number 6 and switch the order of 6 and item 5. >> yes. >> thank you. >> so, now we will move to item number 6. >> welcome and did you want to bring up the power point presentation so sfgovtv we have a power point presentation thank you, very much and commissioner white for putting me on the agenda good afternoon i'm the founder of the bay bucks a courtesy for the san francisco bay area and i'm here to report on the benefits that a come merry courtesy brings i remember many have seen rapid development and we see the block change technology you may know about the digital currency headquartered here in san francisco in fact san francisco has been on the forefront of monetary i come here to tell you about another kind of the innovation that is happening here not well known to tell you how to have an impact on small businesses it is the innovation called commentary courtesy it is called it bus it operates with the national currency that strengthens both so it is simply a means of exchange that a community has agreed to use monk itself theaters an example in 1934 skirld in the throws of a great discrepancy any local businesses were folding a group of business owners had a realization the reason why they had the services submit not because people didn't need 0 wear clorthsz or housing they no more than had a swiss frank they solved the problem of a lack of swiss france by creating is another courtesy in germany means off or we in german via is nationally one to one with a swiss frank but not comprehensible to the swiss frank each business can create the via they need by first pledging and e vanilla value for this service very soon this was the users that started doing brisk trade and it quickly spread from the initial 16 members in 1934 by 2005 the via networked had 62 thousand members and they collective do an annual transaction of $6.5 billion that's with a b france and there is something called a challenge industry that is global in all parts of continent those changes have a global association walls called the trade association you'll see the logo on the right that is a commentary courtesy working in the business to business rather than the come pyotry currency is business to consumer or consumer to business you may not familiar with bay area community exchange in the time bank local resident join and trade work-hour for hour for example an hour of gut lessons for an hour of massage or dog walker walking and so on they've sprouted out helping people to build self-help communities and other courtesy is folks share the brirt count in the uk is takes the salaries and their working on laughing tax to be payable in the brifrt counts as well as in kenya it is truly a global phenomena no as far the arena and the sea to sea arena of commentary you been courtesy has remained distinct our renovation to release that the commentary occurscy that works across the and to sea will be more powerful many benefits of using a transacted commentary currency i'll online 3 to illustrate first benefit of commentary courtesy it fostered business community self-help from the example we see that during a down turn besides struggling alone or seeking the international government for help coming together and helping each other heros a real life example that happened in san francisco bay area michael was an architect in berkley would used to work in a large architecture firm we joined bay bucks he started his private plea practice and needed a website he fold j in san francisco and by pledge his own architect services he paid j. jay to create a website for equivocal michael had a negative balance in bay bucks he was okay. it is sdroer center interest and there's no minimum monthly payment and the cafe sf mission strict joined bay bucks and needed to roommate but they were short on cash so he pledged his coffee beans and created pay bucks to pay michael michael has gefrd or kefrdz the money for his we are talking about and used this to pay for the time in oakland and from there he got more clients what about jay well jay the web designers used the bay bucks to foil his takes and victor used her bay bucks to buy a chair in san rose it go on in the spreading collective we can have businesses helping each other second benefit of commentary courtesy it shortens the downturn because of it's circle california commentary we've seen after the 2008 recession the reluctance of banks to lean money the suffering would could have been shortly this committee is stable not because of it's banking industry or watches but because of it's commentary courtesy there's xiechlts including a professor that published papers during boom time businesses focus on making profit international currency so transaction in that comes up but the transaction courtesy declines but during a buck the reverse happens while this is starting to create the commentary currency to take up the slack so in single-family dwelling they had the comy currency it increased in the dip helped businesses to stay afloat and disinterested the - professor is one of the currency founder of the u are and manager of a touch hedge fund he was mentioned as the top currency trader in the magazine after going into academy the professor deemed that he understand doping the short coming of the current monetary system and is an ardent proponent and advocate for the commentary currency as a mechanism to close the gap hose written many books on the subject the third benefit of commentary currency it builds local prosecutes period of time and gives the biological campaign by definition the local currency only has value in the location it operates that is the bio region of the bay area xhoimz of architecture to the north and technology and entertainment commission in the center