In 2015, when we had our last housing bond, it was 310 million dollars. The amount has doubled, thats really exciting. We have also talked about putting Affordable Housing in the citys capital plans. We are really planning for Affordable Housing needs as part of our overall city needs and that we are accounting for that every 45 years. When we have expanded the bond proceeds that we are in q4 coming back for the voters to fund the Affordable Housing needs that we have two meet what our residents need. The bond will Fund Acquisition construction improvement, rehabilitation and preservation and repair of Affordable Housing. The bond funding will further our offices work in meeting the need for the population of people that we care about, including persons with disabilities. It would do so by providing the funding that we need to build out all of our new construction Affordable Housing. Those housing projects meet the needs of persons with disabilities through assessable common areas and amenities on all of those sites. Those are include 90 of units that are adoptable. 10 of units accessible with mobility features which is double the amount that is required. Those percentages are higher in senior and Supportive Housing projects. 4 of the units, in the new construction project that we fund provide communication features. We also include a preference for persons with disabilities, in projects and consider reasonable accommodation as well. Funding for Housing Preservation is really important for protecting persons with disabilities who are living in existing housing that may be at risk of displacement due to the housing either being converted to market rate housing or falling into physical disrepair. The 600 milliondollar total for the bond is broken up into these five categories after a process where the mayor and board president , convened a Stakeholder Working Group process and had deliberated with Many Community members and stakeholders about how to proportion the many needs that we have for Affordable Housing. The consensus was to provide the following amount of funds in these categories. 150 million for Public Housing, 220 million for low Income Housing serving households up to 80 of the area median income. 60 million total for Affordable Housing preservation and middle Income Housing which serves very low income households at 30 of ami for the middle income portion at 175 of the area median income. A new category that was not included in the last bond specifically which is for Senior Housing. That would be 150 million for households up to 80 of area median income. Finally, 20 million to fund teacher housing serving educators from 30 up to 140 of the area median income. Im just going to talk a little bit about these categories why there is a need to fund Affordable Housing in these categories. Our Public Housing needs. The city has been committed to revitalizing our extremely dilapidated Public Housing through the hope program. We are at the remaining stage of revitalizing two additional sites which is at the sunnydale site. The funding that the bond would provide would be to address the emergency and life safety repairs that are needed for the existing units to rebuild and replace the housing remaining at those two sites. Also to add additional Housing Units at those two sites. And to really complete the work that we have begun to really revitalize the housing and infrastructure needs for these communities. The 150 million would be as an eligible use to go towards the repair and rebuilding of distressed Public Housing. Prioritizing sites that have these urgent capital needs, creating new Affordable Housing units and accelerating the construction timelines of these units because we know that the units are in a very poor physical condition. In terms of the low Income Housing category. We know low income households are most at risk of displacement here in San Francisco. These are populations that we want to house, and its really important for us to do that. We continue to need to build more Affordable Housing to meet the needs of households at these income levels. Unfortunately, we dont have the federal resources, they have been in decline for Affordable Housing for low income families. What this bond would do is enable 1,000 more units of Pipeline Projects to Start Construction in the next four years to serve residents that are seniors from homeless individuals, veterans and families. Also, while we await a decision on proxy funds tos tran07 funds. This funding will help kickstart predevelopment, for securing new sites for Supportive Housing. The 220 milliondollar in the low Income Housing would go toward the construction acquisition that we have permanently Affordable Housing that would serve individuals and families earning from zero up to 80 of the area median income. Prioritizing projects that are ready to Start Construction in the next four years. Which will include predevelopment funding to jumpStart Construction where we have permanent Supportive Housing. Projects that are close to public transit. Projects that can leverage additional funding whether through the state funding or other resources to leverage the city dollars that we are putting in. Also projects that are located in neighborhoods with limited Affordable Housing. In terms of the preservation need. We know there are extremely low, low, and moderate households that are at risk of being displaced from the city. Through our work, our small Faith Program and other preservation work its really critical that we acquire and preserve existing Affordable Housing so we are keeping low income and middle income households in in San Francisco. The bond would also go towards this need. We have an older stock of Affordable Housing that is in need of rehabilitation. The bond funding would go towards the need to rehab and existing stock of Affordable Housing that are in physical disrepair. 30 million for preservation under the bond would go towards the acquisition i rehab whether it is at risk, due to loss of affordability, or the buildings physical decline. We would be prioritizing. Buildings are at imminent risk of conversion to market to rate housing. We would look at neighborhoods prioritizing doing this work in neighborhoods where there are limited Affordable Housing production and also a documented high eviction or displacement rates. In terms of middle Income Housing. This is a group of households that we definitely want to serve. Unfortunately, the market does not produce housing for middle Income Housings houses. We are also we dont see Funding Sources to meet the need for building middle Income Housing. The city is a critical source of funding. We provide a critical source of funding for building middle Income Housing. Providing firsttime homeownership opportunities for low income households to be able to purchase a home and stay in San Francisco. We have an affordability gap in the bond would be helping with that. The 30 million for the middle Income Housing category would go towards the creation of new Affordable Housing opportunities for middle income households with assistance loans, purchases for building or land for new construction that would serve middle income households. We would prioritize down payment systems, loans for firsttime homebuyers and also we have a teacher next Door Grant Program that serves the San FranciscoUnified School District educators. This would be serving households between the 80175 and 