vincent de paul in 1972 in to response to displacement because of redevelopment in the 1960s. in august of this year, hud's 40 year mortgage on the property matured and in order to obtain funds to support st. vincent de paul's other charitable programs, that organization decided to sell the property to ghc housing partners. this entity will rehab the units and has commit today maintain those units for low-income seniors. of course, we want to do everything we can to make sure we allow low-income seniors to continue to live in the city. this entity will also begin a social service program for residents, a program that was nonexistent before. for these reasons i will be asking for your support of a resolution that i'm introducing today that would authorize an application to the california debt limit allocation committee for revenue bonds for vincentian villa. this financing conduit does not -- the city does not require that the city pledge any financial commitment or repayment of the bonds. but again it's an opportunity to make sure that we protect senior housing and i want to t