Transcripts For SFGTV Government Access Programming 20240714

[gavel] good morning. The meeting will come to order. This is september 4, 2019, regular meeting of the budgets and finance committee. I am sandra lee fewer, chair of the budget and finance committee. Im joined by supervisors Katherine Stefani and rafael manldsleman is on his way. Id like to thank Samuel Williams and Carmen Cooley from sfgov tv for broadcasting this. Do you have any announcements . Yes. Make sure to silence your devices and include documents as part of the file should be submitted to the clerk. Items acted upon today will appear on the september 10 board of supervisors agenda, unless otherwise stated. Thank you very much. Id like to make an announcement that we will be having a short recess at 11 00 a. M. And until about 11 20 a. M. This morning. Madame clerk, can you please call item number one . Yes. Item number one, retroactively authorizing the Police Department to accept and expand an inkind gift of 768 units of naloxone, estimated at 57,000 through the naloxone distribution project, which is funded by the Substance Abuse and Mental Health Services Administration for the term of february 1, 2019 through may 30, 2019. Thank you very much. I believe we have patrick lee young, chief Financial Officer for the San Francisco Police Department. Good morning. Earlier this year, we applied to receive 758 units of naloxone through the naloxone distribution project. It is a project that is administered by the California Department of health care services. The program excuse me. The 768 units of naloxone is valued at 57600. Naloxone is an and eke used to try to help individuals recover from an opiat overdose. In 2018, d. P. H. Reported that 89 deaths occurred and in 2017, 36 deaths occurred related to fentanyl. Fentanyl is 100 times more potent than morphine and 50 times more potent than heroin. With the naloxone unit that the department has received, we intend to distribute to all of our district stations and our specialized units and this includes officers that are assigned to the healthy streets operation center. Excuse me. Doi want to share some of this information. I apologize. I just i didnt think of printing it out until this morning. This is a wonderful program. This project is eligible to first responders, to emergency medical services, Law Enforcement agencies, schools, hospitals, any agency that is eligible to apply for this project should certainly apply. It is a fast and easy process and lit help stabilize. Thank you. Colleagues, any questions or comments . Seeing none, there is no report. Well open it up to Public Comment. Any members of the public would like to comment on item number one. Seeing no Public Comment, Public Comment is now closed. Wed like to make a motion to move this to the board with a positive recommendation. We can take that without exemption. Madame clerk, item number two. Item number two, ordinance retroactively waiving the banner fees under the public works code for up to 300en baers placed on cityowned poles by Somma Philippi nas beginning september 24, 2018 to celebrate the culture and visibility of the filipino Cultural Heritage district. Hello. We have abigail rivermonte. Good afternoon. Thank you for your consideration. Today for your consideration is waiving a banner use for up to 300 banners placed on cityowned poles by Somma Philippi nas for an indefinite nit period beginning september 24, 2018 to celebrate the culture and visibility of the filipino Cultural Heritage district. As this committee is well aware, in 2018, soma philippinas was officially recognized by the San Franciscos philippi na Cultural Heritage district. Under the leadership of the philippina American Development foundation. The philippi na population has been cut in half over the last 10 years and the formation of the cultural district was a Proactive Initiative effort to protect the community, preserve the filipino culture, heritage and the cultural assets. Soma is a place of made possible because of the communitys struggle and resilience to make a home where to make a home here along with the leadership of women, workers, artists, youth and seniors. Soma filipnas embraces the spirit of collective determination to honor and make history, build community and progress forward. We have some amendments to the resolution that i passed out the madame clerk. The two amendments that we are proposing this morning is that the waiver become indefinite nit and that soma pilipinas be allowed to design the banners throughout the duration theyre set up. That is highlighted for the committee on page two. Lines nine and 10. Thats the first amendment. And on page one, it also notes in the main caption that it would be for an indefinite period. Having the banners up year round is a consistent reminder of that. And that is why were pushing forward for these amendments, voting in favor of this resolution reaffirms our citys commitment to cultural districts and importance that place making has in a diverse neighborhood in other words to preserve the culture of a Community Members who are marginalized and often left on the sidelines. Thank you very much. Any questions from my colleagues . Seeing none, there is no report on this. Lets open this up for Public Comment. Any members of the public would like to comment on item two . Seeing none, Public Comment is now closed. Id like to make a motion to move this to the board with a recommendation. Would you like to amend the resolution . Yes. I make a motion to approve the amendments. Take that without objection. And then id like to move this to the board with a positive recommendation as amended. Thank you very much. Madame clerk, can you call item number three . Item number three, resolution authorizing the execution and delivery of a multifamily housing revenue note in one or more series in an aggregate Principal Amount not to exceed 23. 