Transcripts For SFGTV Government Access Programming 20240714

Of supervisors, pending two more votes. Once that is completed it will be on the ballot in november. This is really incredible given in 2015, when we had our last housing bond, it was 310 million dollars. The amount has doubled, thats really exciting. We have also talked about putting Affordable Housing in the citys capital plans. We are really planning for Affordable Housing needs as part of our overall city needs and that we are accounting for that every 45 years. When we have expanded the bond proceeds that we are in q4 coming back for the voters to fund the Affordable Housing needs that we have two meet what our residents need. The bond will Fund Acquisition construction improvement, rehabilitation and preservation and repair of Affordable Housing. The bond funding will further our offices work in meeting the need for the population of people that we care about, including persons with disabilities. It would do so by providing the funding that we need to build out all of our new construction Affordable Housing. Those housing projects meet the needs of persons with disabilities through assessable common areas and amenities on all of those sites. Those are include 90 of units that are adoptable. 10 of units accessible with mobility features which is double the amount that is required. Those percentages are higher in senior and Supportive Housing projects. 4 of the units, in the new construction project that we fund provide communication features. We also include a preference for persons with disabilities, in projects and consider reasonable accommodation as well. Funding for Housing Preservation is really important for protecting persons with disabilities who are living in existing housing that may be at risk of displacement due to the housing either being converted to market rate housing or falling into physical disrepair. The 600 milliondollar total for the bond is broken up into these five categories after a process where the mayor and board president , convened a Stakeholder Working Group process and had deliberated with Many Community members and stakeholders about how to proportion the many needs that we have for Affordable Housing. The consensus was to provide the following amount of funds in these categories. 150 million for Public Housing, 220 million for low Income Housing serving households up to 80 of the area median income. 60 million total for Affordable Housing preservation and middle Income Housing which serves very low income households at 30 of ami for the middle income portion at 175 of the area median income. A new category that was not included in the last bond specifically which is for Senior Housing. That would be 150 million for households up to 80 of area median income. Finally, 20 million to fund teacher housing serving educators from 30 up to 140 of the area median income. Im just going to talk a little bit about these categories why there is a need to fund Affordable Housing in these categories. Our Public Housing needs. The city has been committed to revitalizing our extremely dilapidated Public Housing through the hope program. We are at the remaining stage of revitalizing two additional sites which is at the sunnydale site. The funding that the bond would provide would be to address the emergency and life safety repairs that are needed for the existing units to rebuild and replace the housing remaining at those two sites. Also to add additional Housing Units at those two sites. And to really complete the work that we have begun to really revitalize the housing and infrastructure needs for these communities. The 150 million would be as an eligible use to go towards the repair and rebuilding of distressed Public Housing. Prioritizing sites that have these urgent capital needs, creating new Affordable Housing units and accelerating the construction timelines of these units because we know that the units are in a very poor physical condition. In terms of the low Income Housing category. We know low income households are most at risk of displacement here in San Francisco. These are populations that we want to house, and its really important for us to do that. We continue to need to build more Affordable Housing to meet the needs of households at these income levels. Unfortunately, we dont have the federal resources, they have been in decline for Affordable Housing for low income families. What this bond would do is enable 1,000 more units of Pipeline Projects to Start Construction in the next four years to serve residents that are seniors from homeless individuals, veterans and families. Also, while we await a decision on proxy funds tos tran07 funds. This funding will help kickstart predevelopment, for securing new sites for Supportive Housing. The 220 milliondollar in the low Income Housing would go toward the construction acquisition that we have permanently Affordable Housing that would serve individuals and families earning from zero up to 80 of the area median income. Prioritizing projects that are ready to Start Construction in the next four years. Which will include predevelopment funding to jumpStart Construction where we have permanent Supportive Housing. Projects that are close to public transit. Projects that can leverage additional funding whether through the state funding or other resources to leverage the city dollars that we are putting in. Also projects that are located in neighborhoods with limited Affordable Housing. In terms of the preservation need. We know there are extremely low, low, and moderate households that are at risk of being displaced from the city. Through our work, our small Faith Program and other preservation work its really critical that we acquire and preserve existing Affordable Housing so we are keeping low income and middle income households in in San Francisco. The bond would also go towards this need. We have an older stock of Affordable Housing that is in need of rehabilitation. The bond funding would go towards the need to rehab and existing stock of Affordable Housing that are in physical disrepair. 