Transcripts For SFGTV Aging And Adult Services Commission 20240712

Unified parcel tax or city college parcel tax. With the School District there is a Program Available for seniors to be exempted from paying that tax if you live in the property or if you own that property. It depends which ballot measure it is. We encourage seniors to reach out to make sure you apply if you are eligible. That can save you Something Like 2 to 300 annually if not more. That is meaningful for many individuals. I think that is it in terms of property taxes, how it would work in terms of covid19 and savings available. Individuals over 54 and people have asked if i am over 54 and want to keep the tax basis and consider moving out of San Francisco, what are the criteria . Shannon, this is a property tax question for me. I will share it quickly. This is a question about can i transfer protected base value to another county. There are two programs available. First is an intercounty program. People living in San Francisco. It is called prop 60. The way that would work is essentially if you own a property in San Francisco right now and you meet the age criteria, you are 55 years old or above, and you decide you want to switch out your property to another one within San Francisco, you can potentially keep that prop 13 assessed value and take it with you to the new property. There are a couple of conditions required. I mentioned eligibility. You have to be 55 years and older, a property within San Francisco, replacement property. The new home and old home must have been the principal residence. The home you lived in and the replacement front you will live in. The new omahas to be purchased the new omahas to be home will have to be purchased. Then finally the market price of the new omahas to be lower or the same value. As the market value of the home you are replacing. There is some criteria associated with it that you would need to know about. There is another program that is available for individuals. That program is called proposition 90. This is something whereas the question had asked. If i move out of San Francisco do i have the same benefit Program Available . Under prop 90 if you are moving to a county that is actually okay with receiving that property tax prop 13 value, you are able to transfer from San Francisco to another county. Not every single county is a recipient of prop 13 values. There are 13 or so counties that do take that property 13 value from other counties to their county. We encourage you to go to the state california board of equalization website to look at which counties are participating. Alternatively if you know you are going to move to a different county, whether it is riverside or different one, you can call that county assessor and ask whether they receive prop 13 transfers from other jurisdictions. The same Program Conditions apply. It would just be required that the receiving county has that Program Available. I think holly has pulled up the counties that are participating. You can see alameda, los angeles, riverside, these are the different counties that do receive prop 13 based year transfers from other jurisdictions. This is on the website. We will put a link up so people have that as well. Shannon. Is cash out refinance appropriate during the pandemic time . How best should i receive a good interest loan . Thank you. It depends. Every situation is unique. It depends how much time you have left working. What your ability to repay would be, your duty to remember in taking cash out of your home you will have to pay that back and have a new loan to incorporate that higher principal balance. This is a tool to help you access your home equity to be able to get by financially through these financially trying times. That is one of the wonderful things about Home Ownership, the ability to leverage the equity and pull it out when you need it. One thing i will say is that a cash out refinance will typically have a higher level of scrutiny from a lender perspective than doing a rate and term refinance. A rate and term would be where you do fought pull money out but could get a lower payment by refinancing because you now have a better loan to value ratio or because you have a better Interest Rate. If you have purchased your home with a 5 Interest Rate right now, certainly there can be opportunity to potentially get a lower rate, and qualify for even cash out on a payment that is equal two or lower to what you are currently paying. In that situation, it could be very appropriate to recapture that equity and utilize it to help you out financially. In terms of the best Interest Rate. First have good rea credit. That is the number one fact for that lenders use to determine the Interest Rate. One of the things to view with the housing counselors we can pull your credit before you apply to review what is the information that is on the credit report. You would be surprised how many people have errors. Things not reported accurately and that can be easily removed to give you that bump in your credit record that is necessary. There may be things that the housing counselor can advise how to increase your score. When you shop with the lender and talk to did lenders you will get the benefit of the higher credit score. The other thing is that it is really important to talk to a bunch of different lenders. Who is a good lender . I want to talk to a good bank. This is not as much about good and bad banks but which have the programs and Services Targeted to the situation most like yours. There are banks that are going to be far morleneient for better for selfemployment or lower Credit Scores whereas other banks might have different requirements around that. You will see a surprising disparity. The other thing of value in talking to multiple lenders. We recommend at least three. The reason is because that first lender you talk to, you are understanding what is going on. The market changes all of the time, loan requirements change all of the time. You are getting a basis of what is going on. It is really hard to contextua contextualize and understand that until you have something to compare to. Second lender now you are comparing second lender to the first one. In your mind you cant help but link them as good or bad according to this information you have received. The magic happens with the third lender. Now you can know you are getting a representative perspective on a variety of options and having the information and the learning curve that you have gone through to get to that point will empower you to be more solid in your decision and really understand some of the differences between the requirements that different lenders will have. Annie has jumped on. She is about to tell me we have to go to q and a p. I want to adjust one more question to shannon we received ahead of time because it is relevant. There are people who have talked about having helok payments or home equity line of credit. They lost jobs to make the payment. People want to understand if there is opportunities to refinance to fixed rate to take advantage of lower Interest Rates at this moment. The other question related to that is there is conversation that some people had around should they take out an equity loan if they didnt have one already or should they take into account a reverse mortgage loan, those kinds of things . What should people know about the different products and options for folks on refinancing . There are a lot of lenders eager to refinance due to the lower Interest Rates that we have been seeing in recent history as compared to even five or six years ago when Interest Rates were significantly higher. There will be costs associated with refinance. Couple of thousand of Closing Costs and those can be rolled into the loan so you dont pay them upfront but they are added to the principal balance. Again, with the refinancing, shop around, talk to a wide variety, at least three different Banking Institutions to get a good perspective on what good means. It depends upon your situation. One thing i will say that we do sometimes see where people get in trouble with reverse mortgages. That is because they look at reverse mortgages as an alternative to a home equity loan. Maybe what they might need is the ability to refinance and take cash out or the ability to take an equity loan and access that equity, but then because they dont have the income to qualify or for other reasons they will derm instead to get a reverse mortgage. That is a very different loan product than a home equity loan. If you are in that situation where you are considering refinancing, particularly if you are considering taking out reverse mortgage. We want to encourage you to set up that free counseling appointment and sit down and discuss that with a housing counselor so make sure you understand what the loan product itself is going to require of you, what happens at the end of that term and to determine what is going to be the best product. There may be things you can do to help adjust some of the problems that might prevent somebody from being able to refinance or take out an equity line of credit to prevent them from having to get a reverse mortgage. We want you to explore those options before takin taking takn and signing paperwork on the line that might affect what happens to the property at the end of the term. Lightning round of questions. There are so many questions we only have five minutes of q and a. I apologize. We will get to you individually afterwards to answer the questions as best we can. A question here. 7 0yearold living in San Francisco to use prop 60 or 690p 90. If you have a current property from San Francisco and meet the eligibility for prop 60, we would likely transfer the property 13 value so you would benefit from the lower value. If you plan to use the property as rental then you are no longer eligible. You have to use the home you are living in and replacement has to be primary. There are eligibility requirements to benefit from that transfer. Do i need to pay transfer tax if i add my sister to my house title or remove her from the title. This is great. I will ask adrian to answer that specific question. Can you repeat . Do i need to pay transfer tax to add my sister or remove her from the house title . Transfer tax depends. I think all transfers you have to pay transfer tax. Is it a gift . You would be exempt. We would have to look at the ownership how you add your sister to the title. In general all transfers are change in ownership. We would have to look at the specific situation. Let me color that. A few things. Adrian is with transactions division. She talks to whether or not a transaction is considered reassessable to market value. When people add names to a deed it is adding a new owner to a property. I think that is something people need to be thinking about. There are certain conditions in which transfer taxes would not apply. We will put a link to the transfer tax website because you can see specifically what are some of those instances when transfer tax would not apply. You have to fill out an affidavit affirming and promising you are telling the truth that is the way the transaction is happening. That is important for people to know. Often times people put names on titles to qualify for refinancing. We get that question a lot when i put a name for refinancing does that trigger reassessment . We will take a look to say after a period of time