5 million for the purpose of providing financing for the construction of a 55unit multifamily rental Housing Project known as bernal gateway apartments. Thank you. We have Christina Munn from ohcd. Hi. Good morning, supervisors. My name is Christina Mun of the Mayors Office of Community Development. Im here to present upon item number three to fund the rehabilitation of bernal gateway, an existing 55unit Affordable Housing apartment complex located at 3101 Mission Street and 141 and 143percida avenue in the Bernal Heights neighborhooding. The transactions fundamentals have not changed since we friend it for resolution to this committee in july 2018. The issuance is still a conduit financing with no recourse to the citys general fund. 15 of the project units will still serve families earning no more than 20 of the San Francisco median income, or a. M. I. 14 units will serve families earning no moore than 30 a. M. I. And 24 units will serve families earning no more than 60 a. M. I. The project continues to be in compliance with all city requirements for the issue of taxexempt debt, including prevailing wage and local Business Enterprise requirements. Since youve last seen it, the developer has secure add debt limit allocation in the amount you have to 23. 5 million. The Financing Team has these documents with the City Attorney and bond council and the legislative package before you. As for timeline, the Financing Team is on track to close this transaction by early october. Rehab is expected to be complete by january 2021. On behalf of the project sponsor, Bernal Heights Neighborhood Center, id like to thank you for your consideration here today and look forward to your continued support for the project. Im joined by Bernal Heights Neighborhood Center sponsor representatives tara bott and e. J. Joans from Bernal Heights Housing Corporation w. , that id like to conclude the staff report and answer any questions that you may have. Thank you very much. Any question from my colleague . Seeing none, there is no [inaudible] put on this. This opens it up for Public Comment. Any members of the public care to comments on item number three . Seeing none, Public Comment is now closed. Id like to make a motion to move this to the board with a positive recommendation. I can take that without objection. Thank you very much, supervisor. Thank you. Item number four. Item number four, resolution declaring the intents of the city to reimburse expenditures from proceeds of future bonded indebtedness and authorizing the director of the Mayors Office of housing and Community Development to sub mitt an application to the California Debt Limit Allocation Committee to permit the issuance of Residential Mortgage revenue bond in an aggregate Principal Amount not to exceed 19 composite 3 million for 480 ed ddy street. Thank you. Have. We have Carolyn Mccormick from mlhcd here. Good morning, committee members. Im a project manager with the Mayors Office of housing, community and development. Im here to present on the proposed bond issuance for yosemite apartments. The purpose of the resolution is to approve the hearing the city conducted on july 11, 2019 in order to comply with the federal tax equity and financial responsibility act or tefra for yosemite apartments and to ratify and approve several other actions necessary later to make the bond issuance possible, including the submittal of applications to the California Debt Limit Allocation Committee to secure an allocation of bonds. The proposed bond issuance will be conduit financing and will not require the city to pledge any of its funds to the payment of bonds. Project description the yosemite apartments consist of the rehabilitation of an existing building located at 480eddy street in the tenderloin. The units in the project total 32 studios and one onebedroom. 100 of the units will be affordable to households earning a range of incomes up to a maximum of00 sfami. We return to plan to the board for bond issuance approvals in 2020 and here with me today are representives emily van loon and tim ponte of tenderloin development corporation, project sponsors. Happy to answer any questions you have about the projects. Thank you. Thank you. Please note were joined by supervisor mandelman. Any comments or questions from my colleagues . I have one question. Is there an average a. M. I. For the residents of that building . So, the building will be were using income averaging for this building. So the average incomes for this particular building will be 74 a. M. I. And the max will be 100 and that is one unit. It is using an income averaging scheme. Perfect. Ok. Thank you. No questions from my colleagues . Open it up for Public Comment. Any members of the public like to comment on this item, number four . Seeing none, Public Comment is now closed. Id like to make a notion move this to the board with a positive recommendation. Thank you, madame clerk. Item number five. Item number five, resolution authorizing the Mayors Office of housing and Community Development to apply for and execute a Grant Application for a healthy california article ii grant not to exceed 14. 