30 million for preservation under the bond would go towards the acquisition i rehab whether it is at risk, due to loss of affordability, or the buildings physical decline. We would be prioritizing. Buildings are at imminent risk of conversion to market to rate housing. We would look at neighborhoods prioritizing doing this work in neighborhoods where there are limited Affordable Housing production and also a documented high eviction or displacement rates. In terms of middle Income Housing. This is a group of households that we definitely want to serve. Unfortunately, the market does not produce housing for middle Income Housings houses. We are also we dont see Funding Sources to meet the need for building middle Income Housing. The city is a critical source of funding. We provide a critical source of funding for building middle Income Housing. Providing firsttime homeownership opportunities for low income households to be able to purchase a home and stay in San Francisco. We have an affordability gap in the bond would be helping with that. The 30 million for the middle Income Housing category would go towards the creation of new Affordable Housing opportunities for middle income households with assistance loans, purchases for building or land for new construction that would serve middle income households. We would prioritize down payment systems, loans for firsttime homebuyers and also we have a teacher next Door Grant Program that serves the San Francisco Unified School District educators. This would be serving households between the 80175 and 200 of the ami. This new category of funding under the bond is for Senior Housing. The working group that was convened by the mayor and the board of supervisors identified this as a critical need as San Franciscos population continues to grow and age. We have found that we have not had the pipeline of projects serving senior households keeping up with the pace of the needs of a growing senior population and so it was a priority for the mayor and the board to include funding specifically as a category to meet housing for seniors. We have for that in the bonds, 150 million specifically for creating affordable senior rental housing through new construction and acquisition. We would be prioritizing projects that are ready, able to leverage Additional Resources and locate neighborhoods where there is opportunities for production for Senior Housing. This would be serving households between the extremely low to low income categories from 080 levels. And then finally, is a new category for funding under the bond that we do not see in the last cycle which is for educator housing. This is a critical need to, because we have seen attrition annually in the San Francisco Unified School District where teachers are leaving because of housing affordability, thats one of the factors they have cited. We have seen through these surveys that the majority of teachers and para educators are saying that they have some level of difficulty, very difficult, or somewhat difficult ability to actually afford their housing costs. Including 69 of teachers surveyed, saying they pay more than 30 of their income towards their housing cost. We know retaining teachers in the school district, is really important for the stability of our students for the growth and success of our students. Addressing the Affordable Housing need for teachers or something that we wanted the bond to include. That is why there is a 20 milliondollar category in the bond for educator housing that would go towards predevelopment and construction of permanently affordable educator housing serving San Francisco Unified School District and city college of San Francisco educators , and employees between the 30140 ami income levels. Similarly prioritizing the projects that i have mentioned before. With that, as i mentioned, the board of supervisors is moving the bond forward through the legislative process currently. We will soon be taking its last two votes to move the bond onto the ballot. We are really excited for that to happen. For us to have the opportunity to basically use this large amounts of critical funding that we need to advance our mission. Probably early spring of next year, we will start with the first issue is of the bond around 200 million and then be able to issue a notice of Funding Availability for projects to come forward and apply for funding. With that, i am happy to take any questions. Thank you for that excellent presentation. Do any Council Members comments or questions . Yes. Weve got sally, and councilmember madrid and councilmember sassouni. First of all, i apologize, i was supposed to send you a list of questions from the council and i realize i never did that. I appreciate your presentation. I have a very basic question. What is the ami in San Francisco the area median income, literally it is the median i know, what is the number . Let me pull it up for you. It is roughly 80,000 for a Single Person household. 