updike. colleagues, any questions right now? okay, mr. rose, could we go to your report, please? mr. chairman, members of the committee, based on the latest information that mr. updike has provided and we have not analyzed this latest information so we could consider it to be a policy matter. we would emphasize, though, that going forward our recommendation, which is shown on page 23 of our report, is to request the director of real estate to include language in future purchase option agreements to require appraisals and other due diligence procedures prior to negotiating specified purchase prices for the city. okay, thank you very much. colleagues, any questions? okay, at this point we'll open up for public comment. seeing no public comment, no members of the public at all, public comment is closed. supervisor avalos? i think it's great we got something a little better, $70,000. it's actually, you know, a very small amount of money and i guess given an amendment from the budget analyst looki

updike privately. i asked to speak to me about the rational of this and so forth and i am very appreciative for you to come and meet with me to actually explain what the process is, and what kind of latitude you had in your decision making, and your explanations to me were logical to me, but what came out of that discussion was we could tighten up the language administratively in terms what we could ask your office to do and not do, and i understand that these type of situations don't occur too often, but when they do occur we should probably have some policies around it where we could give you guidance. it seems like there is very little guidance at this point, so because of your explanation and because of the situation we're in and because of the latest concept you came up i will be supporting this. >> thank you. supervisor cohen. >> thank you very much. mr. updike could you tell me what activity is going on there now? >> yes supervisor cohen. we are currently using the property for storage of materi

certainly updike dale and i guess mr. white male. a lot of people knew but and i would often say that if he ever would let me photograph him that i would literally stand there and take a picture and at the film came out of my camera i would hand them to him and he could put them in a vault so until after he died or do whatever you wanted. i thought he would be photographed and one day i'm in california and the phone rang and this man says hello this is mr. shaw and i hope i'm not bothering you. he said will you know i want to know if i could impose upon you for a favor. i said absolutely. he said will "time" magazine has recently interviewed me for the anniversary of the magazine and they wanted to photograph me but i told them i r.d. had a photograph but i really loved of myself and i was wondering if he were too busy if you could come and take that picture. i said i will be there tomorrow afternoon. that was an example of something that worked out with patience and then when the picture appeared in "time" magazine i let him take th

updike, you are back. welcome. i am back. john updike, director of real estate. so this is the item continued to call of the chair, 1995, evan street. the committee asked us to go back to ownership, seek further price reductions if at all possible. we did that, had a discussion with ownership. actually we're working with the son of the widow in ownership as trustee. there was not a lot of movement, to put it mildly. it's reflected in the documents before you today so we did, however, secure a waiver of the amount of rent that would be due for the month of january, that's $70,000. that is not recoverable through the go bond so real pure general fund savings that we did exact. what we all did was took another look at the market place because i think there's just some grave concerns about the disparity between our amount of the transaction at now an effective price of 15,405,000, and the appraised value. so let me speak to that briefly if i can. the property's a little over two acres of land but more importantly, and i think we may have lost this in our discussion l

updike. >> thank you, supervisor system kim, chair, good afternoon.to satisfy their inclusionary housing requirements through the dedication of land to yield a required number of housing units. in this case, the developer, which is archstone concourse llc, whose general partner is equity residential, plans to develop -- excuse me, 432 units at 801 brannan and 239 units at one henry adams. here are those two locations on the overhead. and elects to satisfy all of the inclusionary housing requirements at 100 adams and a portion of those at 801 brannan by dedicating to the city the roughly 3/4 of an acre site, which we through the mayor's office of housing. this property is valued at $24,750,000. transaction pursuant to the code provision occurs at $1. again although i know you are very familiar with this site, there is a look at it in an aerial so the. 1 henry is just below the picture. and for better perspective which site the city is receiving as part of this, you can see this is a site plan, which shows on the right side of the plan the future housin