would that name remove or has it stayed on . Those are the things we would consider in looking at to see whether a true ownership change happened or if it was for refinancing purposes. There is a difference. We would encourage you if you have specific questions to let us know. Just remember if you are putting names on titles, the way we see it without knowing anything else about the transition it looks like there is a new owner on the property. Remember that may trigger reassessment. Look at that closely. Thank you. We are just about running out of time. I would like to ask you for Closing Remarks for viewers. I wish we had more questions. We will promise to get back to the questions on the chat and try to get you links. I want to thank shannon for all of your help throughout the years in terms of joining us on the forum and providing good information not only with us but with the community. We know we depend on you when we see notices of foreclosures. We send that to you to reach out to folks. We appreciate you and your organization to help san franciscans. I am sad we dont have more time for q a. I could do that all day. I love hearing peoples questions. I see my Contact Information is here. Definitely reach out. We are happy to talk offline and really have that opportunity to go deeper to the individual situations people are dealing with. Really just develop a plan that is right for you for wherever you are at and whatever is going on. I thank you thank you for puttis together. On behalf of the team you have worked so hard at this. It is really important to get the word out there and really help people to engage with the difficulties that are happening for you right now. That is really the only way to work it. Sitting and being scared and doing nothing and feeling alone is no way to live. I personally have been through that situation myself. Reach out, get the help you need. I want to encourage people to utilize Resources Available. There is a lot more that i think people realize that is available in terms of resources within the city and through our nonprofit housing providers. We are happy to help connect people not only to members but to the broader coalition of partners we work with. That is a fantastic way to close this. No matter where you are in your financial situation, please dont feel embarrassed by where you are, dont feel ashamed in terms of feeling alone and there is no help out there. There is. I want people to know that. It is a difficult time that people are in right now. Dont feel embarrassed or ashamed to refer out for help. That is why Home Ownership sf exists to help to make sure we help you get on your feet. Thank you again, shannon. Thank you so much for such an informative session. We are going to take a five minute break before the last session. I want to remind folks to look at the poll at the bottom of your screen and we encourage feedback in terms of the session today. We will resume in a couple of minutes. We are honored to support you and your families during this time. Before i invite our leader for the last session. I would like to go over a few housekeeping continues again. We are committed to serving all population we are offering spanish and chinese interpretations. Please select the language channel at the bottom of the screen. There is also q a function at the bottom of the screen. At any point you have questions type it in and we will respond as much as we can during the webinair. If we run out of time we will reach out afterwards. I will ask vivian to explain so participants can get settled in their channel. Vivian. Thank you. Mario, can you explain in language for the channel. Thank you so much. May i ask our bold leader carmen chu to join us for the third session. Estate planning and ownership transfers. Thank you very much, annie. I like how every time we enter a new session there is a new description for me. I appreciate her trying to life venup the transition. I am excited you are joining us for the new station or have continued with us through the forum this morning. As i mentioned earlier, especially with covid19 we know how posh it is to how important it is to provide as much credible Financial Information as possible. We talked earlier about personal finance continues and we shared about Resources Available to homeowners abfamilies, and now we are really excited to kickoff the last part of the session around Estate Planning and planning for the future. I want to introduce our guest. I want to say how important this is especially now. I think it is often hard to think about planning for the future in a situation where we wont be there. When we pass away or loved ones pass away it is not an easy topic to talk about. It puts us at peace of mind and is protection for loved ones. It helps to make sure when they are going through grieving and a very difficult time your wishes they understand well and there are no you can present a lot of arguments that might happen what people think you wanted when you pass away. I know it is uncomfortable conversation but one of the ultimate acts of love to plan and help put at ease what your family will have to go through or loved ones will go through. I hope people will learn a lot from kendra today. We are in the middle of an active Global Health pandemic and health is more and more important than ever. Kendra is joining us from staff attorney from the housing and economic rights advocates. It is the inauguration organization from the beginning when we started the Family Wealth forum and great contributor with great information every time. Before we get to the questions i want to read the quick bioabout kendra so you know who we are joined with on this program. As a San Mateo County native, we will forgive you. Kendra obtained great satisfaction using the law to assist bay area residents and homeowners to avoid time consuming costly and disruptive probate processes. She graduated from Hastings College of law and uc davis and guides residents through Estate Planning in a fun way. Her positive approach ensures each client with the right decision. While performing thousands of estate plans she worked through every possible family and estate situation including her own journey with two deceased parents. Most clients comment this process is much less of a chore than they thought and they are happy to work with kendra the get affairs in order. Ken address has great energy and i am excited to have you on. Welcome, kendra. First question. People want to know what does Estate Planning involve . Can you give us broad overview what that looks like . Absolutely and thank you for the warm welcome. Estate planning involves a host of issues many of us face or at least families face. It involves what we want to happen one day when we pass away or when ourselves and spouse pass away. Equally important is what happens when we are alive but permanently or temporarily incapacitated. That is why we started this. We were hoping to save peoples homes but if they were to become incapacitated we didnt have anyone to deal with issues, assessors, irs, anything like that. It is two different topics and scenarios and legal documents to take care of it. I will break it down to the two larger topics to prompt thinking about this. We begin with th the scenario. You are in an accident. You are in the hospital for five or six weeks. A lot of things will arise. If you are a renter your rent will be unpaid. If you are about to file taxes and didnt get back to sign the final tax return that would be undone, lets say you just needed someone to pay your bills but you and your spouse were in the hospital. With certain legal documents you can put someone in place to handle those tasks so when you recover and get back to normal life things are as they should be. Rent paid, mortgage paid, financial issues. On the flip side of that, once again you and your spouse are in the hospital and you were not able to communicate yourself to convey what you want for yourself and perhaps what you dont want for yourself. If yo you are in dire medical situation, you need someone there to advocate for you with those medical professionals to make sure your wishes are implemented rather than someone else imposing their wishes on what you think is right or not right for yourself and your body. Certain legal documents we can while we are feeling good and when we dont need it indicate someone to take over so that takes place. So our desires are communicated to medical professionals and we are from control what happens to us. That is the part of Estate Planning that when we are alive but if we are incapacitated and we are not able to handle financial or medical issues. People only think of Estate Planning what happens when we pass away and what happens to our stuff when we pass away. The second part is that when we pass away what do we want to have happen to our stuffer . Where do we want our estate to go . What do we want that to look like. When we feel good is when we plan to plan for transfer on death deeds, putting will or trust together and we will discuss this shortly, through those tools we are able to make sure our assets passion with the least amount of chaos, expense and maintain harmony within our families to make sure that does take place. There are legal documents to handle that situation. Absolutely. Just to reemphasize as kendra mentioned. Estate plans is more than saying what do we want to happen to the things i own after i pass away . It is about how it is that you want affairs to be taken care of financial or health if you are not able to communicate. If people get in an accident, you are unconscious those things that do happen in life. How is it that you are going to have your bills continue to get paid, how are you going to be able to have medical decisions be made for you especially if you are not able to make those yourself. It is much more broad than what happens if you should pass but also what can i be doing to prepare now for a situation where i cant speak for myself or make those decisions on my own. I really appreciate you bringing that up. That is especially important right now in the middle of the health pandemic. Maybe we can jump into the point you were making earlier the difference between a trust or will. I think people say, lets talk about th the leaving assets. People are done it. Trust and people say which one should i do. Tell us about the differences. Absolutely. Those legal documents to do property at death. A will is appropriate for people if their estate is under 150,000. If your assets are over 150,000 and you cannot put beneficiaries on those assets even if you had a will unfortunately there is a probate process in california which is expensive, public, your executor needs to public things in the payer. Pay paper. It is unnecessary if you take steps to avoid that probate. Both documents leave certain assets. You can put beneficiaries. On retirement accounts, Life Insurance, certain types of other financial accounts. You can put a beneficiary or two beneficiaries on that asset. When you pass away, a death certificate will be presented and that asset will be presented to the living people. On the transfer on death deed. If you put beneficiaries down when the death certificate is presented that property could be distributed and avoid the probate process that we have here. If people have businesses that are worth a lot of money. The Business Plan can handle