82,900. That is for a one person household. It is adjusted for the size of the household. And then we can also calculate it at, you know, lower than that 100 and that higher ami. I can pull up the chart. I just wanted to get an idea of what 30 of ami actually was. When you Say Something is affordable, how is that defined . It is defined as 30 of that household income. Really . Okay. That would qualify someone for low Income Housing if they made 25,000 . In our low Income Housing category we have units that are between people who make a 0 of the ami, up to 80 of the ami. The affordable rent to would 30 of that household income. Our units are priced at a range of incomes between the zero and 80 low income households. The moderate income household level, we have done much less of the moderate Income Housing, because unfortunately we do not have other Funding Sources to really leverage for building this type of housing. For low Income Housing we have something called tax credits that we can use, and that is the 080 level. For middle Income Housing it is all city subsidy. We have done some, but very few of these units. The ones we have done we are looking at excuse me the 80 up to 120 of ami typically. We do have the down payment assistant loan program. That does serve up to 175 and 200 of ami. We have been meeting the needs of middle income households primarily through firsttime home loans. We have done some new construction housing for middle income households. Much less than we would like to. For the low Income Housing we are serving between 080 of the ami. It is assuming someone satisfies that low income statu . There has to be more people wanting housing. We use a lottery system. We have a great housing portal, we have counseling agencies. If someone cannot go on their smart phone or a computer to look at all of the listings we have on the site and apply they can also go to Housing Counseling Agency to help them with their Affordable Housing search and application. Through that housing portal, an applicant can look at what they, can apply. Redo the placement of those units, the occupancy of those units through a lottery system. The city also has something called housing preferences. This is mandated through our city laws. We have preferences for cop holders, people who were formally displaced from San Francisco do to redevelopment actions. In the western addition. We have a displaced tenant housing preference, this is a preference for people who have been evicted do to an eviction or fire. Then we have a neighborhood preference. If someone is applying for, a unit in a project. Helping residents to stay one that neighborhood. Finally we have a live work in San Francisco preference which captures the large segment of applicants. Through that lottery system, people that fit into these preferences are prioritized essentially. Okay, who is next . Alex. My question is, Affordable Housing, i know some of Affordable Housing is 15002500, speaking on people with disabilities, most of them receive ssi, does that consider qualify for those Affordable Housing . How would you, or the city fix that . Because, as you know, the city of San Francisco, when they are doing Affordable Housing the amount is already [inaudible] what i am understanding your question to be, is how do we meet the Affordable Housing needs of people who are extremely low income like with disabilities, or seniors who are on ssi and have limited income . That is a challenge we have been addressing. Typically in the Affordable Housing stock, what you see in our lotteries are units that are 30 affordable at what is priced , that is because of funding requirements we are seeing. With changes in rules of the tax credits, we are allowed to do income averaging. That might be more technical. But now we have this tool, when we are using tax credit financing for projects we can use this new option to provide basically income averaging an hour units. As long as projects are averaging 60 ami, we can do a range of units that serve less than 60 , up to 80 of ami. That will be one tool we can use to provide units for households that are less than 60 of ami. Aside from not tool, we do recognize the need to have more rental subsidies and access to rental subsidies for those extremely low income households. And, the mayor and the board have addressed this by including funding in the budget for rental subsidies for a populations of people. I think the mayor and the board have included rental subsidies, i think, up to 10 million in rental subsidies for different populations of folks. We recognize that there is a need for doing that. Board president yee is in the process of creating a senior operating subsidy. It is project need, rental subsidies that go towards the households to help them pay their rent. Or, the buildings need operating subsidies where we are basically helping to meet the gap and what tenants are able to pay and how expensive the projects are to operate. It really is trying to find more rental and operating substitutes. We have been trying to do that for the budget process. The city of San Francisco, section eight,. [inaudible] i think it would be great. I dont think there is any more voucher capacity. I think you are bring up a great. It would be incredibly helpful if we had additional voucher capacity and we were able to issue more vouchers to households who need them. Hi. This is a brief comment, question rather. I was looking at your Powerpoint Presentation and it looks like you are prioritizing 4. 