. >> good morning, supervisors i'm ann romero i'm a supervisor with the mayor's office of housing. this is for bond allocation for up to 15.3 million the villa is an existing how's unit for seniors that was development by st. vincent of paul. the building material matured and it was sold. g h c housing partners in sherman oaks is going to provide property management as well as services and the program will stay in place mister an affiliate is a partner g h c. they will select another partner. currently 72 of the units are section 8 and the others are funded by hotel groups. st. vip sent of paul will capita lists the bond fund to keep the affordability. thus, the rent subsidy will end. under the bond financing affordability will be restricted at 50 and 60 percent of the area medium income, however, the section 8 for 72 units will be for low income seniors. as the other tractions before you it dpoo doesn't require the city to repledge the bond. we're going to submit a bond application on september at the end of the month and we're going to ask for the bond to be issued early techniqu