3 million. Thank you very much. I believe we have amy chan here from mohcd. Good morning. Good morning, supervisors. Item number five before you is a resolution authorizing mocd to apply for funding under the housing for healthy california grant in an amount not to exceed 14. 3 million. The housing for Healthy California Program is a new Pilot Program administered by the California Department of housing and Community Development that provides grants to countis to rehabilitate sites, to provide permanent Supportive Housing for individuals who are chronically homeless or homeless and a High Cost Health user. The intents of this Pilot Program is to allow individuals experience significant barriers to housings abilitiess to benefit from Supportive Housing opportunities while decreasing their utilization of emergency services. Mocd is working closely with the department of homelessness and Supportive Housing to attain and administer this grant to create 30 new units of pefrm innocent Supportive Housing for this population. The application amount for up to 14. 3 million is based on the Capital Needs of a site that mocd and s. H. S. Has identified to be competitive for this funding. That site is an existing knox located at 241 6th street. The knox is a 25yearold building with 140 units for very lowincome residents. If awarded the state funding t rehabilitation work would be would include a systems worklife roof replacement and unit rehabilitation. 30 vacant units would be converted to permanent Supportive Housing with commitment from s. H. S. To fund the operating units. We thanked supervisor mandelman for your cosponsorship of the resolution and ask that the committee today approve the resolution which would allow us to apply for the funds and should we be awarded we would be coming back to this committee to seek approval for accepting and expending the fund. Thank you very much. Thank you. Any questions . Comments from my colleagues . Seeing none, lets open it up to Public Comment. Any members of the public like to comment on number fives . Seeing none, Public Comment is now closed. Ill move we forward this to the full board with positive recommendation. Thank you. Madame clerk, can you please call item number six. Item number six, resolution retroactively authorizing the arts choice ining accept a gift of art entitled larose des vents, valued at 386,000, authorizing the installation of the artwork in Golden Gate Park and authorizing the Arts Commission to accept and expend a donation of 190,000 while maintaining the artwork for a peteder of september 1, 2019 through september 23, 2039. Thank you very much. Is it rachel or rochelle . Rochelle. The director of partnership from the Arts Commission. Yes. Thank you, supervisors. Rochelle axle, director of public and private works for the art economy. Sing i have three slides and some handouts for the supervisors. Sure. Can i pass this around . Thank you. Again, thank you for this opportunity to provide some context for this gift to the estimate ill be giving a little bit of context about the partnership and go over these three slides. If you have any questions, im happy to take them. This project has been a Multiyear Partnership with our colleagues at rec park, the Planning Departments has been involved, the community especially in districts one and five and everybody who goes to Golden Gate Park. And the sponsors are also here today. Were very pleased along with the Arts Commission. The Arts Commission is responsible for stewarding and maintaining any artworks that are gifts to the city. And really our biggest involvement begins at the end of this process. If this is approved today. So, those slides let me walk you through quickly. Again, and im happy to answer any questions afterwards. Great. This is the image of the rose des vents outside the conservatory of flowers. This work has been on loan from the jslh foundation. They operate the gallery at Jackson Square on monlts gomery street. The a3xm art gallery and this was installed temporarily in its location where you see it there in front of the conservatory of flowers in 2015. It was unanimously approved to do so by the rec and Park Commission as well as art commission. And this temporary permit has been extended twice as the foundation began to work with us and rec park to the process of donating it permanent to the citys collection. And in 2017, late 2017, our agency authorized the tentative acceptance of the work pending the approval of the location that i just mentioned was unanimously approved and then the permanent acquisition will be pending this approval today. And then late last year, the Planning Department completed its Historic Resource evacuation evaluation of the work and got the extension from ceqa and rec park approved the Permanent Location on december 20. And this bullet is particularly important. The Arts Commission is responsible. Its our jurisdiction to steward and maintain any art that belongs in the civic art collection. This donation came with a significant 190,000 maintenance gift and that is really important to specify. So, the money is in place for the next 20 years for us to be able to maintain and conserve this piece as it needs it. And these costs were derived from the conservator that we have been working with over the last couple of years and they amortized it for the 20 years based on the conservation that they