5 regarding children in Public Schools, talk something about 4. 5 of children there, im assuming that youre talking about k12 grade children . My son for example, goes to school, and he is in the San Francisco public unified in the school is full. The classes are really full. I dont even understand how they do it. We definitely need more teachers. Im wondering how children how we are going to deal with this in the future with the rise in . I am wondering where you get the numbers from . 4. 5 seems rather low. Am looking at the site currently, im not sure if i see 4. 5. There was a percentage based on the s. F. Unified school district, related with educators in San Francisco unified. It was referencing the children, just wondering where that percentage was based on . I looking, bringing up the slide, there are statistics about the San Francisco unified district requiring 3600 teachers to meet their classroom needs, that maybe the statistic . 10 attrition rate. Specific the child population. Where did you get the numbers from . Maybe its a previous presentation where it was discussed, there was 4. 5 of children that live in San Francisco are in the Public School system . Im sorry, i did not reference that number. Maybe the question is also about how are we going to meet the needs to continue to increase specifically thinking of the families with children and families that live together in a household. Part of the population, im just assuming, maybe this is from the other powerpoint. Im thinking, are we talking about the entire population of San Francisco . Which population are we referencing . I thought that count was low. I know we never we need to hire more teachers in the future. Im wondering what the prediction of population among children will be in the future . If that references Different Levels of income and households in the city . Are we talking about a family in a one bedroom . When we talk about families in general, with children, there is a variety of living spaces, you know, and so many people, especially families are leaving the city because they cannot afford to live here. They cannot afford childcare. They are working on paying for child care and they cannot afford rent. There is a lot of factors involved with being able to stay in San Francisco. If you are thinking about bonds that will assist families, families with children. Im just thinking of, you know, we are thinking of not, you know, traditional style housing are wet people might imagine that should be. If youre thinking of the range of people that would be served by that those bond resources. My concern is lower income families, families with disabilities and obviously families with children. Our office funds a variety of types of housing including family housing. Family housing serving low income families. And all of our projects we include high number of 23 bedroom units in those projects. In the ground floor, of our projects, we also include Many Community serving spaces including Childcare Centers on facilities. That is built into the work that we do with our project sponsors and the Affordable Housing developers in meeting the needs of family when we are looking out the projects that we are funding and building. We do have an existing teacher housing project, that is currently is in our pipeline in the design, predevelopment phase. That project will have a range of bedroom sizes to meet teachers that are single, two teachers that have families that are in families and have kids. We have studios up to three bedrooms in that project. I think that is something we absolutely agree with and care about. Very cognizant of the teams need to meet the needs of families. That is why i was saying, especially when we are talking about young children. If we are discussing that percentage, i know it impacts dollars potentially. Were talking a lower percentage. Out 4. 5, which child population are you referencing . Especially for the families that live in San Francisco. I know sfusd, the schools are full. My point is just that we look at the numbers, and how they are impacting the resources that we are trying to get so people can afford to live here. I agree. Next is helen. Thank you for your presentation. Quickly, you had mentioned one of the priorities for the use of the bond money is physical accessibility, and some of the properties . Yeah, i mentioned that describing how we meet accessibility needs for persons with disabilities generally throughout our Affordable Housing pipeline. You know, the bond funds housing in all of these categories that i have described. Some of that work is rehabilitation. It is existing Affordable Housing, or existing housing that we are trying to preserve from either conversion to market rate housing or falling into disrepair. A large bulk of that funding will go into new Construction Projects or new projects that we are building. For all of our new Construction Projects that are funded by us, we do have these requirements around meeting accessibility standards for the developers of those projects. Have noticed in the language, around this topic, that often accessibility is also used as a blanket term for economic accessibilitys. I just wanted to make clear we were talking physical accessibility . Thats right. You had said that his recently mandated rule within your department . I guess my broader question is, when did this become mandated . I dont know exactly when. I can find out. It is sounding to me like it is a newer rule. It was something i assumed had always