a lot is due to updating status from the previous pools we had done in 2022 so there were only 1400 names left on the list. of the 1400 names, as of the writing of the report we received 818 responses issued out 737 vouchers and admitted 264 new tenants on the tenant based hcd program. you can see the number of admissions is less then initially forecast. that is due in part to that lower number of individuals on the wait list when we had conducted the pools; but the reserve is higher then we anticipated. two of the main drivers on that are number one, we had increased payment standard during 2023. that was another of the leasing plan goals and i'll go more into detail later. another reason is, just based

off it population of individuals on the wait list. there were larger family sizes, which results in a higher payment standards which result in more hap paid by the authority. yes, we were able to despite the lower number of admissions still hit the goal of preserving the hap funding we had designated for voucher issuances. can i get the next slide, please? thank you. so, on the flip side we were also working on filling our project based voucher vacancy, so the first slide was detailing tenant based voucher, this is looking at project based vouchers where the voucher is tied to the unit rather then the individual. we had anticipated around $8.4 million of our reserves going to filling these units. we ended up being able to process 677 new admissions for

the project based program which resulted in $9.4 million in hap reserves that were reduced. once again, we were able to meet the goal for reserve expenditures on the project based side as well. can i get the next slide, please? so, continuing on with project based vouchers, earlier in the year we received approval from hud to issue 400 new project base vouchers for 2023. the updated amount that we were able to execute, there were 258 of those completed in 2023 with 192 of them being effective in 2023. the difference there, there were delays in inspection so not able to be finalized in 2023 so they are still finalized it is just 2024

rather then 2023. there were two phases of these project based vouchers that were issued out. the first is non competitive award. two buildings already have subsidized units and the second half is through competitive award, which i believe will be a item later today. there were 192-sorry, 258 done on the non competitive side with remaining 125 done competitively. >> we are saying from the point of view of the expenditure we wanted to have around hap payments, we are happy with the dollar amount expended because above projections, above the goal. what would have happened if we hadn't had delays and we were able to move forward with all 400 units? would we have the resources to

apply and resource each of those units? >> yes. everything done in the 2023 leasing plan, we had-when we had written it we had a upper level projection where everything done we exceeded expectations across the fwored for everything we are still able to maintain a healthy reserve and this was done in conjunction with our hud field office, so we meet with them on a monthly basis. we presented th to them and in getting feedback on the plan, if everything happened and every voucher had leased up, if we filled all the vacancies across the program, we still would have been from a position of being able to fund everything that happened. >> great. >> thank you. next slide.

this is the item ceo was referencing earlier where not only are we wanting to increase the amount of people who we are able to serve and make sure we provide support to those who are already in the program. this is something recommended by hud as well. they call running a optimized program where you are able to find the sweet spot of maximizing the usage of dollars to bring people into the program and also making sure you are able to provide the best support possible to those within the program. so, the last couple years what we have done is as we have increased our payment standards, which is the set amount per voucher size--let me try that again. which is the maximum amount of support per voucher size that can be provided by the housing authority, we along with that increase expedite a

recertification for families or households identified as being rent burdened. to be rent burdened means you are paying more then 30 percent of monthly income towards the rent and this can happen when your unit that you lease is above the payment standard, and that is usually the main way that this comes to be, but we work with hud to go through and identify families and households within our program that meet this qualification for more then 30 percent of income goes towards their rent payment and then as we process our increase in the payment standards, we go through and also process interim to reexamimation to bring up to the new increased amount. this year there were when we had initially looked 286 households that met this criteria and when we were able to go through and raise the

payment standard there were 169 who still qualified. when we were able to go through and raise this payment standard for these households they received additional $77 on average per household in monthly support, which may not seem like a lot of money, but when their average payment was $562 per month, so that is $77 represent a 14 percent increase in the amount of monthly support we are able to provide for them. >> that's great. >> and you can see the dollar amount tied to this isn't that high. it was only $13 thousand extra per month, but i still want to make sure this is highlighted because this is something we have been able to do that made a large difference to the households we are serving. >> great. thank you. >> next slide, please. during 2023, we were able to conduct one site based waitlist

opening for studio units. we received feedback studio units were more difficult to fill and we were running out of names for referrals so we conducted this opening to be able to refresh the list for a number of studio wait list-a number of studio sites to be able to provide more name to fill those vacancies. as i mentioned earlier, we were able to fill 677 vacancy and we are planning conducted more wait list openings on the site base side now in 2024 to be able to continue to meet the demand to fill these units. on the housing choice voucher side, in october we conducted and opening on our hcd wait list. there is a typo on the slide. it should say we received over 52 thousand not 55 applications. i want to make sure that is corrected right here.

of the 52 thousand applications, we randomly selected 6500 applicants placed on the hcd waitlist. everyone selected to be placed on the waitlist received notification that they have been placed on the waitlist and we are planning to as part of the 2024 leasing plan planning to draw off the waitlist. we don't know the date or number of names. we need to receive our reconciled 2024 reserves from hud just to be able to put those plans into place, but that is snng we are looking at on the horizon. and that is the end of the 2023 leasing plan updates. if there are any questions: >> any questions commissioners? >> if you receive-if your name was chosen and placed on waiting list you said we should have received a letter?