have done thus far. And then last note, San Francisco and paris as you know are sister cities. This work is an extension of a work that was that is installed permanently at versailles, the First Permanent work at versailles in 300 years as i understand it. And the mayor of paris is very excited about this gift to the city. Im happy to answer any questions. Thank you very much. Any comments or questions from my colleagues . Seeing none, open it up to Public Comment. Any members of the public would like to comment on item number six . Seeing none, Public Comment is now closed. Id like to make a motion to move this to the board with a positive recommendation. We can continue that without objection. Thank you very much. Thank you very much. Very much. Madame clerk, can you please call item seven, eight and nine together. Yes. Item number seven, resolution authorizing and directing the sale of not to exceed 3. 1 million aggregate Principal Amount of clean and safe Neighborhood Parks fund, 2012 to 2019c. Item number eight, resolution authorizing and directing the sale of not to exceed 92,000 aggregate Principal Amount of city of county of San Francisco and item number nine, ordinance appropriating 3. 1 million of proceeds from the 2012 general obligation parks bond to the port of San Francisco and appropriating 92. 7 million of proceeds from the 2015 general obligation housing bond to the Mayors Office of housing and Community Development in fiscal year 201920 and placing 95. 8 million on controllers reserve pending the sales of bonds. Ok. Had benjamin mckloskey here, but you are not him. No. Im from the krohlers office of public finance. Ill be here presentings for items seven, eight and nine. Ill give a quick summary of the financing and then we have benjamin to describe the affordable Housing Projects and katie from the port to describe the parks projects. Thank you very much. So, yeah. The items seven, eight and nine are resolutions approving the forms of financing documents, including the preliminary official statement, bond purchase agreement, notices of sale and intention to sale and continuing disclosure and appendix a as well as approving the sale of general Obligation Bonds for the 2012 clean and safe Neighborhood Parks program. Ands the 2015 Affordable Housing program. Back in november 2012, the citys voters approved prop b, which is the San Francisco clean and safe Neighborhood Park bond authorizing 195 million in general Obligation Bonds for construction and renovation of park, and rec facilities in the city. To date, 19. 9 million of the bonds have been issued, leaving this final 3. 1 million remaining from the 2012 clean and safe parks bond program. The projects had been split swaoen the recreation and Parks Department for citywide parks and the port of San Francisco for Waterfront Parks and this final issuance of 3. 1 million will be used to fund a pair of Waterfront Park projects that are managed by the port. So, katie will be presenting those projects in a little more detail after this. The other bond issuance im here to present is the november 2015 affording housing bond. In 2015, voters aproved prop a, which authorized the city to issue 310 million in general Obligation Bonds to fund capital projects, to prioritize affordable Housing Projects for vulnerable population including vulnerable families, veterans, seniors, disabled persons and the projects that are fund include acquisition, rehabilitation and presester is vacation of affordable rectangletal buildings to prevent the eviction of longterm detenants, middle Income Rental Program and homeownership loan assistance project. To date, weve issued 217 million worth of bonds under this program and this resolution would allow us to issue the remaining 92. 7 million to close out the 2015 Affordable Housing bond funds. So, benjamin will be here to present those projects in a little more detail. So were assuming a total anticipated amount of 95. 8 million for the two bond series. We received a good faith estimate of the financing dpro s our municipal advisory team. Using the estimated xwhiened Interest Rate of 4. 93 . The expected annual debt service on these bonds is expected to be approximately 7. 2 million. So over the 20year life that we expect on these bonds, the total debt service we are expecting is approximately 142. 8 million. The annual property tax impact of the bonds will be approximately 2. 80 per 100,000 of assessed Property Values. So for a homeowner of a 600,000 assessed property with exemption, that would be about 16. 61 of property tax impact. The charter of the is citys charter has a debt limit on general Obligation Bonds which is 3 of the total assessed value of property in the city. Now to exemptions. The citys outstanding geo bond debt is approximately. 95 of the net assessed valuation for last fiscal year. So, if the board of supervisors approves the issuance of these bonds, the debt ratio would increase by approximately. 