that but if that business is worth over 150,000 a trust would be warranted. If somebody is not going to prepare a transfer on death deed and not satisfied with the limited options available there then if you own a piece of property in california you certainly own an assets worth over 150,000, a trust is in order. Keep in mind by gross value the court does not care about leans against the property. In california you own something over 150,000 so a trust may be warranted in that case. Can i clarify for a moment. The threshold is 150,000 for probate. Does that exclude situations where a beneficiary designation is possible . For example i have savings account worth 10,000 but i have a home worth 1 million. If on the home i was able to file for something called transfer on death deed that can avoid probate, would the 150,000 apply to that 10,000 remaining or is it cumulative . That is correct. It would only apply to the assets which you have no beneficiary. If you did take the active step of placing the beneficiary on the account there would be a mini probate. It is assets. It could be expensive cars or when someone has not taken the steps to do transfer on death deed. Another instance if people put one beneficiary on an asset, lets say significant retirement account or Life Insurance policy and that beneficiary is no longer living. It is a good time to revisit your beneficiary designations on retirement, Life Insurance and any accounts on which you place beneficiary. We hope you will do so now to make sure that makes sense in your life and make sure you have a second choice. Just for recap. If i hear it correctly what i understand is that there are certain weighs in which people are able to pass on assets without having to go through probate. One through a trust you can create to do so and that would avoid going through probate. Second is if the law allows for certain Financial Assets accounts designate beneficiaries through the institution and those instances sort of like as you mentioned retirement accounts, savings or checking account, those are able to buy pass probate s so long as you designate the beneficiary with the institution. What you are saying if there are anything outside of those state allowed ways to bypass probate in terms of Beneficiary Information if the assets exceed 150,000 you have to go through probate and hire an attorney to go through it. Wills wont absolve you having to go through probate if you have more than 150,000 essentially, is that right . That is correct, yes. With respect to beneficiaries as long as the beneficiary indicated on the account is stillal live and can be the recipient. That is true. The will has to go through the probate process if it is going to distribute 150,000 or more in assets. Kendra, can you speak about the difference between revocable andi irRevocable Trusts. 99 are revocable. If it is used to create this structure, it can be the jones family trust. After that is created we help you put assets into it. Typically it is an account and a home, piece of Real Property. You are free to change that trust at any time because there is language to allow you or in the case of a married couple to change beneficiaries, trustees, you can add things to the trust. You are putting assets into the trust. That is revocable. You have control ever everything. You are accountable to no one. You can sell or spend it or do what you want with the assets in that trust. Once in a while we doir reckaftrust. You can not change. You do not own the assets once you sign the assets over to that trust. It is 11 million. Sometimes people want to take things out of the taxables state and we doir Revocable Trusts. Most of the times you want control of the assets and you want to change beneficiaries or successive trustees. You would have Revocable Trust. That is why when you put Real Property into that Revocable Trust there is no reassessments because the county views you as the primary trustee, trusttor, you own that asset. It is a different way to hold title. Absolutely. That gets to one of the questions we get often where we will be looking at in terms of the Assessors Office who owned the property prior to something going into a trust. Then who are the owners. If they are the same, i think it is important to recognize that we are understanding that there are differences in how people are holding it. So long as the owne ownership ht changed it doesnt trigger reassessment. Sometimes people are hesitant they feel like they are giving up control. It is theirs. They are the only people who can change beneficiary designations. They can sell it and the money is theirs. They are accountable to no one other than themselves. Next question where someone had written in how much Estate Planning can i do on my own . Are there online trust documents vailing lid in the state of california . I will answer part of that and i hope kendra can add to this. I think as we were speaking about earlier, what you decide to do trust or filling out Beneficiary Information does depend on your financial situation and what you own and how complicated it is. I think trust they do come at a cost if you do it. It is more expensive. If you do have a complex scenario and own a lot of property or something more complicated you might want to consider going down a path of trust because you can also benefit from getting legal advice, Financial Accounting and advice associated with it. That is something to consider. For people who have a really simple situation where maybe they just own a bank account and that is all they have under 150,000. They know who they want to give it to, maybe a trust or will is not necessary. It is just something you want the think through what your desires are. In the scenario where i have a 10,000 bank account. I want to make sure my daughter receives it when i should pass. Since it is under the 150,000 limit and i have nothing else i could go the bank and ask to fill out a Beneficiary Information designating my daughter would receive it. After i pass so long as the death certificate is provided she will get that 10,000. That doesnt create a trust to do that. If you own just a home and that is all you have, there is something that the state law has created called a transfer on death deed. This is new. California passed this in 2016. It allows people to record a simple document with the recorder in your county that says who you would like your property to pass on to should you pass. Transfer on death deed. We are going to include that ling on the chat to have access to the information. Generally the way it works for Small Properties one to four residential units, condos or Single Family homes. Generally the beneficiaries are coowners in equal shares. If you want something complicated and want someone 1 and another to have 10. 5, this may not be the avenue for you to go. This is a scenario. I have one house, one daughter, i want her to have it all. Designate that and get it recorded at the county Recorders Office to apply it. Like a Revocable Trust you can change your mind with t on. D. This is something that is important to know. Lets say you want to designate to give it to your daughter, you have a falling out or perhaps make something happened and you want to give your property to someone else. You need to remember to either file a new transfer on death deed so the most recent one filed is going to take precise dense. You can also file other documents to cancel it to record what is a revocation form saying i cancel that previous tod and or if you sell that property it essentially takes precise dense over that because you no longer own that property. for folks who may not be aware when you do kind of inactive a trust you may be designating someone who is going to the desires of that trust or what is specified. Many times people end up asking someone they trust, family or relatives to do it. They may also ask a professional to do it. Can you talk a little about that. absolutely. In a will or a trust or frankly a power of attorney, youre going to indicate a first point person that youve taking the time to pay sm you can choose someone within your circle. It could be a Family Member or a child. It could be a friend. But i think its very wise to be honest about the strengths and weaknesses of the people you are considering. You know, the person indicated either on a power of attorney as an executive of a will or trustee needs to be good with details and finances. Typically those people have gone through some education as how to act as a fiduciary for individuals. I would talk to three and see how you get along with them and assess their experience as having work as a professional fiduciary. For some people they want their banks to ak a act as a fid fidu. Some will act as a power of attorney and some will not do so. Banks will typically charge between two and 5 of what they are dealing with. Make sure to get their Fee Structure if you are thinking of using the bank. Fiduciaries are a little less than a bank. If you name a friend or Family Member, you may want them to have a fee or may not want them to have a fee. Thats up to you. I think in a nut shell its very important to really assess the strengths and weaknesses if youre thinking of using a Family Member. A Health Care Agent if you happen to have a nurse in your family, thats a great choice. I think its also wise to have someone who is kind of objective so when they read your health care objective, they will implement what they want for yourself. They boant bthey wont be imposr wishes upon you. Things are taking place in the manner that you wish. i think in particular on advanced Health Care Directives how you want the process to go. Its often a good time to talk to the person who you want to execute that portion about what your desires are. Because i think sometimes its helpful for people because you know, when people have to make a decision about your Health Outcomes whether, i think its often a very weighty thing to put on someone. And because of that, i think its really important to have Clear Communications and really have a conversation with people before the time comes so they really know that you meant what you said and they really have a clear idea of it. Because i think, you know, especially because its such an emotional thing, its often a very hard topic. Ive heard that advice as well. thats very good advice, absolutely. Its enough of a burden at that stage when they are feeling depressed and vulnerable. If they are absolutely sure what you put on your Health Care Directive is what you want it makes them feel strong in a medical setting. there was a question where someone asked if there was anything they should be aware of when transferring property to Family Members. Whether it mattered or not if the transfer happened before or after death and what were the Tax Implications one way or another. Thats a big question. Im going to try to answer a bill part of it and maybe you can followup with some of the Tax Implications as well. this is something that i really want to make sure we spend time on here. I have heard from a number of different people who come to my office on a couple of occasions. Weve heard from a lot of Family Members that say, im go to go transfer my property to make sure they dont get reassessed. I want them to not have a very high property tax burden as a result of it. I just want people to know that in terms of an exclusion, there