to my right is supervisor jane kim, the committee vice-chair and to my left is supervisor david chiu. sfgtv staff who are recording today s meeting are jessie larson and nona markonian. thank you to sfgtv. ms. miller, are are there any announcements? please make sure cell phones and electronic devices are. completed cards [speaker not understood]. items acted upon today will be on the march 19th board of supervisors agenda unless otherwise stated. thank you. madam clerk, will you please call item number 1? item number 1 is an ordinance approving exceptions to requirements of the seismic safety loan program under the administrative code and the sslp program regulations, regarding a $2,379,464 loan for an existing affordable housing project at the hotel isabel located at 1091 mission street. thank you. and supervisor kim is the author of this legislation. thank you, chair wiener. this is basically we are asking for an exception to our seismic safety loan program d
supervisors agenda unless otherwise stated. thank you. madam clerk, will you please call item number 1? item number 1 is an ordinance approving exceptions to requirements of the seismic safety loan program under the administrative code and the sslp program regulations, regarding a $2,379,464 loan for an existing affordable housing project at the hotel isabel located at 1091 mission street. thank you. and supervisor kim is the author of this legislation. thank you, chair wiener. this is basically we are asking for an exception to our seismic safety loan program deferred extended loan program. hotelies isabel is one of our affordable housing units here in district 6 on the south of market. currently has 72 units affordable housing and it s owned by the hotel [speaker not understood] a limited partnership with who is general partner is todd koh who is here today and we re just ready to ask for an exemption from the loan to value ratio requirement and other underwriti
articulated what my concerns is that we have a housing affordability supply crisis in san francisco. one of those elements is investment in affordable housing to make sure that we are providing that important category of housing, but there are other aspects of well and as much it would be great that we had enough government resources to make that the sole solution. realistically we re never going to be there. there is simply not enough public money for us to be able to invest the that level. so my concern with this legislation was that as a dashboard, to show the planning commission the status of affordable housing for every single project coming before the commission was as if you had a dashboard that had the odometer on it and nothing else. if you have a dashboard it should give a complete picture of our housing situation. how many efficiencies, studios? one-bedroom? two-bedrooms we re producing, et cetera and to have that complete picture for the planning commission as it
our laws by signing long-term leases of residential apartments for planned occupancies of less than 30 days and also strengthens the enforcement process by creating an administrative hearing for the department of building inspection to evaluate complaints and also by giving residents the ability of seeking legal recourse through the assistance of non-profit organizations. thank you for your support of this legislation and thank the advocates for tenants, the san francisco tenants union, the affordable housing alliance, community house right committee and i want to take a moment to acknowledge the good suggestion of an administrative review process by the coalition better housing and thank my aide amy chen for her work over the months. i want to take a quick moment to mention on a separate track i have been convening stakeholders, including air b & b and other internet companies to address the challenges associated with residents rest renting out their apartments while they ar