03 from. 95 to. 98 which is well within that 3 limit. Additionally the board has approved the citys 10year capital plan and that places a policy restraint on general Obligation Bonds to ensthaur property taxes will not be increased above the fiscal year 2006 level of. 01 cents of 100 of assessed value and the proposed sale of these bonds is consistent with that policy and would maintain the property tax rates below that fiscal year 2006 rate. Currently were expecting to price and close the sale of the bonds in october. I can try to see speak to any questions you might have regarding the bond financing of documents and ill turn it over to benjamin to go over the Housing Projects. Thank you. Have. Good morning, supervisors. Benjamin mckloskey. Just a general overview of the bond that were talking about today, was passed by voters in november of 2015. Total amount of the bond is 310 million. As michelle mentioned, to date weve issued about 217 million and this third and final issuance will be the last just short of 93 million. And as rochelle also mentioned were moving forward with the board approval process today and hoping to issue the debt in october. The program, as defined by the bond that the voters approved had four categories of spending. The first 80 million for Public Housing. Then 100 million for lowIncome Housing 50 million specifically in the Mission District and 80 million for middleIncome Housing. And you can see in this table from the three issuances how that breaks down to the totals. The first bond issuances over 99 spent or incumbered and the second is over 64 spent or incumbered. Both of those issuances will be fully expended by late 2020t. As a reminder unlike other geobonds, the city is not directly building any housing with this money. Wrather were making loans to individual homeowners. An update on our accomplishments so far from the first and second issuances, in the Public Housing category, construction is complete at block x. The building is now occupied. Sunnidale parcel two is currently undergoing construction, expected to be completed in may of 2020. And were working on infrastructure design for supporting 390 units at patrero and sunnidale. In the lowIncome Housing category, construction is going on currently at 1296 shotwell, 88 broadway and 1990 fullsome. In the small sites program, which was one of the categories of spending in the lowIncome Housing category, we have completed renovation at 28 units and 49 have been acquireded and are currently under renovation. In the middle Income Housing category thus far, weve issued 59 down payment assistance loans to firsttime home buyers in the city. And this map shows the location of investments from the first and second issuance of the bond through june 30. Orange is the down payment assistance loans and blue is small sites and the multifamily projects. Just briefly visualization of spending from the first and second issuance. As you can see, the majority of the First Issuance of the bond is already spent. And the second issuance of the bond is very minimal issued for Public Housing. In the lowIncome Housing category, about half is spent and the rest is incumbered or in process. In the Mission District category, youll see that there is a larger gray bar. This table is of june 30. But in mid july, we actually encumbered those funds for those projects and that gray is now orange and were proceeding along with issuing down payment assistance loans under the middleIncome Housing category. On to this current third issuance that were asking your approval for today. The final 37. 5 million in the Public Housing category will Fund Infrastructure and vertical Gap Financing at patrero and sunnydale supporting sites totaling 390 units. In the lowIncome Housing category, there is a little bit, 1. 5 million remaining for the small sites program. Theres also 5. 7 million for 500 turk street and just shy of 1 million for 681 florida in the Mission District. That is part of the Mission District set aside. In the middle Income Housing category, a little over 19 million of down payment assistance loans, including almost 3 million targeted for down payment assistance loans for San Francisco Unified School District teachers. And 26 million to fund pregoment and construction of 28 units of middleincome teacher housing. This is Frances Scott key project at 43rd and irving. Visualization of our anticipated spending of this issuance, youll see a lull in for most of 2021. And that is due to the timing of thes construction of 43rd and irving. That is not anticipated to Start Construction until december of 2021. And when it does, this is bond the final bits of this bond will be spent. In summary, all funds from the 2015 geo bond are programed to projects moving forward. We anticipate about 1500 units of production. Of course, this does not meet San Franciscos Affordable Housing needs. Other Funding Sources are required to move newly identified projects forward and to support our existing longterm commitments to Public Housing. Im happy to answer questions now or we can go on to the parks fund. Questions for my colleague . Seeing none, i think we can move on. Good morning. Im the c. F. O. For the port. Im here to ask that the board award the final issuance of the clean and safe Neighborhood Parks bond. The 2012 bond included 34. 5 million for funding for port parks. To date, weve participated in two of the bond sales and there is 3. 1 million remaining in the bond, which the port intends to use to Fund Improvements at hurons head park and aquavista park. The 2012 bond has funded construction and improvement to six port parks, including construction of the plaza outside the pier 27 cruise ship terminal and [inaudible] narc park in dog patch which is currently under construction. To date, the port has appropriated 31. 8 million in 2012 parks bond proceeds, which includes 331,000 in interest earnings. This bond sale will allocate 1. 7 million to aquavista and 1. 