Good morning, everyone and welcome to the peoples palace and im here this morning to announce yet another milestone in our citys commitment to raise the minimum wage to 15 an hour by and people will work this fourth of july weekend we are celebrating our countries birthday but recognizing in the celebration throughout the weekend people like the people had that are standing with me are working whether the restaurants or hotels or Health Care Workers and others and and we all feel for working people that is hard in our expensive city to survive unless you have a december sent wage thats why a couple of years ago i destined or joibd the board of supervisors full board of supervisors to place before the voters an 15 an hour minimum wage and people that work in all those industries we did it together and were celebrating because today it goes from 12. 25 an hour to 13 and up to 15 and after that cpi takes over i want to remind everybody this city was brought together with our labor unions and your working families made up of all the exit are represents our city and got this done in a strong collaboration with everyone and showed not only the cities around the bay area but the state of california if we got together and thought about peoples lives what glosses the challenges every day we can get this done for them i think were happy here to see the wages go up are rehappy yeah, well have more to celebrate in addition to, of course, the bitter of our nation and things we enjoy we picked this date it is a significant move and i also want to say that we know that our workforce all those peoples here they are still an affordability gap so this is going to help people he you go that suggest that a lot of people are working two jobs to support their families we want to celebrate those moms were all ushth together to help them but for also myself and mayor libby schaaf of oakland that recognizes our workforce is more regional than ever do more than benefit the residents that work in our city and so we joined. Today and cities that are committed along with cities like new york and seattle and los angeles and portland and the others also raised their minimum wage we want to the state of california to do the same thing because what could happen i think all the labor advocates know and people that we raised our minimum wage just and ourselves in the city of San Francisco or just in oakland we would probably be golden state talent that belongs to where everybody lives and not as affordable to them as it is to those were helping so mayor libby schaaf and along with the united Health Care Workers started a process and emigrate hundreds of thousands of snatches set the minimum wage higher of 15 an hour tour the state of california in uniting all the cities with the labor unions and workforces and people good minded across the region we got the governors attendance and the state of california attendance such that a few months ago governor jerry brown signed the legislation to raise the states entire minimum wage for everyone for 15 an hour over a period of time those movements wouldnt happen unless we place the needs of workingclass families that work hard to build that consensus im here to join in the celebration and here to say that im going to be working this weekend as well as in addition the celebrating but also acknowledge the people that always serve us at the hotels and restaurants and people that are working the janitorial and Building Maintenance and all working class in the city were there to be of help this will be consistent raising the minimum wage to attack affordability challenges is part of solution paid parental leave is part of the solution making sure that we work so that no one is a theft of their wages thats why your head of the department the labor enforcement is joining us with the advocates of people that earn those wages im saying they earn every single penny they deserve to make sure they get it in their hands thats why we announce these and make sure that everybody is prepared adequately ahead of time to make sure those wages are paid and wage theft we have to make sure that our workforce that speaks many languages dont get capture and been take advantage of this is how we really in city year ago we have a benefit and make sure that everybody obtains that benefit i want to say at that moment im proud of the working folks in San Francisco but the intensify region and proud of state of california and your legislation for working with the governor to a raise the minimum wage that adds to the celebration of the fourth of july and makes that more meaningful and then we hope that the entire nation does this as well question hear a lot of stories from a lot of places across the country that the liveability is under challenged or were taking care of business in the city and state and lets go on the National Level and support of the prosperous country to make sure they get a december sent wage wsip think we have paula to speak for her experience and what that means to her paula clapping. good morning. I want to again thank the mayor mayor ed lee for being the vera person that was instrumental in making in milestone occur and happen my name is paula im a home care worker and worked in the city there are challenges with the rising cost of rental rates and even though im covered by rent control im still monthly yearly challenged and with different increases that i have incurred in the last few months and years this new legacy life act 15 minimum wage will surely ongoingly help me through my endeavors thank you. clapping. good morning. Im