and after many years, only 95 million of funds were utilized which left us unspend bond capacity. so, as director hartly mentioned, in 2016, housing advocates identified an opportunity to rehouse. to meet the goals of anti displacement, of bringing housing into permanent affordability and providing low cost and long-term funding for capital needs. the board of supervisors with legislation sponsored by supervisor peskin and then supervisor breed, placed proposition c on the ballot and it was passed by voters in 2016. so the proposition c language specifically added preservation as an eligible use of bond funds in addition to the seismic retro fitting. there are 104 for the below rate loans and 150 for market rate loans. all other requirement in proposition remaining, including for resource hiring. the legislation before you will implement proposition c by amending chapter 66 of the administrative code. it adds at acquisition and rehabilitation as the eligible use. it designates our steed-wide affordable housing committee as the body that would approve loan applications. it also req