Improvements in your home whether you wanted to do other sort of improvements to imove the condition of your life. Im actually on the memo now. On page four it satisfies after deducting Standard City administrative fees. What is this based off of . Is it decrease in potential mortgage payments due to interest decreases . Right. Its the value of going from a joint tic ownership model to an individual condominium owner. Its a superior form of ownership as you increase the benefit. That was part of the 2001 nexus study. Even without selling your unit there is a financial benefit with your mortgage benefit at the moment the subdivision map is conferred. Can you explain about the fee deferral profit at which point you are granted the financial benefit. What would the process of applying for the deferral be . I know that you can use that to pay towards your condominium conversion bypass fee . John from the city attorneys office. Maybe i can address some of the questions, because this is a 3u
Transactional things. This is lined up in advance with a Title Company and a mortgage company. Its really up to the Property Owners. Oftentimes, there is a transition very quickly when you become an official condominium after its recorded to change the mortgage product that you have from a sort of a joint mortgage with all the tic owners to individual mortgages that each condominium owner has. Its up to the Property Owners to go figure out that process and to line it up and see how quickly they can do it. But, within a short period of time you will be in a situation where you can arguably have a new individual mortgage at a lower rate on a higher value piece of property. Thank you. My next question is, is there, i know there are situations where maybe not all owners agree to condominium conversion maybe because they dont want to pay the fee but there are other owners who have other greater incentives to sell. Is there anything that mandates that the owner itself must pay the 8,000 fee
Everyone deserves a bank account. In San Francisco, anyone can have a bank account, things to an Innovative Program, bank on s. F. Everyone is welcome, even if you are not a citizen or have bad credit to qualify for a bank account is simple. Just live or work in San Francisco and have a form of id. We started bank on s. F. Six years ago to reach out to folks in the city who do not have a bank account. We wanted to make sure they know they have options which should be more lowcost, more successful to them and using chat catchers. Check Cashing Stores can be found all over the city, but theyre convenient locations come with a hidden price. These are big. I remember coming in to collect charged a fee to collect a monogram. People who use check catchers, particularly those who use them to cash their paychecks all year long, they can pay hundreds, even a thousand dollars a year just in fees to get access to their pay. I do not have that kind of money. I would not have to pay it if i had a b
Makes this job so full and so dynamic and extremely rewarding, thank you. Thank you very much, supervisor, i echo all of those comments and i especially want to thank my co so, good morning, everyone. My name is mark farrell. Im the supervisor from district 2 here in San Francisco. Last year, thanks to the great leadership of our mayor ed lee, his office of housing in particular, olson lee and brian chu who are here with us today and my colleagues on the board of supervisors, together and with the voters of San Francisco, we passed proposition c, the Housing Trust fund initiative, to create and approve Affordable Housing citywide and to provide loans to assist with the down payment towards the purchase of homes here in San Francisco. The passage of the Housing Trust fund was and is a huge win for all of San Francisco and our residents as one step in the right direction towards continuing to solve our citys ongoing housing needs. We are here today to announce the launch of a renewed dow
Fact, this year the city of San Francisco will help with over 100 million of resources to our San Francisco school district. Were not going to let them be isolated anyone. This is the future markets and Public Education is at the heart of it. We will help them succeed. Were also making sure that this very expensive city is more affordable to more people. I know theres a lot of concern about that and we need to work on it. [applause] thats why i push hard on the Housing Trust fund that was passed last year creating one and half billion dollars, not million, one and half billion dollars to build more Affordable Housing in the next 30 years in San Francisco. Not stopping with that. To give mr. Kelly and i are working very hard to reenvision a public housing, to note that sold housing. You know thats isolated poverty. You cant let that happen any longer. Weve got to build mixed Income Housing and keep our promise to the residence. Theyre going to save Housing Housing networks, maintained f