naomi kelly the city administrator i should tell you that paula was ininstrumental in working with m and mayor schaaf she helped to organize snatches for the measure. Thank you paula for all your hard work i want to introduce antonio a Health Care Worker an organizing member of unit health care woeft west and worked to race erase the minimum wage and allowing home care workers to apply for overflow room he speeded there was something wrong with his mother it was alzheimers i want to introduce juan antonio. clapping. buenas dias. speaking foreign language. so good morning. Thank you for inviting me to prestige events for people i feel blessed. speaking foreign language. my name is juan antonio and in 2015 specifically he which is a Health Care Worker for my mom. speaking foreign language. i just want to be very clear even San Francisco home care workers work very hard we do that because the standards of living inform San Francisco was very high we work very hard to meet those needs. speaking foreign language. so the job was basically like this door by door house by hours snatch by snatch people refused to sign this will make that worse we said no join hands and Work Together and talk to the leaders theyll help us there was a Great Success this doesnt he said here the initial is very important we need to keep on working so the situation gets better for all of us. speaking foreign language. you cant say that as good but thank you to everybody especially mayor ed lee during that time when the Campaign Began until today to fight for this measure to come through we want to thank them from every member in the United Health care west and give them this im not sure what you call that laughter . Well, thank you. speaking foreign language. ed lee. This is especially made for you ed lee our mayor thank you. Okay. This is a beautiful portrait up next, we have the director of Office Standards and enforcements mr. Pat mulligan working with these men and women in the Office Enforcement who are here behind us in the audience and ones that are the advocates of minimum wage paid sick leave and parental leave and Health Care Accountability act not only fierce advocates by our enforcement and making sure that our businesses and contractors with the city, our all of people are getting a fair wage and benefits so my honor to introduce pat mulligan. clapping. thank you, naomi it is the mission of Office Standards and enforcement to provide enforcements of all local labor laws and approximate protection for all workers and an honor to serve those who support of aggressive and Labor Protections in the United States and do through the hard work of all the staff there the office of labor improvement id like to remind the employers indicating the increased minimum wage throughout San Francisco id like to add that is also particularly fitting we are celebrating this announced of an increase in minimum wage throughout San Francisco as we lead into the fourth of july depicts day weekends for many workers and modest increase or any increase in their earns represents real and a very well defined dependence have a great weekend thank you. clapping. and okay. And this ended our press conference i have to say the growth and strength of our local economy will prosper so speaking foreign language. shop and dine in the 49 promotes local biz and challenges the san franciscans to do their shop and dine in the 49 within the by supporting the services we help San Francisco remain unique and successful and vibrant so where will you shop and dine in the 49 San Francisco owes itch of the charm to the many neighborhoods people coma greet and meet it has an personality these neighborhoods are economic engine seeing the changes is a big deal to me especially being a San Francisco native and it is important to support the local businesses but also a lot to over here it is nice not to have to go downtown i think that is very important 0 for us to circulate our dollars the community before we bring them outside of the community for the time we have one dollars in the community is the better off we are it is about Economic Empowerment by apron ingress the businesses that are here. Shopping local cuts down the cyber foot youll find cookies and being transported the world where everything is manufactured and put on the Assembly Line having something local is meaning more the more we support our local businesses the more i can walk down to where i need to be. Bridges contingency bye like west portal it is about city and San Francisco may have a big name but a small city and a lot of small communities shop and dine in the 49 highlighted that and reminded people come outburst and i love that about this city ill always be a good afternoon everybody. Welcome to the San Francisco board of supervisors budget and finance Committee Meeting for wednesday june 29, 2016. My name is mark farrell. I am chairing the committee and joined by the vice chair katy tang and supervisor wiener and thank the clerk and staff from sfgtv for covering the meeting today. With that madam clerk do we have any announcements . Yes mr. Chair. Please silence all cell phones and complete speaker cards and documents to be part of the file should be submitted to the clerk. Items acted upon today will be on the july 12 board of supervisors agenda unless otherwise stated. Okay. Madam clerk will you call item 1 and two together. Item 1 resolution determining and declaring that the Public Interest and necessity demand the acqusition improvement and accountability and conversion of at risk multiunit residential buildings to permanent