank you. [applause] >> thank you. and with that, i'd like to introduce our new department of public health director, dr. grant

colfax. >> thank you, madam mayor. this is really an exciting and inspiring day. and it is really great to see some of the key people who make our system work here with us today. and as i reflect on my first month as director of health, i'm struck by how extensive our mental health and substance abuse treatment is throughout the city. just for some numbers, the system already provides care to some 30,000 san franciscans in about 300 programs. we have approximately 2,000 beds in the behavioral health system across the continuum of care, from crisis to acute in-patient care, to residential treatment and beds and boarding care. we know that recovery is responsible with treatment. today at doorhouse, which is a great example of a part of our system that is working well, to help people recover.

we know there are many effective programs in our system to meet individual needs. that's so important because there are individual situations that play out differently for everyone. but we must, and we can do better. we need to lower barriers and make it easier for people to experience recovery and wellness. for many of our most vulnerable residents and their families, the system can be confusing and hard to access. we must collaborate better with community providers, patients, families, and other stakeholders to present a more client-centered model of care. we must have a system that responds better to the mental health and substance abuse treatment needs, people experiencing homelessness, or those at risk for ending up on the street. we need to implement the most evidence space, tools, op optimizing every dollar for care, delivering culturally

efficient care, and demonstrating results. we need to scale what is working and end what is not. i'm grateful that mayor breed has decided to face this issue head-on. with her leadership, i'm positive about moving forward in the right direction. dr. anton negusa blaine comes to us with experience in addiction psychiatry. he has been medical director of the psychiatric services, the emergency services at san francisco general hospital, thereby being on the front lines of mental health and substance abuse crisis. he sees the issues we are facing and trying to solve every day. we're grateful to him and ucsf for making this integrative new position. he will work with me with mental health and substance abuse services for those in san francisco and those at risk for being on the street. he will help us to assess

the system from the patient's perspective and by looking at the data. he will identify successful models of care and opportunities for additional resources or service expansion where things are working. he will ensure that our investments are informed both by science and the people we serve. we are fortunate to be taking this step forward today, and i look forward to working with everyone for more improvements in the futurement thank you. thanfuture.thank you. [applause] >> thank you. and dr. negusa blaine is on loan to the city from our great partner, ucsf. and i want to welcome to the podium dr. matthew state, who is the chair of the department of psychiatry for ucsf. >> it is wonderful, truly exciting to be here today for this incredibly important announcement. i want to thank mayor breed, director colfax, of

course dr. bland, as well as all of our community partners and advocates who are here with us day. i'm matt state, the chair of the department of psychiatry at ucsf. as i said, this is an extraordinairely exciting day for our city. it is incredibly rewarding to have ucsf faculty, like dr. anton bland, to be able to play such an important role in this effort. the city and ucsf have a very long history of highly productive partnership, and as the representative of the ucsf here today, i can't stress our eagerness to continue working with you, director colfax, and dr. bland. it is particularly

rewarding for me personal to be able to help support the remarkable work that is being done as a partnership between the city and ucsf at the general hospital and in our community based programs. our department of psychiatry is the second largest service department, serving more than 13,000 individuals and families annually. the faculty and staff at ucsf are talented and are really on the front lines of national crisis. our doctors, whether thairthey're in psychiatric services, or division of substance abuse, our trauma programs, our community based wrap-around programs, jail-based psychiatry, are all helping people who are struggling with their issues, and very often are facing homelessness, exposure to violence, marginalization, and

stigma. in this department, dr. bland is a resilient and talented leader. he has been a highly affective leader who has a deep, deep understanding of the mental health challenges that the city faces. he brings a remarkable mix of clinical excellence, administrative skill, and very importantly a deep compassion for every patient and family that he interacts with. in taking this position, he will join an already outstanding team, in working throughout the city who are addressing this challenge day and night. and with the active support of the mayor, director colfax, our community partners, and i guarantee every person at ucsf, i'm confident he will help achieve lasting and sub substantive change that will affect the lives of the most vulnerable in san francisco. thank you again, mayor, thank you, mr. colfax, and congratulations and best

wishes to you, dr. bland, as you begin your tenure as the doctor of health reform in san francisco. congratulations. [applause] >> mayor: again, thank you to ucsf for their partnership in this effort. we are truly grateful for their support. and i think that this is going to be absolutely amazing for our city, and it is no -- it is primarily do to our working relationship with ucsf and the resources they continue to provide to support our programs here in san francisco. i would also like to acknowledge and thank the progress foundation and doorhouse for their support and the work that they continue to do in san francisco, as well as another community partner, positive resource center and brent andrews. thank you so much for all of the work you all do to work with communities and to continue to make sure

that san francisco is at the forefront of addressing what we know is a serious crisis. not just with so many people sadly that are suffering on our streets, but people who need help, they need support, and need resources, and it is time that this city has taken a really hard stance around trying to reform mental health in a way that removes the stigma so that we can get people to help and the support that they need. so i'm very honored and grateful to dr. negusa bland, who has stepped up to the plate to take on this incredible responsibility. so thank you all so much for being here today. [applause]