updike colleagues any questions at this point why not move to the budget analyst report. >> mr.hairman the purchase price of $15 million plus is part of the total of $165 million budget for the 1990 evans in package 4525 of our report the project will be fund by the earthquake you safety proceeds on page 268 of our report the proposed perspire price is for one million dollars $15,000 plus 2 percent more than the cb r e purchase prices of $11 million plus we also note on page 26 the negotiated purchase price of $179000 per square feet as shown on table 5 the average price per square feet is comparable which translated into 3 hundred plus for the 89 thousand square feet and the 1995 evans street if the lowest price at 6000 third street at one hundred plus per square feet the average price is one hundred and 64 thousand dollars at an estimated one million dollars plus for the 89 thousand plus at 1995 evans street the proposed million dollars purchase price would then be 8 hundred thousand plus or 5.8 percent more than the amount that is including the lowest price comparable propert

who i read through high school and college and graduate school, this is so weird, but it's bellow, updike and roth for me. and even though there are good books and bad books, my very favorite books are really those three. the human stain and rabbit at rest and humboldt's gift. >> that's like a literary showdown kind of question where you go, okay, bellow, roth or updike? >> it's such a cliche though. these are my guys? i don't know. >> all right. we will turn to your questions. >> okay. i need recommendations from as many as will give them. having exhausted anthony trollop and jane austen, who would be in that world that i could read? >> we're going back to 19th century england. >> with some wit. it doesn't have to be england, but some story, plot character with some wit like them. >> um, read nancy mittford, love in a cold climate and in pursuit ofover love. you're nodding because you've already read them, yes? oh, you haven't, okay. also a book i just finished reading a couple days ago "brother to the more famous jack" i loved. i can't explain to you why that connects but it does. these

updike. i have a fundamental problem with this item because what you have here is you have a proposal for the city originally to pay $16 million. now the amount is down to 15.$4 million to buy a property that our own appraisal through the process that we completed noted is worth 11.3 million. in other words we will be paying more than $4 million more of taxpayers money than the appraisal that we requested shows. i just don't think that we should be engaging in that kind of a transaction where we are using taxpayer money to over pay for a property to the tune of $4 million, and so can you explain to us what happened here? how is it that we got to this point? because on its face this just looks horrible. >> thank you supervisor campos. through the chair john uplike director of real estate. i appreciate the ability to clarify where we stand on this item today. i would take issue with the potential that we're over paying so as the budget analyst noted there is more recent data that we believe spe

updike. we would be able to build in the recommended process issue from the budget analyst into our admin code changes that you are going to be seeing soon at the full board during the spring. so i think we have a path to be able to make amendments, where appropriate, in the code. so that will give you that certainty of process in the future. great, that would inform the amendment. great. supervisor avalos made a motion and we can take that without objection. madam clerk, do we have any other business before us? item no. 8, ordinance appropriating approximately $200,000 through the public works operating budget in order to support and maintain portable restroom facilities and way stations in fiscal year 2014-2015. okay . we had a presentation last week on the program and this is appropriation to be able to continue it, which i think would be a worthy thing to do. it went from supervisor kim's office, i'd like to propose that i would be supportive. we don't even have to have comment but clearl

family read a and readings are high-school and college and graduate school this is so weird but it is updike and roth for me. the rabbit at rest. >> it is like of literary showdown. >> it is such a cliche. >> i need recommendations. who would be in that world? >> go back to 19th century england but with that character? >> you are nodding because you have already read them? no? also a book by just finished reading a couple of days ago i loved, i cannot explain why that connects but it does. they are new books. i write all of these things down and they are there. also, ma liz gilbert's novel the signature of all things because she goes back to be imagined those perelman's any meaningful way. >> what about jersey? is he still with us? >> he killed himself. >> oh my. >> he was discouraged someone said he had help with translating his books and he seemed to be depressed and he felt his work was done so he checked out. >>. >> it should one read books if they're not a child. but the books are short i have a lot of books to read also because the people in it to those that were an existence with gret