. >> i introduced this supplemental appropriation for the public campaign finance fund. we introduced the budget before the first vote. over the past several years, as part of the budget-balancing process, 7 million has been pulled from the fund. and makes it very doubtful if we have the right amount of money to meet our obligations for the campaign finance fund. this is special especially in the context of the elections happening this year. we have a new system that will be played out for the first time this november the candidates running for office will be able to work together to get a common message out and at the same time differentiate themselves to the voters. this should be robust and meet the needs of those running. the fund is to make sure that we have a way to prevent candidates from having to go through looking for not so great sources of money to be able to run their collections. i know it comes with a cost to move us forward but after having talked with the director, not it is really close to having the exact amount of money that we need for the elections t

the first copy is in the financing districts. we made a decision to recommend, because of the uncertainty that fred talked about, we'd like to move from the redevelopment project to a project that is financed by bonds. there are a couple of key differences that we will highlight. some will be on land use authority. there is actually less funding available. that has got about $130 million of impact on the budget and how do we make up for that and how do we account for that? that is the crux of a policy issue. you went to your last commission meeting and talked about outside experts. we have chris from the council. he has done a lot of work in financing. he is a bond underwriter. he is here and available for questions. a lot of this will impact housing and some of the recommendations. fred talked about this. the state has put forward a proposal to cut redevelopment. there is uncertainty, even at a project like this that has the project redevelopment area a doctor like this. treasure island is even further back than this. we do not h

the show raised some questions about the finances of the central asia inter-- institute. that's a nonprofit agency that he cofound. in a letter to his supporters, more tonson says he stands by the information conveyed in his book. the faa is scrambling to enact new rules for air traffic controllers after some scary cases of controllers falling asleep on the job. allison burns reports from our washington, d.c. newsroom. the question is what took so long? >> reporter: in some of the most scary cases, pilots, including one on a medical flight, had to go it alone and land outa -- without a controller leading him in. the new rules announced yesterday, require that controllers now have a minimum

the financing of movies. so the financing has changed. >> yes. >> you worked on three recent "ocean's eleven" movies and the actors in that case regularly command what, $20 million a movie? >> yeah, a lot of those. >> $20 million a movie, individually. >> right. >> how do you afford those salaries now? and tell me how the financing of the movie business has changed. >> well, you can't afford those salaries now or then. you couldn't afford those salaries. i got them all together in a room, and i said this is how much money i have. and this is how many points i have on the back end. it was all about the back end. and everybody, we cut the money up. >> back end meaning they participate in what the movie makes. >> gross proceeds. first dollar gross, which is a great way to make money. >> this year's oscar winner for best picture, "the king's speech." >> i loved it. >> tell me about that. it had a budget in the neighborhood of $15 million. >> yeah. >> but now they're talking about grossing $300 million. >> who is

that included for a number of years, when the budget deficits were high, we eliminated the finance director in the controller's position that existed at laguna honda, and attended to consolidate the finance director function with the san francisco general hospital, for both hospitals and the controller function also. when we discovered in that process, while many of the accounting activities at laguna honda are fairly static, not that difficult to manage, there is a need for a greater finance presence around issues such as this. in many cases, detailed transactions do not get the oversight they need. so we now have a finance director position included in our budget for laguna honda on an ongoing basis separate and apart from san francisco general. we also have a senior financial analyst to assist in that management. both of these are new positions that did not exist prior to a year ago. we were able to bring those positions in, in connection with the rebuild, as part of the transition budget, and now we are working with the mayor's office, comptroller's office, to make sure that that is par

redevelopment, unfortunately, the infrastructure financing districts do not raise as much money as the tax increment financing of a redevelopment area. that is just a fact of life. i think the staff of the office of economic development and workforce development and the development team have done an excellent job in informing us of how the ifd's work and the difference between that and redevelopment financing. i think that our members understand that very well. we were given an opportunity to ask a number of questions, and we are very satisfied with the answers that we received. i feel strongly that the city has been waiting a long time for this project. people have been talking about it and looking forward to it. the jobs that it will create are an enormous and will greatly support and improve the economy of the whole city. my heart goes out to those workers who have not been able to work for such a long time. i want to see them working. i want to see this development go forward now, and not be delayed any longer. and i will support the approval of the eir and later will support the a