been in place . I dont think it is a newer rule. If i did say that it must have been misspoken. I apologize about that. But it is a rule and it is one that is followed by the city yeah. They are federally implemented rules. In San Francisco we have chosen in some circumstances, to go above and beyond the minimal requirements that are prompted through tax credits and other triggers. Okay. All right, kate. Kate williams. Thank you for that presentation. When you refer to the list of lotteries, the input that i have from so many seniors, most of those lotteries are simply closed. Which more or less locks people out of any option. There may be lotteries, but what happens when the lotteries are closed . What are the other opportunities for people to get on a list . My input is that most of them are closed. We have, i think, the applicants that are looking for Affordable Housing should sign up for email subscription under the dahlia portal so they can get updates whenever there are new projects that come online, or even existing units that become vacant are now available for applications. That way people are getting up information. Every time i have a new project that is coming online, it will be available throughout lottien the dahlia portal. We do have some Senior Housing projects in the pipeline that will be coming forward in the lottery system. What is great about this bond is that the 150 million set aside this typically for Senior Housing will ensure that we have a continued pipeline for Senior Housing. As those projects become are getting built, and they are nearing construction completion and they are getting ready for marketing and lease up, they will be on the portal for applicants to apply for. Thank you. Time is getting away from us, but i must have a moment, draw your attention to the rehabilitation projects. Real estate developers, and homeowners, people interested in real estate, i like the prospect of being able to take housing that is just really needs a lot of repair and maintenance. We have these properties and make them available for Affordable Housing. In the bond, without cover the range of families, low income families, seniors, disabled. Can you speak to that for just a moment. The bond does have a category for preservation. That would serve extremely low to moderate income, middle income households. We have done preservation work through our small sites and programs which is to help Affordable Housing providers acquire housing that would be at risk of conversion to the market , to acquire them and permit them to affordability. That program serves households, at a range of Household Incomes up to 120 of ami. There was existing Affordable Housing that was financed through a former bonds or loans that have been expired after 30 years. The bond will continue to fund that work through the preservation category. Excellent. Anyone on staff like to comment . This is nicole, thank you for coming. I would make a suggestion, while were talking about the bond specifically, and how it impacts disabilities, we might want to think about the different categories, and maybe adding a column that helps people understand especially when were paying attention to accessibility for people with disabilities. I dont know that the general public would assume that Senior Housing, for instance, also as accessibility components within it, assuming that as our populations age, they also have mobility and other communication changes in their life. We can maybe think about how to present that in away that the public can more easily digest the options that are available. That is great feedback. Thank you. Anyone else on staff . All right. I just want to thank you for your presentation. A lot of great information, and we will be going through that, and i do hope that we will be able to continue to cooperate with you in the future, especially if the bond passes. We dont have any more questions of you. Are there any speaker cards . No speaker cards, okay. Anyone on the bridge line . No one. Okay. All right, we finished that presentation. Thank you everyone for commenting, and asking questions. Thats outstanding. All right, we are right on 4 00 p. M. , lets go with public comment, items but within the jurisdiction of the mdc. Any speaker cards . No. Okay. Number ten, information item, correspondence. Staff, do we have any correspondence . None today. All right. Very good. Okay. So, number 11, councilmember comments and announcements. Any one of my colleagues want to make any announcements or comments . Going once. Twice. Three times. All right. So, we are to number 12, adjournment. Do i hear a call for adjournment adjourned. Moved and seconded. My guide dog sec. It. We are adjourned. Welcome, everybody. It is such a pleasure to be able to welcome you to our event to commemorate not only the acquisition of 270 turk street and the barcelona apartments, but to recognize the Partnership Among the mayor and city, the San Francisco Housing Accelerator Fund and others. The barcelona apartment is important, not only because of the accomplishment itself in this building, but also because it represents an important policy direction, and a bigger attempt to address the housing crisis in San Francisco. Please join me in welcoming our mayor and partner, london breed. [applause] thank you, don, and thank you for being an amazing partner in the effort to acquire welding his all over the safety to keep them permanently affordable. Because we know that having Affordable Housing isnt just about new