is currently an exclusion where are you able to pass on your property and savings to a child if you fill out a form. Thats something for people to know. There are restrictions associated with it but i just want you to know that it doesnt matter if you actually transfer it when you are alive or if it happens after your death. If your primary home is pass frg you to your child, that entire amount is protected with your prop 13 value if you fill the parent to child exclusion. That works both ways. The parent can pass it to the children or the children can pass it to the parent as well. Theres a Program Available if your child predecreases you a grandparent can pass on the prop 13 from their primary residence to their grand children. Thats is not reversible. In both of those instances it doesnt really matter whether its happening before or after someone passes away. I wanted to spend a little time on this because weve heard weve had some seniors come in and said i did this where i passed on and legally gave my property to my child because i wanted to help them with this tax issue sm now they are kicking me out of the home. I thought they were going to keep me in the home and i would have a place to live. Now im in this bad situation. I want people to be aware if what youre hoping to avoid is this rei reis reassessment. As long as the laws dont change. Its true if you pass away after or before. What protections do you have for the assets. When you own the home you have complete control on how you want to use that asset. Whether you pass it or sell it. Once you pass it on, they own that property and can do whatever they want with it. I want to put that out there for folks so you do know that. I wonder if you want to add to any of this in terms of taxation impacts. yes. In the same vain associated to another reason to not transfer title to children while youre alive and would want to control the rest of your life would beas a lawyer, i need to present this. Lets say you even put your child on as a joint tenant. Lets say that child purchases the minimum Auto Insurance policy and gets into a wreck where the damages are more than the limits of that policy. If the Insurance Company or the defend in a case like that wanted to come against your childs personal assets, your home would be subject to that claim. Lets your child and you put your child on a deed either solely or with you gets a divorce, even though that was separate property because you gifted it to that child, youre going to have to spend money and have some very stressful months if not years where theyre going to discuss if that really truly was separate property and not Community Property in that divorce. Theres really not a good reason to put your child on a deed prematurely. The second big reason as far as taxes go, if something is conveyed as death rather than during life, you get the market value as of the date of death when they are determining any Capital Gains thereafter if its bought or sold. You dont get that benefit while child is alive. If the transfer occurs at death, the basis of that property is the fair market value at death. That could be a heumg difference in what you would potentially pay. thats actually a really great point. Clarification. Lets say someone wants to transfer the property while they are still alive to say their child. Is the basis for Capital Gains the price at which they purchase the property or is it at the transfer point . it would beif they transfer the property to the child, it would be at the time ofthey inherent the basis of parent at that point. Yes, the parent may have done some Capital Improvements that may increase that base number, it could be a huge difference than having the position of having the fair market value at death. Parents sometimes own homes for forty years thats a huge difns in the badifference in the bay. if the person who ends up inherenting the property decides they want to sell that property at some point in time, you would be subject to Capital Gains tax. Basically they are saying what is the gain that you made on this particular property and were going to tax you a serp portion. Icertainportion. If you are seeing a transfer occur during a lifetime, the basis in which they are calculating that profit essentially and youre going to be taxed on is based on what your parent actually bought that house for. If it gets transferred upon a death, lets say it happened in january 2020 for example, what happen ss is under the federal w they reset that basis, that differential in which they are going to calculate on the data transfer. If it happened to be a Million Dollars at that time, they reset it to a Million Dollars for the base ace. Basis. If you sell it the next day for a Million Dollars. Theres no gap, you wouldnt pay much in terms of federal gains taxes. Thats what she is getting at as far as resetting the Capital Gains if you were to sell the property at a future point. Did i describe that correct . Ly . you did. great. The next question that we have from folks has to do with making sure that their children inherent as little debt as possible when they die. Are there some tips and thoughts about how people can put things in order so that does happen . essentially unless your child signed something individually assuming your debt. That child would not have personal liability on death of a parent when that parent passes. If the child is executory or trustee of a trust and there are deaths of the estate of the person who passed away, the first duty of that individual is to pay off the debts of the eft kate beforestate before making y distribution. That child will not be personally libel for the death of a parent unless they sign something themselves obligating them to pay that debt. got it. Thats good to know. The other question that came in was putting their property into trust. To quickly recap, if i put my property into trust do i incur a reassessment. How do i keep my Property Ownership anonymous. If i own a property with my husband and we create a trust and continue to the own the property the same way, typically that would not trigger a reassessment because there was no change in ownership. The ratio disont chang doesnt e people dont change. Are they the same people who are oafning it anowning it and are t in the same proportion. How to keep your Property Ownership a non mouse. Onownership a anonymous. The recorder function is an entity that maintains all public records when it comes to deeds and sales and purchases of property. Thats really important because if we didnt have a credible source of information about all ownership information, you couldnt sell or verify that anyone owned anything. Its important that we have a clear chain of ownership. So when someone sells something they have the legal right to sell that thing to you. Can i keep my ownership anonymous, unfortunately those records are public records. When Title Companies do transactions for a home transaction, they typically are looking up records in our office to make sure that chain of ownership is right and clean. There are times when people try to put property into legal entities and others, just know that that information is also potentially searchable in a state database. I think ultimately ownership information is supposed to be public records acceptable. People can find that information out. Just information for folks to be aware of. She popped back on thats our queue that the question and answer session is going to start soon. Im going to just end in it terms of our presubmitting questions to kendra. Where can i find help to set up in the state plan quickly. okay. Several other things we discussed today can be done rather quickly. If you have accounts, if you have retirement ats, if you hate insurance. Designation forms, review that. If it doesnt have a contingent beneficiary, add one. You can also hold down a Health Care Directive from your medical establishment. You can indicate preferences there and have it notarized. That can be done relatively quickly too. A transfer on death also can be properly executed and filed. Doing a will or a trust may take a little more time. Typically a couple of weeks. Our office does them in that time line. Its usually two to three weeks or so to meet with people, now of course, its virtual to prepare drafts and adequately review and get around it signing them with our notary and witnesses. Some of them you can do on your own. With a lawyer its going to take two to three weeks. just for folks to know she is a nonprofit providing these services. We want to let people know they have help out there especially from our nonprofit partners. Im go to go turn it over to you. we have so many questions coming in. We have a question from cony. Two Single Person bought a house with 45 and 55 separately. After being married for two years they did not change the title. Now the husband wants to change his 45 to his wife. Will that change the property tax . sharing of ownership information between married couple r. In that situation we wouldnt expect a reassessment. they can own their property together as Community Property within that marital trust, there are some benefits to married couples in owning property as Community Property in a marital trust. Essentially if they own property as Community Property and one of them passes away. If they property is sold even though both of them havent passed, that surviving spouse will dpet the full basis. Thats a unique thing for people who own properties as Community Property. thats something that isim glad you brought that up. I think if youre like me, when you first bought a home you were not paying attention to all of these legal documents, nor did you know what they really were. One thing i suggest you take a look at for properties because its a big part of what we own. Take a look at your deed and how it is that you have recorded holding title. Youre going to see on that line theres actually very specific legal language that speaks to how people are owning things. What is the reeght o right of survivorship afterwards. We own the property as Community Property. Kind of speaking to what she is saying rk th, the designation oe deed is how we own the property. If i purchase the property with my partner, wasnt my husband yet. We own the property together. We may have opened it as tenants in common. We each have a real proportionate share and may have no rights to survivorship. That may say i own my 50 share and he opens his 50 share. Unless i designated it somehow with a tod or if i had put up a trust or will or something that strig nateed it wouldesignated. Who is in the chain of inheritance for me. Im designated in my deed that were owning separate portions of it. He doesnt have a right to receive my portion if i pass away. I recommend because i think especially when we first buy property its such a blur you dont Pay Attention to the language in your deed. You may want to pull that document up and see what it says. It speaks to not only how you are owning it but what happens in terms of survivorship and where that property passes passs afterwards. i would say thats for people who purchase property prior to about 2000 or so a lot of people were taking title as joint tenants with their spouse. Without the writership and being Community Property, i believe that if one of them passed and then it was thereafter sold, they would only get the basis on that 50 rarymg