my name is lydia ely and i'm a project manager at the mayor's office of housing. as supervisor kim mentioned, we're asking for an exemption from loan to value ratio requirements of the seismic safety loan program. when the city first loaned about a million $800,000 to this project in 1997, the project even at that time, because of existing debt, exceeded the loan to value ratio as required by the sfsd program. so, they secured that debt with a guarantee -- with a loan guarantee on the property. last year we gave another $700,000 in loan funds from the sflp program to the building for some additional seismic work under the sidewalk which we have not been able to fund in 1997. because of the additional loan amount and because the project now has a new loan with the state, the loan to value ratio was so out of kilter that they had to secure with a loan guarantee on another building that the nonprofit owned which is mendelson house, 30 37 folsom. now the owner wants to refinance mendelson house at the new hud loan and we can't -- we can no longer secure this loan guar