construction, it is about making sure that we preserve existing Affordable Housing, whether its property that we built under the old redevelopment agency, that are in disrepair, or its buildings like this where we are able to acquire it through our small sight Acquisition Program so that we can keep it permanently affordable. Those are the things that are necessary to make sure that San Francisco is a more affordable place for all san franciscans of all income levels. We have work to do, folks. The good news is that in this particular efforts, they basically kept their eyes open and saw that this was an Incredible Opportunity for the small sight Acquisition Program. In fact, even though we are celebrating 86 units here, we know that number one, we have almost we have acquired almost 300 unit so far through this program, theres another 110 in the pipeline, which is absolutely incredible. I am really excited about the future of this program, but a more excited about the 600 milliondollar Affordable Housing bond on the ballot this november. [applause] because it also provides us with an opportunity to acquire more property. I see randy shot in the back. Thank you for coming. We just open the doors to the bristol hotel. Another incredible site here in the tenderloin, and we will continue to do everything we can to ensure that our residents have a safe, affordable place to come home call home. Nothing makes you feel better than to have a roof over your head, to have that kind of security, to know that you will be able to afford to pay your rent. This is not just about acquiring this building, this is about providing a new home for formerly homeless families, it is about providing wraparound supportive services, because we want to not only house them, we want to keep them housed. We want to make sure that they have a thriving existence while they are living in their homes, so sometimes it is just more than a home, it involves making the place feel like home and creating the kind of community that we know we can when we acquire sites like this. So i am very excited because this is like my favorite thing to do, and i think that we need to spread the word more about so many great things that we are doing to ensure affordability for all of our residents in San Francisco, and so i would like to invite you up to say a few words. He is one of the new residents of this incredible establishment come on up and say a few words. [applause] okay, hello, everyone. My name is richard, and i live here at 270 turk street in this building. It is really nice, yeah. I come from cambodia, and i came here quickly and settled down in this building with my family and i feel comfortable. I am happy in this building. I have some people who are from cambodia that live here in the tenderloin, and i am so grateful for this building, for the new owners, for the tndc. Everything, you know, is close, everything. Im so happy, and i will i am comfortable to live in this building. Thank you for everyone coming for today. Thats all i have today. [applause] thank you so much. Thank you. Rebecca foster from the San Francisco Housing Accelerator Fund. Thank you. Thank you so much. Stories like yours are why we all do this work. My name is rebecca foster, im the c. E. O. Of the San Francisco Housing Accelerator Fund and we are a nonprofit housing fund that was formed by the Mayors Office and Community Stakeholders like many of you who are in the room. Our job is to innovate smart approaches to Housing Finance that put public, private and philanthropic money to work to fund Affordable Housing. We were created to support important and ambitious projects just like this one. We are a nonprofit developer like our awesome partners at tndc. We are working every day to protect Affordable Housing, but they dont always have the right funding when they need it. When tndc approached us with this project, we immediately understood its importance. A chance to save 86 units and protect 72 current residents in the heart of the tenderloin in an old, beautiful historic building. We knew that if these residents would be displaced, and many of them are longterm teachers, nurses assistance, technicians, restaurant workers, they would likely not find another home that they could afford in San Francisco. To purchase 270 turk, tndc needed 24 million. About 18 million to buy the building, which is still a lot, and about 6 million for improvements to ensure that the building continues to provide a very safe and healthy place for all of the residents to call home. Our partners in the Mayors Office and the great team there will be able to come through with a longterm with the longterm funding for this building, but they didnt have the funds ready in 60 days at tndc needed to compete with market rate buyers to save this building. Deals that are over 10 million are often nonstarters for most lenders, but at the Housing Accelerator Fund, we pride ourselves in being a creative and flexible lender, and even for us, 24 million is very significant, but we knew how important this was, his we rolled up our sleeves and sprinted to raise 50 million in Additional Capital in a few months, working with the Mayors Office, and then working with the Mayors Office tndc and the department for housing for homelessness and Supportive Housing where we structure the partnership that the mayor referenced that is really the first of its kind so that we cannot only prevent the displacement of the current residents here, would also open up 24 units over the next few