than the 100 . Its very important to pull out those old deeds. I see deeds indicating all kiefneds okinds. Thats a great tip. right. we have one last question. Well get back to the rest of you after the webinar. The last question istheres so many to choose from. Should we put a trust name or actual beneficiary, for example, a child on the beneficiary form. on a retirement account or Life Insurance . its not specified. okay. Can you read that again . should we put a trust name or actual beneficiary for example children on a beneficiary form . you can put someone down as a primary beneficiary. If the child is a responsible adult you could put that child down as a beneficiary. I dont know how old this persons child is. If the child is younger, you have to think about if you just put someones name down on a beneficiary form that person would attain that asset at age 18. You can think about being 18 and you came into a large sum of money that may not be a good thing for us. If you have younger children and they arent financially responsible yet, you can put a trust down and certain restrictions. For instance, that money would only be for health, education, support, or maintenance until that person is thirty years old or 25 years old. That person would have Living Expenses and attend school but would not receive the check book until age 25 or 30. You want those assets to be controlled. i think thats a great point to wrap up with which is again, i think each one of the different tools that weve talked about today whether its a will, trust, descrig natein da beneficiary. What are your wishes . How things are . The intended beneficialary is five years old, you may want to think about how you want to set that up. Theres more flexibility in terms of designating condition nz which that person is cared for until they are of the age that you think they should inhaisht or receivinherit. I hope you begin thinking about these questions. Im sure theres resources to help you get through some of those questions and pros he is s we move forward. in discussing children because i didnt have time to get into that. People with Young Children, children under the age of 18, they should probably prepare at least a will if they own a home, they can prepare a trust as well. In those documents, you would typically designate who you want to be the guardian of your children should you pass away. This avoids chaos between well intentioned Family Members. Its be best to make that very clear because the court gives deaf randeference to that choic. it drives home the point when we talk aboutest at about e planning, its about love. How do i take care of the people who survive me and make sure they are set up in a good way, they dont assume burdens or things without clear understanding with about where you want things to go. Especially for Young Children as well making sure that, you know, who you think are the best guardians and folks who take care of them are actually going to be the ones who can. I think thats really important. Thank you for spending time with us and all the panelists who joined us. Our translator for making sure that everything is accessible to our participants. We hope that you learned a lot. Thank you so much for joining us. thank you, everyone. thank you, so much. I just want to remind folks were going to put up the poll one more time to you can give us feedback for our first dij cal famildigitalforum. We hope that you stay well and enjoy the rest of your weekend. Bye bye. Enjoy the rest of your weekend. Youre watching coping with covid19. Todays special guest is assessor carmen chu. Hi, im chris mannis and youre watching coping with covid19. And today my guest is carmen chu, the assessor for the city of San Francisco and was cochairing the Economic Recovery Task force. Shes here to talk how about how the task force is guiding the city through the Covid Recovery and reopening. Welcome to the show. Thank you very much, chris, for having me. We begin by talking about the creation of the economic recovery tack force and its purpose and role. Absolutely. So i think about our cities with that very first month of covid and the truth is that everything moved so quickly. And i can still remember when i was at the press conference that announced our state of emergency and not only that but very soon after we were in a shelterinplace scenario where many of us had never imagined that wed ever see in our lifetime, much less having to deal with a global pandemic. During that time there was a lot going on in peoples minds about how concerned and worried that meant for themselves and their families, but almost immediately i think that the city also began to feel what the Economic Impacts were of shelterinplace and business closure. Remember at the time that all but essential businesses were open so very quickly we saw a lot of businesses who were, frankly, worried about whether they could even come back and open at some point in time or how theyd make it through and we saw quickly a sharp amount of job loss that happened in the city as well. So we knew pretty soon thereafter that we needed to start doing a lot of work to plan ahead for what economic recovery would look like. So there, alongside with the president of the board, norman yee, had a task force to try to get a number of people together to be thinking about what is it that the city can be doing now to start planning for our economic recovery, to have it successful for the midterm but also for the long term Going Forward. So we have a group of people who are just amazing, people who are contributing to our communities. So weve had large and Small Businesses. Businesses from a crosssection of Different Industries and services, from different neighborhoods. We had academia who are part of this task force as well as different foundations and Profit Service providers who are all part of the ecosystem that makes San Francisco special. So the task force is really meaning to pull together the thinking about how the city could help us to facilitate going back to a reopening scenario, but how to have different scenarios and policies to ensure that we can be successful during an interim period as long for the long term. Great. Now weve all heard about the Economic Impacts of the covid19 had across the country. Can you tell us about the experiences in San Francisco . I mean, i would say that just listening to the businesses and to the individuals and residents. Its been very dire. You can imagine for a business that has been open for quite some time, you know, and they are still continuing to have to other things but meanwhile they had absolutely no income for most businesses that are closed to help to offset that. Many of these businesses have taken loans out that they have actually secured with their own assets, like their home. They have secured it, you know, they cant repay loans, they have to potentially sell or do something with the other personal guarantees they have. Locally here in San Francisco we have also i tried to respond with the local programs that we thank would be helpful. Everything from the deferral of business taxes and business licenses, and the grants to support businesses and Different Community groups to support workers and so on, to try to help to transition. But that being said, its been significant hardships for individuals, as well as the business side or those unemployed or people who are not seeing that wealth in the sector. The particular areas that the task force are focusing on, can you talk about them specifically . Yeah, yeah. At some point we think about the larger economy. And its a wide and a big economy. We have so much entrepreneurship and different types of activities and things that we do. And also its really important parts of our economy that make San Francisco special, our arts and our culture, all of these things help to contribute to the vibrancy that i think is San Francisco. When we think of economic recovery, its broad and its also something that is going to be very different from sector to sector. So i think this is truly something that we keep in mind is that ultimately the ones that we are able to open, with the Economic Activity that is really tied to how we individually take responsibility to be sure that we keep safe. And so the way that were thinking about economic recovery is about, you know, how to make an interim period short of having a vaccine or a Health Breakthrough for an economy that is resilient. Theres a strong recognition that even before covid19 hit that the economy wasnt doing great for everyone, right . A lot of people were left behind, frankly, from the last economic cycle. We were not just faring very well. And so one of the things that were thinking about is how do we think about San Francisco with the emergency sectors and how to create more equity, how do we create more opportunities for all of our communities to be able to thrive Going Forward. So we really are intentional about wanting to think about policies that help to develop San Francisco better actually than the way that things were before. Some of the areas that we think that we want to put our efforts around are a few areas. So we want to see for jobs and businesses. We definitely to want to think about Economic Development and how it is that we allow for the right kind of growth in our economy. We want to make sure that were focusing on our vulnerable communities. So truly thinking about, you know, who has been most impacted, who you do we make sure that when we think about the investments for the future that that economy includes those individuals and communities as well. And finally we also want to think very intentionally about how we support the arts, hospitality, culture and entertainment. This is a big part of San Francisco. People come from all around the world to visit our beautiful city because they recognize not only the natural landscape is beautiful but also the vibrance and the warmth of our communities and the culture that were able to share here and the food that we can provide and the festivals and concerts, all of these things that makes San Francisco so special. And at the same time these are exactly the types of things that are probably not going to come back very quickly. And as we begin to reopen, what is the Task Force Helping for local businesses and employment . We really want to make sure that the ontheground experiences that businesses have and the common sense kind of things that they may be able to do, are able to be incorporated with our Public Health officials. Aside from that were working very hard to try to find just the solutions that allows the businesses to be able to populate more flexibly. So you have probably heard that the city is opening up outside dining and not only that but we have created and launched the shared spaces program. This really allows for the businesses to be able to utilize either the curbside space, the street space potentially and the sidewalk space, and allow a path of travel for their businesses. Yeah. And letting businesses use outside spaces is a great idea, especially since we learned that being outdoors is safer. So what is next after reopening . What are the lessons that we have learned and how can we create a better economic environment in the city . Yeah, i think is such a huge question because i think that all of us are very much thinking about social equity and i think that theres a