2 million to herons head with approximately 189,000 allocated to cost of issuance. The port is expecting to spend all of the remaining parks bond funds, including this appropriation by june of 2021. Funding for herons head will support continued enhancements to this park and natural area, which is in the southern waterfront. The project will improve a. D. A. Accessibility and strengthen connectivity to the yainlds basin and pg e shoreline parks, which are to the south. The fund willing add signage and lighting and upgrade the solar pan panels at the eco center which is an off the Grid Building we use to provide park programing and activation. This bond sale will also complete a 2 million budget for renovation of aquavista park, which is across the street from the new chase center and also adjacent to the soontobe constructed mission bay ferry landing. The park was built in the 1970s. Its pretty tired. And this funding will enable the port to implement a host of improvements, including new plantings and irrigation, new site furniture and lighting as well as improved access to an existing fishing pier. The port intends to make these improvements to aquavista using the same contractor that we use to construct mission bay ferry landing. And we are hoping to award that contract in spring of 2020. Im glad to answer questions. Thank you very much. Any questions or comments from my colleagues . Seeing none, lets hear from the b. L. A. , please. Good morning, chair fewer, members of the committee. The board of supervisors being asked to approve two resolutions that would authorize the sale of general Obligation Bonds, 2. 1 million in taxexempt bonds for twopart projects and 92. 7 million in taxable bonds for loans to Affordable Housing properties. And the ordinance would appropriate these funds to projects which we summarize in table three on page five of our report. And then to follow up with what he said, debt service on these bonds is within the citys debt limit and capital plan policies. As an example in terms of impact on property taxes for a house, a home assessed at 600,000. The annual increase in property taxes would be a little bit more than 16 per year. And we recommend the approval of all three pieces of legislation. Thank you very much. Lets open this up for Public Comment. Any members of the public like to comments on item seven, eight and nine . Seeing none, Public Comment is closed. Colleagues, any further questions or comments . These are the last issuance, i think, of the remaining funds of these bonds. Id like to move this to the board with a spof recommendation. We can take that without objection. Thank you very much and thank you for your presentations today. Madame clerk, can you please call item number 10. Item number 10, ordinance appropriating 11. 5 million of fund balance to the port for the San Francisco sea wall earthquake safety and Disaster Prevention Program in fiscal year 201920. Thank you very much. I think we have catherine from the chief Financial Officer from the San Francisco port. Thank you. Apolicies. Apologies. I do have the right file. Hang on just a second. No worries. Ok. Good morning. Im the ports chief Financial Officer and i am here this morning to request that the board approve a supplemental appropriation in the amount of 11. 5 million to support the sea wall program. The 11. 5 million would be funded by the ports harbor fund to support ongoing planning, community out reach and preliminary design work on the sea wall program in fiscal year 1920. I am here this morning because, in april of 2019, two San Francisco residents filed litigation challenging proposition a and alleging that the city has violated a variety of state and local election laws in regard to that proposition. On june 18, the litigation was dismissed by a superior court judge. On july 18, litigants filed a notice of appeal. While the City Attorney believes that this case is without meter, the city has chosen to delay the sale of the first sea wall bond. To bridge the gap until bonds might be sold, the port is proposing to appropriate available harbor fund balance to supports the sea wall program through this 1920 fiscal year. When bonds are finally sold, the ports 11. 5 million contribution will be reimbursed to the harbor fund. As you know, the primary Funding Source for the sea wall program is the 425 million sea wall bond. Without this funding, the port has no sources other than the harbor fund to use to backfill the delayed bond sale. As of this morning, port staff is estimating that at our current rate of expend chure, the sea wall program will exhaust its existing appropriated funding at the end of september or the beginning of october. Without either the bond sale or supplemental appropriatation, well have to halt work on the program because we will run out of money. We are proposing, with this appropriation, to fund nine months worth of expenditures. This work will include completion of the multihazard risk assessment, the initiation of alternatives development, the continuation of Public Engagement as well as the ports ongoing collaboration with the u. S. Army corps of engineers on the flood study. The Port Commission and the planningcapital Planning Committee have both approved this item w. This committees approval today and a vote at the full board over the next two weeks, we hope to have funding in place that will allow us to continue this programs work through june 30. And, again, im happy to answer questions. Thank you very much. Lets hear from the b. L. A. , please. The proposed ordinance appropriates 11. 