all of these things are connected to the finance of our society. so we need to really get into the mentor and leadership dynamics with a bank. somebody needs to find out really what's working in our society. and i think this is where these kids are really left out. they feel they are not apart of the inner workings of our society and how it really connected our beliefs and how important they are not scheme of things. it's not just about basketball and football. they need to get with the finances of what goes on here in this society. >> thank you. next question >> yes. i had a quick comment. i wanted to follow up on communities that are outside of the regular realm of crn. we need and crn over there. i wanted to say within the last couple of youths. we have all kinds of youth cultures and we have a huge latino population. most of those kids are young. we have been having our convenes meetings. all of us agree. none of us have the structure. we need to have someone get involved with job opportunity. we need that in the t l. >> that's my comment. >> i

does not have a sufficient amount of salary dollars,, and these will be pending shortly before the finance committee to correct the shortfall in these departments. those shortfalls have been known to the mayor and the board of supervisors, and we have reported these in the last few projections, the second part of the restrictions on overtime speak to the individual over * for the individual employees. over time is limited to 30% of the regular hours for each employee, and for those employees working full-time and the legislation does exclude the emergency and critical service employees, and we typically see this to be the police officers and firefighters. unless those employees are working in the non-essential categories. under this section of the code, this may only be assigned one work cannot be completed during the regular work hours, and that the department request waivers for the selected classification, and this must go to the department of the human- resources director, and the office the man's monthly reports so that the departments can monitor the use of overtime by the employees.

there are further changes are described in a memorandum sent to you, mostly regarding changes in the financing of the project and some other changes in the development project itself. we did not find any of those light changes to change the analysis or conclusions of the eir. commissioner mazzola: thank you. i am in favor of approving this. as far as affordable housing goes, and there has been some questions about this -- in the case of redevelopment and in the case of ifd's, in both cases we are well above the minimum required. i think that is important for everybody to understand. 25% is above the minimum. the affordable housing advocates on treasure island, tihdi, are asking you to approve this. so is the citizen's advisory board. i feel that this horse has been beat to death. i am also a new commissioner, but this has been going on for 10 to 15 years. we cannot afford as a city to let this project go. we cannot delay it and delay it and the late it. it makes the sense. it is time. it is ready. like my colleague just said, and some building trade members in the audience have said, the trade

if fiscal consolidation so the big main issues ease how to finance. the growth the growth. rate where you answer that very important investment he ne'er in the sector. such as infrastructure such as research innovation energy and environment and without the finance disinvestment when. they do feel to do it with their badge reserves but but many european countries they are undergoing major spending plans. these days this it mean that the european model are worth first state has failed i don't think they'd see it via levy the we could in europe. two to twelve eight really important reduction. of the rights and the killing of the services of the so-called welfare state the political. politically brianna. do not do not. accept. it and the government will. lose in this case the the support of the of the of the population but we have to promote the fact to. a welfare state costing less. and if this is possible this is possible with the two main measures. a very a very strong in the way to use over new technologies of the information. knowledge use and second in the organization o

this year, i served as chair for the budget and finance committee, and that is definitely a focus for me in the coming year. we are also looking at how it is that we continue to have systemic gaps in our budget year after year. what are the reasons for that? what are the cost drivers that might be driving it? what are the not-controllable economic conditions that drive that? part of the issue will be pension reform. that is something that i think is on the minds of many people, not only in san francisco, but elsewhere around the nation, and it certainly will be a topic here as we look at how it is we can control some of our costs and understand where our trajectory of our budget deficit is going to be. certainly, the budget is not simply a numbers issue. it has a big impact when you translate it into the lives of our residents. when you are talking about deficits that may impact the morning commute because you write muni -- you ride muni, or whether we're talking about closing down seven facilities, or whether we're talking about impacts to services, there is an impact to residents, s

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redevelopment, unfortunately, the infrastructure financing districts do not raise as much money as the tax increment financing of a redevelopment area. that is just a fact of life. i think the staff of the office of economic development and workforce development and the development team have done an excellent job in informing us of how the ifd's work and the difference between that and redevelopment financing. i think that our members understand that very well. we were given an opportunity to ask a number of questions, and we are very satisfied with the answers that we received. i feel strongly