lot of opportunity for us to be thinking about doing it better and more inclusive and create more opportunities for our communities who have been left behind. In particular for our black community in San Francisco. We know that this is something that we want to focus on and we want to make sure that were actually creating a better system Going Forward. Oh, i totally agree. So, finally, if somebody or a Small Business is interested in learning more about the Economic Recovery Task force, where would they be able to find Additional Information . Well, im glad that you said that. We definitely have heard from we have heard from so many people across the city. So first off i want to thank all of those toke folks who have reo us. But the place you want to go is our website at onesanfrancisco onesanfrancisco covid19recover y, that is a website with our information, including our meeting agendas and our minutes, a video reporting as well so they can keep uptodate. And theres an email and a survey that you can fill out there and you can see it. Thats great information and i really appreciate you coming on the show. And thank you for the time you have given me today. Thank you, chris. I really appreciate it. Stay safe. You too. Thats it for this episode and well be back with more pandemicrelated information shortly. You can been watching can the coping with ko covid19 for sfgovtv. Thank you for watching. Good morning everyone. Welcome to the july 20, 2020, meeting. With me is vice chair stefani and gordon mar. Our clerk today is victor young and i would like to thank sfgov for staffing this meeting. Mr. Clerk, do you have any announcements. Yes, to protect board members, City Employees and the public, the board of supervisors and Committee Room are closed. However, members will be participating in the meeting remotely. Committee members will attend the meeting through Video Conference and participate in the meeting to the same extent as if they were physically present. Public comment will be available on each item on the agenda, both channel 26 and sfgov. Org are streaming the number across the screen. You can call in via phone, calling 4156550001. The meeting id is 146 308 2077. Then press pound and pound again. When connected you will hear the meeting discussion, but you will be muted and in listening mode only. When your item of interest comes up, press star three to be added to the speaker line. Call from a quiet location, speak clearly and slowly and turn down your television or video. You may submit Public Comment by emailing it to myself. If it will be forwarded to the supervisors and be part of the official file. That concludes my comments. Thank you very much. Can you please call item number 1. Yes, an ordinance to amend the police code to require employers to provide Public Health emergency leave during a Public Health emergency. Thank you, supervisor mar, do you have any comment . Thank you so much chair ronen. Colleagues, we prepared this measure because we believe its imperative that as we contend with our current Public Health emergency we prepare to provide policy intervention in the future. This would codify it into law permanently. This was created earlier this year that is currently in effect and it offers two additional week of fully paid leave to over 200,000 san franciscans to take care of themselves or a loved one. It would be triggered under a Public Health emergency situation. However, its clear that we will be living with the current Public Health crisis for many months, perhaps a year or longer, and with some version of the current public order for most of it, if not all of the time. As such, i decided its a better policy approach to continue to reenact the existing emergency order providing Public Health Emergency League and to file this ballot measure. We introduced the second ordinance for the emergency ordinance and will continue to reenact it Going Forward for the duration of the emergency order. This will give us more time to consider and legislate this policy for future emergencies while maintaining the crucial benefit the the duration of the current emergency. This crisis has made it clear. We need to consider and enact new riot protections and benefits for working people and im committed to doing that work. I dont think this Initiative Ordinance needs to move forward right now to do that so i intend to file it today. Thank you so much. Is there any questions or comments before we open up this item for Public Comment . Seeing none, mr. Clerk, can we please open this item for Public Comment. Yes. Public comment will be available on each item oh, sorry, wrong note. Members of the public who want to comment on this item should call, the meeting id is 1463082077, then press pound and pound again. If you havent done so, press star 3 to line up to speak. A system prompt would indicate that you raised your hand. Please wait until the system indicates you have been unmuted and then you can proceed with your comment. Do we have anyone for Public Comment at this time . Would you happen to have any callers at this time . It does appear there is one caller and he may be having some issues. Hold on one moment. Im sorry about that, is it unmuted now . Sorry about this, is this agenda item number two . No, were on agenda item number one still. Oh, okay, my apologies. Im going to withhold until item number two. Okay, thank you. Are there any other callers on the line . No more callers. There are no more callers on the line madam chair. Okay, thank you. Supervisor mar, you already made the motion, correct . Can we have a roll call on that motion . Just to confirm, the motion is to recommend this item to the full board sorry, i was unclear. Would you mind repeating the motion, i didnt catch it. Yes, i would move that we file this item. Yes, the motion is to table and file this matter. On that motion, supervisor stefani. Aye. Supervisor mar. Aye. Chair ronen. Aye. This matter is tabled. Thank you, can you please read item number two. Item number two is a motion ordering an ordinance to be submitted to the voters at an election to be held on november 3, 2020, authorizing the city and county of San Francisco to own, develop, construct, acquire, and rehabilitate up to 10,000 affordable rental units in the city under article xxxiv of the california constitution. Good morning supervisor ronen and supervisor mar and stefani and chair ronen. I want to first off thank you chair ronen for your early cosponsor ship of this measure and your leadership on housing issues and support for the broader package of reforms that this is part of and i also want to thank supervisors haney, walton, and mandelman who are also early cosponsors of this measure. Colleagues, before the committee today is an ordinance and initiative that we are putting before, intend to put before the voters this november that would authorize the creation of up to 10,000 units of Municipal Housing. As i mentioned, its one piece of a broader package of legislative reforms put forth by my office, which tends to tax wealthy Real Estate Investors in order to pay for covid related rent relief, as well as longterm social housing. This measure before you is relevant to the social housing components. It will allow San Francisco to expand its ability to pursue, if we so choose, Municipal Housing programs in addition to and to complement the proven nonprofit Affordable Housing strategies that are currently underway and have been for some time in our city. To understand the context of this ballot measure, we have to roll back the clock and start and look at what occurred 70 years ago. In 1950, segregation is backed by the California Realtors Association passed a statewide ballot measure with just 50. 8 of the vote to create article xxxiv of the california constitution. Article xxxiv requires that any Public Housing or private low Income Housing be approved at the ballot before even a single unit can be bought or built. It is simply put, a racist relic of the red lining era. In effect, this allowed for municipalities in california to keep out low income tenants and people of color, especially African American tenants, further segregation on race and class line. There is no law and i think its important to note the distinction. There is no law requiring anyone to go to the ballot every time they want to create high rent counts. Its just low rent housing thats discriminated against. This was and remains a racist approach to stopping Affordable Housing and specifically to stopping government owned housing. I believe article xxxiv should be, and in fact must be repealed at the state level. While a Broad Coalition has supported such efforts, including the entire San Francisco state delegation, they have not seen success to date. In fact, article xxxiv repeal bill offered by senator scott and senator of santa monica is not moving forward for this novembers ballot. We cannot sit by and wait indefinitely for this law to be repealed. Im proposing with this ballot measure that San Francisco lead the way with a powerful statement that we are in effect standing up locally against the structures that have upheld housing injustice for decades. The measure seeks to authorize 10,000 units of municipally owned social housing, where the city buys up land or constructs new housing that is equitable, affordable, and sustainable. To be clear, it does not compel the city to pursue this model. Instead, it clears the way for Municipal Housing, without requiring voter approval for each Municipal Housing proposal. This is crucial as we map out the social housing plan and strategy. We cannot have that conversation with one type of housing, Municipal Housing off the table because of an arbitrary state law. I want to acknowledge that government run housing in our country and in our city has a very mixed record. On the one hand, Public Housing has created housing stability for many who would otherwise be shut out from the Housing Market completely. The poor conditions of many Public Housing sites are wellknown with devastating impact to the health and wellbeing of residents. What is hard to know colleagues is how Public Housing would have faired in our city and in our country had it not faced decades of bipartisan, racist, disinvestment. As a failure of our broader Housing Market has become more apparent, there is a movement to Municipal Housing as an approach, looking boldly to the future to complement Affordable Housing models. When we look around the world and what has worked, when we look to other cities for guidance, to other countries, we see models have succeeded when funded in other nations. Hong kong, singapore, barcelona. In vienna, tenants spend no more than 20 to 25 of their income on rent and have permanent housing stability. In austria, the average household spends only 21 of their income on rent. Viennas program is growing at 10,000 units per year, including 4,000 of those units over five years. So just like these other jurisdictions, we can get this right, but i think we all recognize that it wont be easy, that our country assault on Public Housing has been linked to and driven by racism. As with so many aspects of Structural Racism in this country, African American who have been harmed disproportionately, the failure to maintain Public Housing and expand Municipal Housing opportunities and the failure to protect residents from unfair eviction all contribute to income disparities