>> i believe it was a e-mail and there was a physical letter as well. >> who do i contact to get a copy of that letter because i never received one? customer care? i'll talk to kendra. >> thank you. >> thank you. >> they receive notice by e-mail and a letter? just wondering people who get e-mail they don't always necessarily go in a inbox and people don't necessarily know what to look for. is there a redundancy put in place to make sure people actually got their name pulled and aware of that? >> i think kendra can answer bert then i can. >> there are a couple different ways a applicant can find if their name was chosen.

not only did we send e-mail and letter, but also have a portal on the website for applicants can put in their conformation number and their name and also receive their status of the wait list that way. >> and they know that? those are the ways in which they can- >> sorry? >> are they all aware? are the 52 thousand people aware that is how they can check to see if they made the wait list? >> yes. these applicants receive an e-mail from the housing authority saying they were accepted or not and all of those e-mails and correspondence had information on how they can go to the website and the portal information. yes. >> but if their e-mail didn't go through they wouldn't know? >> the e-mails were provided so every application required an e-mail. >> so when you apply you know this is the e-mail, this is how

we send it to you so make sure you don't let it go to spam? make sure you check your e-mail. >> that was our goal and what we wanted to make sure we had multiple ways to contact people. >> great. thank you. >> thank you. >> thank you. just to reiterate our process at a very high level, in order to use the portal, meaning to apply or even if you use a paper application, there is certain information your e-mail that must be there for means of communication and an address because we also know people move and things happen and so one of the ways that we hope to insure a contact is through an e-mail and it doesn't allow you to go to the next step without putting in critical information, so that is really important.

then fundamentally as well, individuals that are applying also are informed you can go to the portal to put in their information as well. so, we are doing everything we possibly can in terms of providing ways to get those notices and information as well as also saying, encouraging individuals to make sure they keep their information updated. because, again that's always a issue depending for anyone, right? so, all those things are important and it really is having a relationship with each other to be able to be responsive on both ends of this whole process. and so, we continue to figure out how can we make sure individuals are receiving their information? how can we encourage and have these touch points? we do a lot of work with our

different service provide rs, non profit organizations and training with them when we are opening up the wait list and with these different organizations, they have a group of individuals they are working with helping them get through the process and them able to help facilitate information as we continue to move forward. >> any other additional commissioner comments on the year end report? okay. joe if you can hang tight we can go to 7e, it the vacant unit summary. >> thank you bennett. so, i just finished going through the 2023 leasing plan. one thing we want to focus on in our 2024 leasing plan, which again we have yet to author but

have already flagged as something we want to focus on is filling unit at our [indiscernible] sites. so, what is displayed right now is a quick summary of our pbv units. we are at 87.8 percent occupancy rate. 7747 occupied out of 8816 units. with breakdown of the occupancy rate by bedroom size.

this is showing the flip side of that. the previous slide folked on occupied units and this looks at the vacant unit and you see what i was mentioning where looking at the sro and studios, those are the ones lagging behind in terms of occupancy rate and on the right hand side of the screen you can see that even though the studios don't account for the mujrt majority of unit sizes we have, sorry sro, there is only 978 across the portfolio, they do account for the highest vacancy rate. not only highest vacancy and the highest vacancy rate of these units. two things we have done this past year to address that is on the studio units we conducted

the limited opening which i mentioned previously in the 2023 updates and plan on doing similar opening in 2024 to problem solve around the lower occupancy rate on the studios and on the sro side, this past year we have implemented a change in administrative plan to accept direct referrals for non hsh funded units. those are two things we already implemented to try and target these vacancies. we are doing-in the planning stage doing a larger scale opening across all the wait lests where there are a need for more names on those lists where they have been exhausted so that will be detailed in the 2024 leasing plan, but i was aware there was a ask for this summary of the vacant units so i wanted to provide that to you all today. >> great.

thank you very much. >> thank you. >> commissioners, any questions? alright. >> thank you very much. >> thank you everybody. >> thank you. >> our next item 7f, the finance report. >> just before we begin, i want to check in with commissioners. is our hard stop before we lose quorum 5 p.m. or do we have any no pressures here, do we have leanancy on time? given we are hard stop and probably need at least 15 minutes to go into closed session, we'll take the next 5 minutes for presentation and then move into closed session.