and manufacturing destroy in the south first currencies will not end up in wall street they'll build local prosperity imagine what happens with the local residents can also use a commentary currency when they use a local currency to shop local the effects to the local economy will be much bigger and it creates a lot of excitement and color all those benefits and more are win reach for the bay area with san francisco taking the lead bay was started at a grassroots san francisco project in 2012 and have been operating for more than two years based on volunteer effort it grew by 60 percent in 2014 and already has more than 2 hundred and 50 loophole businesses in this network we're not file to become a workers on cooperative and want to create the members into the cooper that's a great start with feasibility next step to it for it to take off it can't do so on hits own we need help to overcome some challenges people don't understand or are superstition of commentary currency they don't want to get involved because their front yard is there any way to partner with the city it will be very helpful i'm open to any suggestions from the commission on how to work together i would like to over administrative review as a expert resource for the commission on the currency i'm at our service to answer questions about this matter in conclusion i want to reiterate that commentary currency is a key anything's place of a purldz for a justice economy it faufrtsz mulch clafksz between businesses and makes small businesses for resilient and ideal for local to build local prosperity like switzerland smaur u san francisco bay area has it's on commentary currency build by the local community it needs for a visionary leader and the local government to help it scale out to bring the benefits it brought to switzerland so here on the late slides this is what the legislation said in a report to rome published in 2012 he said our monetary system is the missing link we tend to assume we must have a single money currency and forced by the extra bank but we don't need any such thing the present system is outdated like any culture it is professionalable but a receipt for economic and environmental disaster it is the keep with the commentary currency alongside the conventional one? this is more fair and spinal it works like this in the past and yet we can do this thank you very much i'll be happy to answer any questions. >> so it seems time of prosperity are a tough time to show this since it thrives in times of adversary. >> well, thank you for your presentation any questions commissioner tour-sarkissian. >> i have a question of monitoring the conception and the eyes of in services monitor that and limits in our actual system among the 2 hundred and 50 members that you have let me be more explicit you're a member of the system you using the currency for services that is there a limit for that. >> there's no limit and really i mean someplace you can't use $200000 and stop it depends on the business depends on the size of business the bigger they can pledge more in gods and services use you have a pledge services. >> have to make a pledge. >> in order to have access to the currency you have to pledge i'm an attorney i pledge services or hours. >> yes. consulting time this is to make sure that all the money you create is not an m t thing that is inflationary but backed by services people can could be and spend money for legal services it is basically, what why we're having this to make sure that everyone plays back let me finish it is considerable businesses join without pledge they'll create a couple of bay bucks and when people come to them and say we need our our gang meat they'll say no, i'm sorry i don't have any available but if you pay cash. >> if you consistent have a negative balance is it self-monitoring we're a zero balance so zero balance we're okay with negative balance the problem if you have a negative balance and refuse the honor the bay bucks you've created okay. >> i thought that was frank rogan, president and ceo, united way of roanoke valley if a small business to small business 06789 we make decisions based on cash flow i need a new compressors but can't afford it maybe the compressors dbi has a warehouse full of compressors and maybe needs somethings i need a compressors amount of whatever but it also allows me to off up my products for gods and serviced i might need and also where technology companies come into play i'm not going to pay for that if i didn't have to pay are 40 it is something that is convertible i might be offering that at list price i'm making it at cost i get leverage what i'm smichltd and the compressors guy says it is costing me space and money to have them in spoke so kind of an interesting concept it is a little bit absorb but where's the irs come in that's why what i was going to ask (laughter). >> the irs total knows about that and in 19983 the act was passed the equality act it was explicitly recognized an irs form a 10 b we give to all your members. >> all our contractors are on a 1099 as well it's interesting. >> question who issued the 1099 are we issue it. >> the platform itself is a software so we keep track of activities so we create it. >> under the 109 b the member is getting services from many other members you're saying you collapse it into one 1099. >> well, probably a schedule but they're keeping track of the transactions. >> the platform is interesting i appreciate you coming to present it was even more interesting the second time around. >> i have a question for the board commissioners which is what would be your advice to scale this out after approving it to scale it so it will truly have an impact we have changes signed it is a little bit scary to