and displacement of so many African Americans from San Francisco and other expenses urban centers. Its undeniable that these factors are a major cause of the displacement of the African American population of San Francisco. To reverse that, i believe we need a bold social housing policy and Municipal Housing is just one part of that. Im asking for your support of this simple ballot measure to give the city the authority under article xxxiv to pursue a Pilot Program for Municipal Housing which would otherwise be banned under article xxxiv. We know colleagues that without federal and state investment, were not going to be able to scale up to meet our Affordable Housing needs, but that doesnt mean we can wait to address affordability and the crisis in our city. Were going to raise hundreds of millions of dollars for social housing, as i described last week when discussing our transfer tax ballot measure and i really, truly believe that this is the time to think big and plan for the future. I want to say it wouldnt be the first time that San Francisco has risen to that type of challenge. I mean we look back to 1909 when San Francisco created one of the first municipal transit systems in the nation, muni. United railroads treated workers poorly and today we can reflect on how expansive muni has become and how critical it is to support muni through the challenges of the covid pandemic. Likewise, think of how far we could go if we fund a vision from municipally run social housing which is deeply affordable and benefit low income communities. Thats what this ballot measure is about, getting the approval we need to work around a racist and classist law, so we can create a more equitable housing system. It does not lock us into doing Municipal Housing on day one but instead it allows Municipal Housing to be one of the tools we have to address housing affordable and stability in San Francisco. So thank you for your time. I look forward to any questions and the Public Comment and to urge you all to support this measure. Thank you. Supervisor peskin, i want to thank you so much for your leadership on this. This is exactly the type of change that we need in San Francisco and order to stabilize communities that have been displaced in alarming numbers over the years that also to allow people to come back who have been displaced. Thank you so much for all your leadership and work on this. Are there any other questions or comments . Chair ronen, i have my name on the roster. Oh sorry, supervisor stefani. Thank you chair ronen and supervisor preston for putting this proposal forward. Im pleased to support the item before us today. I also want to take this opportunity to also recognize senator scotts work on the issue and to express my hope that we can work to repeal article xxxiv all together in the near future. As you know in december of 2018, the senators introduced the amendment to our state constitution sca1 which would have repealed article xxxiv if approved in this years election. Last year in september, the state Senate Passed sca1 unanimously but the assembly failed to vote on the measure by deadline. We know as you el el locately mentioned that it has kept people of color out of the state of california. During this time of crisis, we need to make sure people have affordable places to live and to create stable union jobs, including in construction and related professions. I want to thank you again supervisor preston for putting this forward and i hope the legislature will soon visit the senators proposal to eliminate this stain on californias constitution. Thank you, i look forward to supporting this today. Thank you, supervisor mar. Thank you chair ronen. I also want to thank supervisor preston for his leadership on this issue of bringing this item forward. I wanted to acknowledge all the housing advocates in our city that have been working on this for many years. So, im happy to support it. I would actually like to be added as a cosponsor, and i do agree that we need to deal with repealing article xxxiv in a statewide level. I thank the senator for his leadership on that and on a local level, we need to look at all options to address our Housing Affordability crisis and think outside the box. So i think looking at Municipal Housing strategies, you know, its very important right now. Even in my district, in district four, they had the least amount of investment in Affordable Housing, we have had a small Public Housing project out of the great highway for decades where several townhouse units that blend in well. Its supported by the neighborhood and has been the only Affordable Housing in the sunset district for decades until the time were moving forward finally. Thank you so much supervisor preston for your leadership on this. Thank you so much, were going to open this item up for Public Comment. Every member of the public will have 2 minutes to speak. Yes, members of the public who wish to provide Public Comment on this item should call 4156550001, meeting id is 1463082077. Then press pound and pound again. If you havent done so, press star 3 to line up to speak. The system prompt will indicate that you raised your hand. Please wait until the system indicates you have been unmute and you may begin your comment. Mr. Co, do you have any speakers on the line . Yes, there are currently 25 callers in the queue. I will start the first caller. Good morning supervisors, i live in district four. Im calling in support of the proposed ordinance to create social housing. We had an Affordable Housing crisis for decades, even more so now with the pandemic threatening many with evictions. We need to make sure everyone has the housing they need. This ordinance will overcome a racist barrier with the support of issing degree segregationist. San francisco will lay the ground for a Housing Program that will address our homeless crisis. Please recommend this ordinance to the full board so we can move forward guaranteeing Affordable Housing for all. Thank you. Thank you. Can we have the next caller please. Hello, i live in district 7 and work in a school. My parents came here to San Francisco in the 60s to find housing when it was difficult or even impossible for them to find housing as an interracial couple. Despite the racist and classist history of San Francisco, San Francisco has been the progressive leader in comparison to many municipalities and we need to continue this tradition to make sure that housing is a human right for all as residents. Give us the opportunity to display our better nature and potentially ensure that the future of success is one that we recognize housing is a human right for all residents and provide Affordable Housing for all. Thank you. Thank you. Can we have the next caller please. Hi there, my name is brad. Im in the Democratic Club and i want to thank you for putting this forward and my very good friend who passed away recently, who was a champion on Affordable Housing and rent control and all of that will be so proud to hear what all of the supervisors have spoken today have said. I am almost brought to tears hearing all of this. The main thing i wanted to say was harry would be honored by a lot of things, but he didnt care as much about monuments or things like that. What he would care about is for me and the members of the club in San Francisco that we are in some way fighting for things like this and not just mourning his death, but doing something about making San Francisco a place for everybody to live. Im just so proud of all of you and to be a san franciscan right now and how youre addressing this crisis. Thank you so much. Thank you, can we have the next speaker . Good morning supervisors, my name is rebecca and i live in district four. I am a member of the San Francisco and i am calling in support of this proposed ordinance to create social housing. We had an Affordable Housing crisis for decades. We need to make sure everyone has the housing they need. This will overcome a racist barri barrier. It was designed to exclude people of color, including black tennants. It would lay the ground for a Housing Program. It will address our homelessness crisis. As of right now, there are more likely 10,000 homeless San Franciscos on san franciscans on our street. We need to provide housing service, which is why the coalition for homelessness [indiscernible low volume] thank you. Thank you, can we have the next caller please . Good morning supervisors and i live in San Francisco, in district eight. Many of you may recognize me by some of the calls we had on this measure. Im calling to support it as well obviously since ive been helping out with this effort. I just want to say, you know, ive been living in San Francisco for over a decade. Ive been in the bay area my whole life. Every year i think about how expensive housing is and i think it cant get worse and then the next year it does. So we really need to attack this problem and solve it in a bold way because the piecemeal efforts weve been doing over the years has not been enough. As supervisor preston said, we seen the cratering of san franciscan s that are black because of it. We need to bring a strong Municipal Housing program to San Francisco and i think this is the first step and i look forward to working with you all on those next steps after voters approve it in november. Thanks again for your support supervisors and i look forward to the next step. Thanks so much. Thank you, can we have the next caller . Good morning supervisors, my name is todd snider, im a resident of district five. I want to echo all the previous callers to authorize the city to create social housing. I really want to press the point that our unhoused brothers and sisters on the street, the vast majority of whom actually had housing in the city before becoming homeless. So with the pandemic and the crisis of affordability in our city, we the voters demand a voice in this and social housing is the way to go. I urge all supervisors to move this ordinance forward to the full board so we can guarantee Affordable Housing for all. Thank you, i yield my time. Thank you, can we have the next speaker please . Hi, good morning supervisors, my name is ann wily. I live in district four. I work in San Francisco in a hospital. Im calling in support of the ordinance thats before us now. I just want to highlight that this ordinance is antiracist and this ordinance is addressing our current pandemic environment. I also appreciated the mention earlier that was made of the municipal transit system. I use that everyday to get to work and i cant imagine my life in a city without it. So yes, absolutely support this social housing measure and yeah, again i just want to highlight that as other people have mentioned, most people on the street had housing before this happened and with the pandemic that could only get worse. I absolutely support this measure to stop gentrification or at least slow its spread. Then also i wanted to highlight how racist the original article xxxiv was, passed in 1960 to keep out low Income Housing. I think that in San Francisco, it sounds like everybody, at least on this call believe we can do better and i do too. Thanks for supporting this and i support it as well. Thank you, can we have the speaker please . Good morning supervisors, thank you preston for bringing this forward and ronen for cosponsoring and stefani and mar for all your work as well. I live in San Francisco