>> this is the first quarter of 2024 which covers period of october to december. on the- >> if we could have some attention on the speaker, because we have only 5 minutes left. >> [indiscernible] as we go through this, it is early in the year so as a result you see a lot of variances, right? on the revenue side the negative variances is we anticipate getting revenues towards the end of the year and probably more then what we currently have as you did last year. two years i have been here it started off slow and ended strong. on the expense side of it, as we took a look on expenses there are timing issues around these. we'll see hiring in the housing manager positions for [indiscernible] see hiring in

housing analyst, we'll see the cbo staff service providers, we'll see landlord incentives. it is timing [indiscernible] as we go through the year. >> great. >> on the [indiscernible] [difficulty hearing speaker] as we go through these, we talked about the subsidy side. the other revenues pertains to the monies we got from hud for the referrals. ehv vouchers. the way this program works is they give all the money up front. we store the money in a bucket called differed revenue. as we incur expenses, that money is pulled from the

differed revenue to revenue. it is waiting on invoices that come from third party vendors so there is delay in the process in getting invoices. a example of that in january we got invoices for the july to september 2023 period. obviously there is delay in getting invoices, the process is slow, but the same thing that effects other revenues effected expenses. when we get invoices we apply to expenses. so you see reduction-this really is-we talk anytime the metric all the time. we talk about-at some point [indiscernible] we got off to slow start in issuing the vouchers, but as you can see the rapid pace, slop of the line increased tremendously.

this was the numbers reported at end of january. if we look at today the dash bord there is 806 vouchers and the leasing utilization increased up to 90 percent. next slide on the central office cost center is where this money is what is used to pay back office operations. the lower management revenues is a result of the lower hud subsidies we got on the hcd program and ehv program. the other revenue positive variance is the north beach site where we get surplus funding. we will always conservatively budget the number so we always have a surplus and this number. on the expense side,

compensation i believe we [indiscernible] for compensation. pay increase in the beginning of the year, so that is why that variance is there. the insurance side, that negative variance will close by end of year. we pay off the insurance off the bat rather then installments so probably the next time you see this budget we'll move the budget to compensate for that. on the [indiscernible] rest assured money will be [indiscernible] [laughter] this is subsidy for plaza east and north beach. the subsidy that comes in is hundred percent of this money sent out to the various properties. i think the negative variance of all most $700 thousand

represent the additional funds that took out of the cash reserve to pay plaza east for the properties. and management. public housing on the public housing front, again this money is really coming from-this money is for public housing and this money will be used to pay for the withdraw of the pension liabilities that we have. there will be other programs [indiscernible] >> great. >> i think the last slide. [indiscernible] the last slide is summary of all the departments. >> any take away before we have our next meeting with you?

>> it is too early in the quarter to have any plans. and this is why i want to get to the 6 month mark with you focus on the year-end budget because we [indiscernible] where we think revenue and expenses will be, but so far we know it is [indiscernible] tracking well within the budget. >> great. alright. thank you very much. all most 5 minutes. all most. we need to move now into closed session. i know that next month ceo you will have a full report out on communication so thank you for the flexibility here. just given the quorum needs. if we can have i believe we need everyone to--okay. okay. alright. >> could i ask a quick question? >> yes, please. >> do you know of any instances where the owners have changed the utility responsibility to the tenants after conversions?

>> no. no, none. thank you very much. >> i look forward to- >> yes. thank you. okay. great. can might make sense to stay here given that-- so much. everyone, this meeting is now adjourned. time is 5:19 p.m. thank you everyone. good job. bennett.

>> i lived in the mission neighborhood for seven years and before that the excel see your district. 20 years a resident of the city and county of san francisco. i am the executive director of a local art space nonprofit that

showcases work that relate to the latino community and i have been in this building for seven years and some of my neighbors have been here 30 year. we were notified from the landlord he was going to sell the building. when we realized it was happening it was no longer a thought for the landlord and i sort of had a moment of panic. i heard about the small sites program through my work with the mission economic agency and at met with folks from the mayor's housing program because they wanted to utilize the program. we are dealing with families with different needs and capacities. conversations were had early in the morning because that is the only time that all the tenants were in the building and finally

when we realized that meda did have the resources to buy the building we went on a letter writing campaign to the landlord and said to him we understand you want to sell your building, we understand what you are asking for and you are entitled to it, it's your land, but please work with us. what i love about ber nell height it represents the diversity that made me fall in love with san francisco. we have a lot of mom and pop shops and you can get all your resources within walking distance. my favorite area of my home is my little small patio where i can start my morning and have my

coffee is a sweet spot for me and i it is a historic day we are announcing the community meeting we are having on the 20th with china town community college center to talk about the first sober supportive housing hotel not simply in san francisco or california but i believe the nation. i had somebody say how do you know the first in the nation. i researchd and have admit found another that is permanent supportive housing that is sober. what is interesting is that we have over 8,000 single adults live nothing permanent supportive husbanding inan