scale up. >> to scale up is an issue. >> i look at your website to see what companies but i didn't do a deep dive i saw a couple of keypads i recognizes but for me to feel comfortable because i sell to businesses and consumers this is one example of it being used and getting people who getting companies that people rolled will he recognize doing it. >> i have if i may what's the business model how does your company make money. >> we make money when we help our members make a successful transaction and take a small percentage fees. >> in bay bucks or foes. >> both when our selling that is 68 percentage in bay bucks you're able to sell we bring you knew clients it is a super cheap sales commission so we charge 6 percent in bay bucks when we help you buy something it is 6 percent cash so that again is for businesses it becomes a great savings so our spending one thousand dollars in hire a lawyer you spend $60 for the same service awesome any other questions well thanks for indulging us. >> thanks for coming out. >> all right. >> we're coming to i think yes. >> returning to discussion and possible action to make recommendation to the board of supervisors on file number 150268 administrative code restaurant commissioners unfortunately supervisor london breed's officer is not able to be here that's a simple bit of legislation previously like the small business week where the supervisors how shall small business they have been established restaurant week the month of october and now the d g r a the golden gate restaurant association has to follow national restaurant week eat drink sf as a restaurant week campaign or program excuse me. and so through the discussion with both the grlg restaurant association and supervisor london breed's they're not doing the recognition of individual restaurants but changing to do an official recognize for restaurant week sometime in january to match the golden gate restaurant association eat drink sf program and for small business week we see for. >>again, numbers or number of small business that are nominated by the supervisors are rauntsdz so this was what way to match the acknowledgment of restaurant week association program so it is before you there's no reason not to recommend approval the golden gate restaurant is recommending approve >> do you know about this. >> i did not. >> (laughter). >> it sounds like that is the right thing to do it makes sense actually. >> it didn't preclude a supervisor from wanting to acknowledge a restaurant during but not an official program and dpw was the entity that was overseeing the official acknowledgment it didn't happen last year so this way it really lines up and mirrors what the golden gate restaurant association is doing during january. >> what do they do. >> normally a supervisor that likes a restaurant in their district impacting neighborhood along with their business so basically that will to that only in. >> january. >> in january. >> there will not be an official sort of like for small business week we send out a thing we requested they make a recommendation i mean they do their honoree we sort of organ a program around that and under restaurants we it was dpw but it didn't happen - previously in october it explicit happen consistently the department organized the recognition program and because it also requires vesting llp scores and all that stuff this way it sort of aligns with the enlivening restaurant eat drink sf program part of the national restaurant week. >> in january. >> in january and this allows a little bit of flexibility for the board of supervisors to do any kind of acknowledgment working with the enlivening restaurant association. >> it let's dpw off the hook and aligns with the existing invading. >> activity i think that's fine i have no problem with that . seeing none that being said >> do we have a police commission or any further discussion. >> i move. >> second roll call. >> commissioner adams commissioner dooley commissioner white commissioner ortiz-cartagena commissioner l. riley commissioner tour-sarkissian commissioner white okay. so that motion passes to recommend to the board of supervisors file number 1026 to do you want the file commissioners we are moving on to item number that and i have to apologize i did not get as much work done for a full presentation to really start launch into developing our recommendations for the legacy business program i did want to provide you with updates we'll bring our our commission secretary may 11 so i'll be able to give more attention and times i want to bring a couple of things toourgs in regards to the background that is taking place so a couple of things one thing i'd like to ask the commission for consideration we're welcome to have discussion on this but to give consideration at a future date so the 0 likelihood in the first two to three years we'll see a number of businesses for example sf heritage is a restaurant and bar register program that is the restaurants i think and bars over 40 year-olds so this is even a higher standard they're close to i think 350 to 4 hundred of those businesses that existed; right? so thooerp just for that industry the first year we could be looking at hundred requests for the legacy businesses to come forward to the commission by looking at this if the commission were to review 2 hundred applications within a year that would be 17 per month and if you average about 15 minutes per registration we're looking at anywhere from 4 i and a half to 6 hours additional time during the week so i'd like to do is have you give consideration as to whether we extend our time or we conduct a special meeting time of which the commission only deals with register

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