5 million in port fund balance to the sea wall program for some preliminary cost for the program. We show those costs in table one on page 11 of our report. As she said, the current fund sba l a little over 14 million so this would leave, you know, about 4 million in funds remaining in the fund. However, onces the geo bonds are issued for the sea wall program, the moneys would be rim bursed by the bonds proceeds and we recommend approval a. Thank you so much. Lets open this up to Public Comment. Any members of the public like to comment on item 10 . Seeing none, Public Comment is now closed. So, colleagues, any comments, questions on this gap funding . Seeing none, id like to move this to the board with a positive recommendation and we can take that without objection. Thank you very much. Madame clerk, can you please read item number 11. Item number 11, ordinance levying property taxes at a combined rate of approximately 1. 17 on each 100 valuation of taxable property for the city and county of San Francisco, San Francisco Unified School District, San Francisco county office of education, San Francisco Community College district, Bay Area Rapid transit district, and bay area air Quality Management district and establishing a passthrough rate for residential tenants for the fiscal year ending june 30, 2020. Thank you very much. Do we have Jamie Whitaker . Ok. The property tax manager for Controllers Office. Welcome. Thank you. Good morning, supervisors. This is the 201920 secured property tax rate for the city and county of San Francisco and the residential tenant passthrough rate. Just to explain what who is involved in property tax revenue very quickly. We have the assessor who determines the taxable values of property. We have the Controllers Office thing what im doing right now, getting figuring out what the property tax rate needs to be set at in order to pay the debt service on voter approved general bonds. We create and manage the property tax roles for the county. The Tax Collector sends out the bills, collects payments and then back to the Controllers Office to distribute the revenues that are collected. This ordinance needs an amendment to reflect the property tax rate factor approved by the bater board of directors. A couple of thursdays ago, august 22, the property tax rate thats proposed is 1. 1801 for every or 100 of value assessment. Just to review the property tax rate history, prop 13 passed in 1978, sets the base property tax rate of 1 of that funds operations for the city, bart, the air quality district, San Francisco Unified School District, city college and our county office of education. The part that changes every year, and that we need the board of supervisors to approve is the tax rate factors for the general Obligation Bonds approved by the voters. For the city and county of San Franciscos general Obligation Bonds, as you heard at earlier items has managed to stay under. 12. This year it will be. 1167. For the other tax annuitis with general Obligation Bonds, their rate factor combined is. 0634, adding up to the proposed tax rate of 1. 1801 . The median assessed value, which is quite different from the market value today in San Francisco, the dwellings of the home islast year was 560,000. Prop 13 allows a cap of up to 2 inflation every year. So keeping adding on the 2 would make a median taxable value of about 571,000. So, the change in the property tax bill for median value home would increase about 227. I ask you that please amend the ordinance to approve barts tax rate. If you have any questions, id be happy to address them. Any questions or comments . S the b. L. A. Report. State law requires the board of supervisors to set the property tax rate each year. This is not only for the city and county, but also for the taxing entities, the school district, Community College district, bart and bay area air Quality Management district. The increase is 1. 7 cents for every 100 of assessed value in 1920. Table two in our property on page get the right page 15 summarizes the increase by taxing entities. That includes the increase for bond passthroughs. There is under the citys admin code, an allowable passthrough to tenants so as was stated in the presentation t singlefamily residents with a median assessed value, the increase would be about 226 million per year. The passthrough for tenants goes down in the coming year compared to last year and we recommend approval. Thank you very much. Any members of the public like to comment on item number 11 . Seeing none, Public Comment is now closed. Colleagues, any questions or comments . Lets move this to the board with a positive recommendation. Thank you. Oh. I dont think we need to tamds ordinance because there was not an amendment present. Thank you very much. So lets move this to the board with a positive recommendation. Thank you very much. We can take that without objection. And lets do item number 12. Id like to continue item number 12 into the meeting of september 11 and so i will take Public Comment now and would you like me to call item number 12 first . Yeah, sorry. Please call item number 12. Thank you. Item number 12 resolution finding the proposed updated airport Shoreline Protection Program at the San Francisco International Airport fiscally feasible and responsible. Thank you very much, madame clerk. Id like to continue this item until the meeting of september 11. But lets