district seven. My family has represented he here rented here for 15 years. Im calling to overcome this racist barrier and authorize the city to create 10,000 units of social housing. As a young person, i seen increasing costs of housing, which is making it harder and harder to afford to live in the city i grew up in. This is a result of decades of policy that privatized our Public Housing. There is a solution, if we have the political will to act on it, which is social Housing Program, which has proven successful in cities from cities like vienna to hong kong, a lot of these cities have greatly brought down the cost of housing so that its affordable for all. This community can really show leadership by taking steps towards building a Municipal Housing program that will create an infrahave you can dc infrastructure of sustainable housing. Please recommend this to the board for a vote so our city can lead the way for social housing. Thank you. Thank you, can we have the next speaker please . Hi, good morning supervisors. I live in district eight and work in district 10 and i am glad to hear you all are in support of getting this measure, this ordinance passed to get it on the ballot because i, like everyone else who is calling in, really feel that we need a social housing model for this city. Thank you so much for your support. Its good to hear. Thank you, can we have the next caller . [indiscernible low volum [inaudible] hi, this is jordan, district six and for identification purposes i am a former member of the task force. I am very supportive of this amendment to add 10,000 units of social housing. I have been reflecting on my time as a tenant of my ten years on the tax force, where i was the only there. I think we need to go beyond s. R. O. S, and it will allow them to get into a functional, safe, and up to code housing. Im all supporting that it creates opportunities for all and it would even allow people who live among middle income, destigmatize housing. Thank you. My pronouns are she her. Thank you, can we have the next caller . Hi. [inaudible] we are here to support it. [inaudible] also creating necessary jobs, which is really important, as well as equity. You know, in response to the pandemic and the crisis of homelessness, i think thats the important thing about this measure. Its not only responding to the crisis, its creating a permanent solution. Its not only to respond to this Health Crisis but all of the factors. [inaudible] if there are no additional comments speaker . Okay, we can move on to the next speaker. Hello. One second speaker, would you mind turning off your radio or your computer. Were hearing it in the background and its echoing. Im sorry, i cant do that. Ill have to comment again later. Yes, if you speak now, the echo from your computer or radio is repeating and we cant hear you clearly. You can call back in with just your telephone, we can take your comment. There is still time to call in again. Thank you. Thank you. Can we have the next speaker please . Good afternoon supervisors. Im from San Francisco coalition in district eight. Im calling to strongly support this measure. Its about time. Back in the 1950s when 35 of the workforce was in the union, obviously not available to blacks and browns, it was convenient for those fortunate people having good jobs, thanks to the Union Membership to block less fortunate people and be racist to have measures against Affordable Housing. We dont have jobs that are praying living wages. Its time for the government to get involved and provide the much needed housing for those who do not make enough money, although they work hard, to own homes orient homes, particularly in the city of San Francisco, which is a playground for the rich and famous. Its about time and i want to thank supervisor preston and chair ronen as we, as well as supervisors stefani and mar for this measure. We desperately need Affordable Housing, or affordable social housing, and it is about time for us to make this happen. Hopefully this will end up on the ballot and the city of San Francisco will come forward and vote for this because this is the right thing to do. Thank you so much. Thank you. Can we have the next speaker please . Hi, my name is tyler. Im a resident of district six. I want to echo what everyone else is saying and say while i was listening to dean prestons intro, i was thinking housing is a human right. Currently its not treated as a human right but a commodity or even as a luxury and if you cant afford it, too bad, you have to live miles and miles away or just be homeless. Its completely ridiculous thats how it is and i think this measure will be a big step in moving towards making that slogan a reality and making housing something that the city actually provides to people instead of something built, sold, and rented for a profit. Thank you. Thank you. Can we have the next speaker please . Hi, my name is cassandra and i live in district seven. Im calling in support of putting this ordinance on the ballot. I plan to vote for it. Thank you so much for discussing it today. I agree with the other comments by callers that the pandemic shouldnt force out long time residents. I think its important to have a low, middle, and high income families living in the same community. San franciscos benefit is the long standing businesses. I have commuted three hours a day. I hope this ordinance will be passed and Affordable Housing will be created in San Francisco and allows for communities to Stay Together for a long time, without fear of construction of higher income people like myself. Thank you for supporting this. I look forward to seeing it on the ballot in november. Thank you. Thank you, can we have the next caller please . Hi, my name is heidi. I live in district seven in sunny side. I also have a small studio in district 11. Im a mother of four and all my kids have gone to public schools, as well as city college. Im currently in support of the proposed ordinance to authorize the city to create social housing. I really cant think of any reason not to support this ordinance. We seen how aggressively the city has become gentrified. Middle and low income residents have been pushed out. If we want San Francisco to be a place of equity and not just a playground for the rich, we need programs to support social housing. Its the right thing to do. On a personal note, i worry about my young adult childrens ability to remain in San Francisco. My oldest child lives with four other people and spends a third of his income on rent. I am a photographer and i have been working to interview people on the streets in the tenderloin. Its heartbreaking to see how lives are destroyed by not having access to the most basic human need. People living on the streets may get housing and turn their lives around. So many of these folks were born and raised in San Francisco. Lets not let them down. Thanks. Thank you. I just like to state that if you have not already done so, please press star three to be added to the queue to speak. For those on hold, please continue to wait until the system indicates you have been unmuted. We currently have 14 people in line to speak at this time. Can we have the next speaker please . So my name is francisco decosta. My take on this is quite different than what the other speakers said. I think i read the mckinley act. If you read that act, you can find out how racist this city is, including all the board of superviso supervisors. If you done your due diligence, then you will stop coming out with a new type of model and i dont trust scott at all. I never have, never will. Here is what i have to say. It is a shame that thousands of people are living on the streets that once had their own homes, that Public Housing, their own homes but they done nothing. Right now we had 40,000 homes vacant. 80,000 condominiums vacant. What are you talking about . Nonsense. One time the mayor said the city was given an opportunity to take over some of the housing. They refused. Do you think they have the money to come up with this 10,000 affordable rental units at this time . Have you done a Needs Assessment . How many of you have gone to Public Housing and seen how big their rooms are there. Yall are giving permission to the john stewart company, bridge developmenters, mercy housing to make money on the back of poor people. Shame on you supervisors. Thank you, can we have the next caller please. Hello, this is victoria. Im calling in support. I think we all want to live in a city in San Francisco that is diverse and inclusive to people who are low income. We have not seen that for such a long time. San francisco is one of the most gentrified cities in the country. Many black and brown residents were forced to leave because of rising rent and lack of Affordable Housing. We need Affordable Housing to bring people back. By approving this, the board will show leadership in addressing the brute of our affording housing crisis. Thanks to supervisor preston for his leadership on this as we went well as the other supervisor on the committee. Please recommend this. Thank you. Thank you, can we have the next caller please . Hi, i live in d7 and i was reading in the news that private equity firms have more money than they ever did and theyre waiting to pounce on the Real Estate Market to consolidate Housing Stock in the city and i think more people are at risk to lose their housing because of foreclosures and because of evictions because of the pandemic and i believe that this crisis, you know, has triggered, you know, a huge emergency necessity for us to have social housing. I think we desperately need it in our city to avoid any situation that is worse than the crash in 2008 and i think that people in the city deserve housing as a human right, which is why i am in support of this ordinance and i hope it passes. Thank you. Thank you, can we have the next caller please . Hi, thank you for putting this on and supervisor preston for your earlier notes and your opening and thank you to the supervisors that are in support of this. So my name is su, im with the housing rights in San Francisco. I work along with fred. I operate primarily as an advocate and outreach organizer primarily in Public Housing in specific. I wanted to open up with saying that currently right now, this is from our partners, that 30 of all evictions are with black tenants. So this is still something thats a massive displacement problem. For that many evictions to be filed against black tenants in San Francisco has created a problem. I also wanted to highlight ov overcrowding in Public Housing which you have three generations of people that are living this one unit and so thats also another problem. I think that supporting this right here, which h. R. C. Is clearly in support of this and giving thanks to the supervisors, our support of this to get rid of the pattern blackiblac blocking people of color and to create Affordable Housing is really needed. I think this is another step in San Francisco to do good and correcting the wrongs in the past and reversing racist policies. Much love on that. Thank you once again and i yield my time to anyone else who wants to take it. Bye. Thank you, can we have the next caller please . Hi, i am calling in support of social housing in San Francisco. I live in district two of San Francisco and i work in the selma area in San Francisco as well. I personally feel, on a personal level, i fee