years so that individuals currently experiencing homelessness can also have really Quality Homes in this building. And not only is that the right thing to do and an amazing way to use the money, it also helped be the piece of the puzzle that helps the financial issue work. We are thrilled that we could step into support tndc and work with the Mayors Office of housing and Community Development to get this project across the finish line. This is really hard work. Deals like this happened really quickly and other small sights projects and they require very significant Capital Resources and a high level of collaboration and creativity and persistence, which is exactly why mayor breed continues to bring together such diverse coalitions of funders like ours to support muchneeded preservation of Affordable Housing. Some of those partners are here. Partners lake city Community Development, thank you, dignity health, the San Francisco foundation, just recently the Betty Ferguson foundation, and Tipping Point communities. We cant do this work without all of those partners, and that we have been able to over the last two years deploy 100 million to enable the preservation and construction of 417 permanently affordable deals permanently affordable units. A very complicated transaction, but like this one at the barcelona apartment projects that are way too important to walk away from. To keep it critical, we are working with the mayor to raise 50 million more in philanthropic and mission aligned capital so when Nonprofit Developers like tndc and the city need a trusted partner for the comp looks project like this, we can continue to stand at the ready. Thank you. [applause] think, rebecca. Thank you, mayor, for your partnership. I want to close with a few observations about why this is so important to tndc and to our community and the tenderloin. The tenderloin, like so much of San Francisco, is gentrifying, and there has been a longstanding fear dating back to the seventies that the tenderloin would someday not to be affordable to people with low incomes. When we buy a property like 270 turk street, one of the things that is really important about it is the fact that it is no longer owned by a forprofit. I want to break that down a little bit in terms of the way rent control works in San Francisco. Of course, under rent control, rent can only go up so much for an existing tenant, however, when a tenant voluntarily vacates, not is displaced, voluntarily vacates, that units rent can float up to market. That means that the next occupant will be higher income household. One can see that when one looks at the rent roll of barcelona apartments, and 80 or so people who live here, the people who moved in recently are paying a lot more rent than the people who moved in ten or 15 or 20 years ago. The key for us is that, number one, tndc can consider we consider ourselves forever owners, so we intend to own this property in perpetuity, and when somebody moves out voluntarily, we wont raise the rent to market. We will essentially freeze the rents and the incomes of the People Living here now for future occupants for generations so over time, this will become more and more and more Affordable Housing. It is a key part of the strategy of the tenderloin housing clinic , the tndc, and a lot of groups here to keep the tenderloin affordable for a group of people with low income. With that, we have a unit open on the seventh floor and i want to welcome people to go open go up to see it. I dont know if you want to take questions, mayor, or if anyone wants to comment. No. Okay. Thank you so much. I really appreciate your being here. Thank you for joining us, mayor. [applause] my name is kamal lane, and ive lived in San Francisco for 30 lets say 31 years. I lived there a year february 29, 2017, my grandmas birthday. The thing thats cured my home is the Mayors Office. When my number was called, i was excited because my number was number three. To rent a home in San Francisco means that im able to be with my family to support me, me to support them. Then, the opportunity for my daughter to get a good paying job. My favorite thing of my new home in hunters view is the view of the bay bridge, oakland, and a piece of the golden gate. Its peaceful and quiet, and they have a lot of activities for families. They have art class, where you can paint, they have trips, where they take the children. We went to a black art museum, we went to a jazz festival, we went ice skating. Theres a lot they have a lot of activities up here, and thats one thing that i really love about it, i love my bedroom. Its peaceful, its quiet, where i can think, play, and just have my quiet time. I love my bedroom. This is my home because this is where i live. Me and my children, we love in here, we just being with my grand kids and loving somewhere and having somewhere is home. We love being together, and your heart wherever your heart is, that makes it home for you. San francisco and oakland are challenging each other in a battle for the bay. Two cities. One bay. San francisco versus oakland. Are you ready to get in on the action . Im london breed. And i am oakland mayor libby schaff. Who will have the cleanest city . We will protect our bay by making our neighborhoods shine. Join us on september 21st as a battle for the bay. Which city has more volunteer spirit . Which city can clean more neighborhoods . The city with the most volunteers wins. Signup to be a bay protector and a neighborhood cleaner. Go to battle fofofofofofofofofoo