Affordable Housing and performing need the seismic, fire, health, and safety upgrades and other major accountability for habitability to be financed through bonded indebtedness in the amount not to exceed 350 million and item two is ordinance callng and providing for a special election to be held in the for proposition a. Thank you madam clerk. Y we know have speakers from supervisor peskins office and Controller Office and well so supervisor peskins office. Thank you supervisor farrell and supervisors. Thank you for your consideration of this item today and apologize that supervisor peskin could be here for the discussion this morning so i wanted to givea brief overview and context of the bond measure itself and the repurposing and we have some amendments that we would appreciate someone moving today. I understand that supervisor kim was prepared to move them and when she joins us hopefully we can do that so almost 25 years ago voters approved a 350 million bond measure aws theoried by supervisor tom shay which provided loan tiewntsd for seismic strengthening and retroactive mace ron ree buildings citywide. 200 million ion was approved and 156 of the funds repain. Supervisor peskins intent has been to expend the uses for the market rate tranche to include the acquisition and improvement and accountability of at risk multiunit residential buildings and properties and allow nonprofit Affordable Housing housing developer to convert them to permanent Affordable Housing through the acquisition and program. And scope would be expanded to include fire, safety and electrical plumbing upgrades and allow are if the preservation of at risk housing. These opportunities exist in neighborhoods where the city has experienced a disproportionate loss of housing and toin toin and knob hill and mission and other areas and a fire displaced many families. We of course, with a group of nonprofit Housing Developers and staff to determine how the expanded loan program would be useful for the short and longterm preservation of at risk stock in San Francisco. Feedback from stakeholders for the program that made the program less usable brought forward amendments that supervisor peskin is introducing today. The original unb bonds loan program had modest praifz of the out of of the 156 million set aside 105 million remains. We are prose position amendments that would increase the capacity of the program and widen the base of potential users. This program would be allocated at Interest Rates equal to 1 3 of the citys true interest cost of the bond series and segment for deferred loans program would continue to be issued at 1 beyond the citys true Interest Rate for the amendments for your consideration are intended to expand the uses of both funds within the overall umb program. In the first draft of the bond measure weed included a couple standard bond and transparency provisions that voters are accustomed to seeing but not included in the original 92 bond measure. I want to thank stakeholders and staff that hustled to put together a creative and usable and effective tool for the housing being do stock and all of our staff and all of who are available here for questions so thank you for your consideration and i will distribute copies of these amendments to you today. Okay. Thank you. Supervisor tang. Thank you. Thank you very much for this presentation and i am really glad to hear that there has been efforts to repurpose this original go bond measure. I know that as was mentioned in the intro remarks that there has been less of an uptake on the market rate Program Given we charge 1 extra for the Interest Rate. Theres also 1. 5 additional bond origin eagz fee to cover mo hcd costs and i think this is a great intent but i want to make even for the market rate program there is the interest to use this, and so i dont know if you could further elaborate on some of the conversations youve had and what some of the ideas might be and the Interest Rate a loan and the origination fee are a deterrent. So might be a question for jamie to address as well but with conversations with the Mayors Office of housing and oewd it sounds like the market rate program would be able to be utilized for housing projects or infrastructure, accountability. I know there was a project pier 70 that the Mayors Office was able to use market rate funds so the anticipation is my understanding from oewd is that they will be seeking to put together a short list of projects that these funds could be used for. Okay. But the additional Interest Rates would still apply compared to taking out a loan from a private bank . Thats correct. Okay. Thats correct. Okay. Well, okay i look forward i guess to see this progress and whether it will be taken advantage of so thank you. Thank you supervisor. Colleagues any further questions . Okay. In we have the Mayors Office of housing. Did you want to present on this item i understand . Good afternoon kate hartley from the Mayors Office of housing. We support this ballot measure and the Seismic Safety Program with respect in respect to the Affordable Housing component and offers an Interest Rate which is a third of the cost to the city so for us its fantastic. Weve had Great Success over the last year with the small [inaudible] program and see the low interest low cost funding as something that will allow us to continue on to expand the program and to bring even more resources. Last year we closed on 54 units on the Small Sites Program and have another 58 in contract and another 70 on deck in the under writing process so theres actually a lot of activity and with t