hear Public Comment. Are there any members of the public that would like to comment on item number 12 . Seeing none, Public Comment is now closed. At that time, on september 11, well hear the b. L. A. Report and a full report from staff. So, i would like to make a motion to continue this item until september 11. We can take that without objection. Thank you very much. Madame clerk, are there any other items before us today . There are no other items. We are add juneder. Thank you. Adjourned. Thank you hi. My name is carmen chiu, San Franciscos aelectricitied assessor. Today, i want to share with you a property tax savings programs for families called proposition 58. Prop 58 was passed in 1986 and it was helped parents pass on their lower Property Tax Base to their children. So how does this work . Under californias prop 13 law, the value we use to calculate your property tax is limited to 2 growth peryear. But when ownership changes, prop 13 requires that we reassess properties to market value. If parents want to pass on their home or other property to their children, it would be considered a change in ownership. Assuming the market value of your property has gone up, your children, the new owners, would pay taxes starting at that new higher level. Thats where prop 58 comes in. Prop 58 recognizes the transfer between parents and children so that instead of taxing your children at that new higher level, they get to keep your lower prop 13 value. Remember, prop 58 only applies to transfers between parents and children. Heres how the law twines an eligible child. A biological child, a step child, child adopted before the age of 18, and a soninlaw or daughterinlaw. To benefit from this tax saving program, remember, you just have to apply. Download the prop 58 form from our website and submit it to our office. Now you may ask, is there a cap how much you can pass on. Well, first, your principal residence can be excluded. Other than that, the total tap of properties that can use this exclusion cannot exceed 1 million. This means for example if you have two other properties, each valued at 500,000, you can exclude both because they both fit under the 1 million cap. Now what happens hwhen the totl value you want to pass on exceeds 1 million. Lets say you have four properties. Three with current taxable value of 300,000 and one at 200,000, totaling 1. 1 million in value. Assuming that you decide to pass on properties one, two, and three, we would apply the exclusions on a first come, first served basis. You would deduct properties one, two, and three, and you would still have 100,000 left to pass on. What happens when you pass on the last property . This property, house four, has been existing value of 2 has an existing value of 200,000, and its existing Property Value is actually higher, 700,000. As i said, the value left in your cap is 100,000. When we first figure out your portion, we figure out the portion that can be excluded. We do that by dividing the exclusion value over the assessed value. In this case, its 50 . This means 50 of the property will remain at its existing value. Meanwhile, the rest will be reassessed at market value. So the new taxable value for this property will be 50 of the existing value, which is 200,000, equaling 100,000, plus the portion reassessed to market value, which is 50 times 700,000, in other words, 350,000, with a total coming out to 450,000. A Similar Program is also available for prepping transfers fl interest r from grandparents to grandchildren. If youre interested in learning more visit our website or my name is jean alexander. Im an attorney in the San Francisco City Attorneys office. I supervise the tax team, giving tax advice to the treasurer, tax collect or, drafting tax legislation. The thing i remember my mother telling me as a child is that you need to be prepared to take care of yourself and i knew that i wanted to be able to do something that i enjoyed. I didnt expect anybody to give me anything because nobody ever gave her anything and i also i always saw her fighting for the things that she wanted in life for herself and for her children. My name is jasmine flores. I am working as an Admin Assistant in the City Attorneys office. I have always enjoyed the tasks that i have been given. On the days i show up and work on my own is empowering. For me, happiness in being more involved in a persontoperson interaction. My dream jobs includes being a physician, paramedic, firefighter, working with animals with the public. On a personal level with self improvement. My sister is the biggest influence in my life because she taught me to go forward with what makes you happy rather that what makes you the most money. I graduated from law school in 1972 at a time when there was a beginning to be an influx of women in the Legal Profession and tried criminal cases for about 10 years, treatment for delinquent operating programs, government budgets, analyzed fiscal legislation. I came to the San Francisco City Attorneys office and i have been here for about 12 years advising on tax matters. I did just about anything you can think of. Some things that lawyers do and some things that lawyers dont do. Im from the mission in San Francisco. I have grown up there and i have lived there pretty much my whole life. Living there, i do see other women, some of them older, some of them look just like me like my age and a lot of them work nanny jobs, child care jobs, retail jobs. I dont know, it seems kind of