we have the deputy director for finance administration. cynthia? >> what i have before you, every year are around this time we take stock of our revenue trends. we are recognizing new plants and taking a look at the unforeseen expenditures from the budget that we put together last year. this is on page 19 of your package. on page 23 we have a cable, what we are proposing to increase and decrease, and we would like to see the proposed amendment budget be after rate change item. i can walk you through the changes we have for the budget amendments. first, a new grant for a city car share. increasing revenues by 285,000 by november -- revenues by november for the presidio parkway project. as you recall, this came before the committee last march. we also have the central subway project, where we are increasing revenue to be collected. we anticipate it being used in the last fiscal year. mta was able to find other funding sources for the central subway project. we also have the street lamps, decreasing 2.6 million. caltrans has been working on much larger

our major concern is would this actually negate our affect our ability to get the financing. and beyond that i would have to get a better idea of how soon the project will be done. commissioner antonini: here is the thing. what i am going to say is i am not o supposed to a sport continuance but if we did have a continuance and if it was voted that way, i would like you to come back with a report to the financing and specifically with a bank source or other institutions that you might speak to and whether there is, in fact, a deleterious effect. it might not be and it might be that they're cleaning the neighborhood up and making it more easier for you to get a loan. i am not saying that is the case, but certainly wouldn't hurt and i would like to hear that because that will lead me if there is a second vote to how i will vote on that depending what kind of input you have. president olague: commissioner moore? commissioner moore: i wanted to pick up on what commissioner apt ant just said. it is not really trying to drag this out and not support it, but i am really tired of work

what we need here is some deliberation about the financing aspect. the infrastructure financing district has not been tried or tested on such a large scale. we just cannot take it for granted. what we have here is a moving target with a lot of amendments , the documentation that is not transparent. you notice the same three planning commissioners who were against hunters point were against treasure island. we need to get a bigger group of planners on our side. i know the developer wants to make money. but for some consistency, we have to provide good affordable housing. we did this at the presidio with swords to plowshares. i know what i am talking about. i am in talks with the united states geological survey. i suggest that you get the latest map and perhaps bring an expert from the u.s. geological society so they can explain to you about the seismic conditions. thank you very much. >> good afternoon. jim lazarus, san francisco chamber of commerce. a lot of projects have been around for a long time. there was the library and playground expansion vote

the physical work. in terms of financing in the city facilitating financing, the bond in the 1990's, it was supposed to be divided about 60- 40 in terms of the market rate. the market rate program and has barely been touched in part because at certain times, private financing. and from what i understand because we have made it so onerous and bureaucratic to take advantage of what people wanted to deal with, we really created a bunch of that money and people were taking advantage of the market rates. how do we provide access to financing that people will actually use to do the work? >> that is a very long question. if i don't adequately address it, anyone of us would be happy to sit down. your first point is about mandates versus voluntary programs. we did a lot of research on what communities have mandatory programs, what have voluntary programs. some people will respond to voluntary programs, voluntary incentives. by and large, projects such as this done and get implemented unless they are mandatory. it is a sad reality. where is the money going to come from? the city has a substantial financial issue

beyond the constitutional issue on financing, it was made clear at the governor's office that they did not have an interest in financing the state budget. that became an issue that we could not work past. all totaled, in addition to the proposal, the big tent city mayors came up with, there were probably at 1.27-30 alternative proposals floating around sacramento. there are two that seem to be under consideration. one from the california redevelopment association and one from the city of long beach. they mirrored one another in a couple of ways. they are both voluntary. they are both a two teir structure. another tier has to deal with the portion of redevelopment that goes towards affordable housing. this proposes a voluntary one- year breach direction of affordable housing at 20% directly to schools. the long beach proposal gives a longer-term of the reed direction of the funds, a portion of which would go to the state to help balance the budget. another portion would go to a new statewide fund. the city of san francisco at this point has not officially gotten behind either one of tho

they need to do that in order to make the project financeable to large scale lenders. they are trying to schedule it for opening in 2014. that is how far out you have to project with the time for construction. this is an extremely bold move in this market to decide to build a building for 2014 that shows a great deal of optimism and hopefully wisdom in bringing these projects online at that time. we are also providing flexibility ottoset of the marketing. there are studio units and there is a possibility if a demand arises to actually combine a studio in the two bedroom to create three bedroom unit potential. so what we are doing is keeping a maximum option available to be able to respond to the market. it is loved by the lender it is and buying community and it protects the developer as well. the units are smaller than units that have been up there and that is by conscious design on the part of the developer. that is what people have done to get in trouble on a lot of these units, they were buying gross square footage. what this developer has done and is attempting to