>> welcome to a refill week. welcome to everyone joining us at chase centre and in b.c. sports bay area, we are on t.v. today, so thank you very much. we are from one '07 seven the bone. thank you. paul and i have been radio partners in the bay area for over 30 years and over those 30 years, we have had the opportunity to make a living by playing and listening to some of the greatest artists of all time that is what brings us to state the -- to the stage day for the press conference. the act, the chase centre and the warriors will be announcing has been a big part of the bone for many, many years. and we are set to announce today the first event ever to be held at chase centre, the wire stretch out new home right here

in san francisco. -- the warriors new home in san francisco. >> not only will it be home to the six time nba champion, the golden state warriors, but it will be a local destination for some of the best acts and events in the world, and it will play host to over 200 events a year, and with activation throughout the district every single day. it will be a great centre and we will have a great time with this venue. for the first time ever, san francisco will have the opportunity to have the best talent to come and play right here in the city. >> the first person we would like to bring to the podium is the man who has a vision of building a first-class world-class entertainment and sports venue and san francisco. when he first bought the team after 2010.

in 2014 they bought the property and it is the first the first privately financed, privately owned project stadium or arena to be built on privately owned land and in the country. the first time that will be done in the modern sports arena. as we mentioned, joe has always had an incredible vision for the city of san francisco and the golden state warriors, and even before purchasing this land, it was a joe who wanted to make sure if venue of this stature was built right here in the city >> by the way, today's announcement is another step in making that dream a reality, also, i do want to add on a personal note, he is a great guy and pretty cool. he told us that we are one of his favourite f.m. shows and he has been in the studio with

several times over the past 30 years, and the first time we met him was when he first bought the team. he gave me a pair of tickets to the game, and he called that in as a favour to the m.c. of the event. this guy is shrewd. let's welcome joe way come. [applause] >> you said it all, i don't know what else i can say. i might as well throw these away thank you, everybody, welcome to chase centre. what i like about this is this is a practice because it is not ready for five months, you get to see most of it here today and it feels really good to see this much here today to say welcome to chase centre. i want to keep practising that line. we started this process when we bought the team and it has been seven years of looking at arenas

across the country. we had another site in san francisco originally selected. we met a little opposition, and we decided to pivot, and we bought this land in mission bay. i think it was one of the greatest strokes of luck that we ever had this site is so fantastic, i thank you will all agree. it is amazing sight. you see the skyline, it is tremendous. i will tell you all so that we have done pretty well on the basketball side of things. we built a pretty good team. that has been a lot of hard work but this, i can assure you, was, and is much harder, maybe, peter guber and i like to talk about it along with rick and the rest of the staff, maybe the hardest thing that we have individually and collectively ever done. it is an amazing thing the fact that we have this thing ready to

go today, and we will have a state-of-the-art complex for the first time, as you guys said in san francisco, in it maybe ever, of over 12,000 seats, a major sports entertainment venue which is really quite an accomplishment and something that will be a legacy for everyone in the city for decades to come. and a represents a transition for us as an organization. we are not just a sports team. we say that a little bit a mock because we are a pretty good sports team. we are not just a sports team anymore. all of us have realized for years, i realized today and all the work that we have spent, we are an entertainment organization. we want to be just as good at that as we have been at the sports side of things. we want to deliver world-class ask for all right here at this venue for decades to come. [applause] it is not just inside this arena but outside the sabrina.

we intend to have events there day and night, all kinds of events. i am looking for three and three basketball, i don't know about you guys, i might even play, and then, of course, on the park, there will be a lot of grass there, the mayor tells me, but it will be there, and that park will be a beautiful five and a half acre park next to the arena on the water and we will have a lot of activities there as well. the activation of this site will low people away when it is finally said and done. here we are, 172 days. we are counting them down, are we not? 172 days away from our opening event at chase centre. we were are announcing what that is today and we will have announcements the rest of this week. we will have announcements in the succeeding weeks and months and we will have quite a scheduled to go. i want to close by doing something i need to do which is to think