200 of the ami. This new category of funding under the bond is for Senior Housing. The working group that was convened by the mayor and the board of supervisors identified this as a critical need as San Franciscos population continues to grow and age. We have found that we have not had the pipeline of projects serving senior households keeping up with the pace of the needs of a growing senior population and so it was a priority for the mayor and the board to include funding specifically as a category to meet housing for seniors. We have for that in the bonds, 150 million specifically for creating affordable senior rental housing through new construction and acquisition. We would be prioritizing projects that are ready, able to leverage Additional Resources and locate neighborhoods where there is opportunities for production for Senior Housing. This would be serving households between the extremely low to low income categories from 080 levels. And then finally, is a new category for funding under the bond that we do not see in the last cycle which is for educator housing. This is a critical need to, because we have seen attrition annually in the San FranciscoUnified School District where teachers are leaving because of housing affordability, thats one of the factors they have cited. We have seen through these surveys that the majority of teachers and para educators are saying that they have some level of difficulty, very difficult, or somewhat difficult ability to actually afford their housing costs. Including 69 of teachers surveyed, saying they pay more than 30 of their income towards their housing cost. We know retaining teachers in the school district, is really important for the stability of our students for the growth and success of our students. Addressing the Affordable Housing need for teachers or something that we wanted the bond to include. That is why there is a 20 milliondollar category in the bond for educator housing that would go towards predevelopment and construction of permanently affordable educator housing serving San FranciscoUnified School District and city college of San Francisco educators , and employees between the 30140 ami income levels. Similarly prioritizing the projects that i have mentioned before. With that, as i mentioned, the board of supervisors is moving the bond forward through the legislative process currently. We will soon be taking its last two votes to move the bond onto the ballot. We are really excited for that to happen. For us to have the opportunity to basically use this large amounts of critical funding that we need to advance our mission. Probably early spring of next year, we will start with the first issue is of the bond around 200 million and then be able to issue a notice of Funding Availability for projects to come forward and apply for funding. With that, i am happy to take any questions. Thank you for that excellent presentation. Do any Council Members comments or questions . Yes. Weve got sally, and councilmember madrid and councilmember sassouni. First of all, i apologize, i was supposed to send you a list of questions from the council and i realize i never did that. I appreciate your presentation. I have a very basic question. What is the ami in San Francisco the area median income, literally it is the median i know, what is the number . Let me pull it up for you. It is roughly 80,000 for a Single Person household. 82,900. That is for a one person household. It is adjusted for the size of the household. And then we can also calculate it at, you know, lower than that 100 and that higher ami. I can pull up the chart. I just wanted to get an idea of what 30 of ami actually was. When you Say Something is affordable, how is that defined . It is defined as 30 of that household income. Really . Okay. That would qualify someone for low Income Housing if they made 25,000 . In our low Income Housing category we have units that are between people who make a 0 of the ami, up to 80 of the ami. The affordable rent to would 30 of that household income. Our units are priced at a range of incomes between the zero and 80 low income households. The moderate income household level, we have done much less of the moderate Income Housing, because unfortunately we do not have other Funding Sources to really leverage for building this type of housing. For low Income Housing we have something called tax credits that we can use, and that is the 080 level. For middle Income Housing it is all city subsidy. We have done some, but very few of these units. The ones we have done we are looking at excuse me the 80 up to 120 of ami typically. We do have the down payment assistant loan program. That does serve up to 175 and 200 of ami. We have been meeting the needs of middle income households primarily through firsttime home loans. We have done some new construction housing for middle income households. Much less than we would like to. For the low Income Housing we are serving between 080 of the ami. It is assuming someone satisfies that low income statu . There has to be more people wanting housing. We use a lottery system. We have a great housing portal, we have counseling agencies. If someone cannot go on their smart phone or a computer to look at all of the listings we have on the site and apply they can also go to Housing Counseling Agency to help them with their Affordable Housing search and application. Through that housing portal, an applicant can look at what they, can apply. Redo the placement of those units, the occupancy of those units through a lottery system. The city also has something called housing preferences. This is mandated through our city laws. We have preferences for cop holders, people who were formally displaced from San Francisco do to redevelopment actions. In the western addition. We have a displaced tenant housing preference, this is a preference for people who have been evicted do to an eviction or fire. Then we have a neighborhood preference. If someone is applying for, a unit in a project. Helping residents to stay one that neighborhood. Finally we have a live work in San Francisco preference which captures the large segment of applicants. Through that lottery system, people that fit into these preferences are prioritized essentially. Okay, who is next . Alex. My question is, Affordable Housing, i know some of Affordable Housing is 15002500, speaking on people with disabilities, most of them receive ssi, does that consider qualify for those Affordable Housing . How would you, or the city fix that . Because, as you know, the city of San Francisco, when they are doing Affordable Housing the amount is already [inaudible] what i am understanding your question to be, is how do we meet the Affordable Housing needs of people who are extremely low income like with disabilities, or seniors who are on ssi and have limited income . That is a challenge we have been addressing. Typically in the Affordable Housing stock, what you see in our lotteries are units that are 30 affordable at what is priced , that is because of funding requirements we are seeing. With changes in rules of the tax credits, we are allowed to do income averaging. That might be more technical. But now we have this tool, when we are using tax credit financing for projects we can use this new option to provide basically income averaging an hour units. As long as projects are averaging 60 ami, we can do a range of units that serve less than 60 , up to 80 of ami. That wi