now the owner wants to refinance mendelson house at the new hud loan and we can't -- we can no longer secure this loan guarantee with that property. so, we're asking to -- we need to remove the deed of trust from mendelson house and by doing so we will be out of compliance with the loan to value ratio requirements. so, that's what this request is today. : i'm happy to answer any questions about the project itself or the seismic [speaker not understood]. >> i think you need to speak a little bit to the importance of ensuring the affordability of hotel isabel and why we are asking for this exception. >> when it was created by the voters in 1991, it was aimed at market rate housing as well as affordable housing. as you no doubt no, most market rate loans have loan to value requirements that are intended to guarantee the lenders can recoup their itm

if you look at the first of the program you have very early, young vibrant mendelson; fabulous opener and then you have this fabulous concerto written for us in the orchestra. is our gift. msk(music) >> and then you have strauss, extraordinary piece. the most challenging of all. string orchestra work. 23 solo instrument, no violin section, now viola section; everybody is responsible for their part in this piece. the challenge is something that i felt not only that we could do , absolutely could do, but i wanted to show off. i can't tell you how aware i am of the audience. not only what i hear but their vibes, so strong. i have been doing this for a long time. i kind of make them feel what i want them to feel. there is nobody in that audience or anywhere that is not going to know that particular song by the fourth note. and that is our encore on tour. by the way. i am proud to play it, we are from san francisco. we are going to play that piece no matter where we are. >> 7 and a half million renovation is part of the clean and safe neighbor's park fund which was on the ballot four years

if you look at the first of the program you have very early, young vibrant mendelson; fabulous opener and then you have this fabulous concerto written for us in the orchestra. is our gift. msk(music) >> and then you have strauss, extraordinary piece. the most challenging of all. string orchestra work. 23 solo instrument, no violin section, now viola section; everybody is responsible for their part in this piece. the challenge is something that i felt not only that we could do , absolutely could do, but i wanted to show off. i can't tell you how aware i am of the audience. not only what i hear but their vibes, so strong. i have been doing this for a long time.

if you look at the first of the program you have very early, young vibrant mendelson; fabulous opener and then you have this fabulous concerto written for us in the orchestra. is our gift. msk(music) >> and then you have strauss,

. >> well, john mendelson, a wonderful thinker on wall street, he was the one who coined the phrase, dr. copper, the metal with a ph.d in economics. and i haven't talked to him in the past 30 years about this, but his contention, which makes great sense, is that copper, as a basic industrial metal, its price is an important indicator of the trend in real business activity. and it seems to me what's happening in china with respect to the buildup of inventories and base metals, including copper, is a telltale sign of consequences, among other things, the suppression of prices, and the manipulation of credit, which in china are carried to extremes. >> and the you look at the chart of copper, you only have to be led to believe that business is deteriorating, it's getting worse, and of course that leade me to the fact that the fed is just going to continue to be there. >> yeah. >> it all comes back to the fed. >> it does, until -- >> it doesn't. >> people rebel against the fed. they rebelled against the fed in the late '70s. don't forget, j. william miller, then chairman to have the feder

if you look at the first of the program you have very early, young vibrant mendelson;