[applause] thank you, don, and thank you for being an amazing partner in the effort to acquire welding his all over the safety to keep them permanently affordable. Because we know that having Affordable Housing isnt just about new construction, it is about making sure that we preserve existing Affordable Housing, whether its property that we built under the old redevelopment agency, that are in disrepair, or its buildings like this where we are able to acquire it through our small sight Acquisition Program so that we can keep it permanently affordable. Those are the things that are necessary to make sure that San Francisco is a more affordable place for all san franciscans of all income levels. We have work to do, folks. The good news is that in this particular efforts, they basically kept their eyes open and saw that this was an Incredible Opportunity for the small sight Acquisition Program. In fact, even though we are celebrating 86 units here, we know that number one, we have almost we have acquired almost 300 unit so far through this program, theres another 110 in the pipeline, which is absolutely incredible. I am really excited about the future of this program, but a more excited about the 600 milliondollar Affordable Housing bond on the ballot this november. [applause] because it also provides us with an opportunity to acquire more property. I see randy shot in the back. Thank you for coming. We just open the doors to the bristol hotel. Another incredible site here in the tenderloin, and we will continue to do everything we can to ensure that our residents have a safe, affordable place to come home call home. Nothing makes you feel better than to have a roof over your head, to have that kind of security, to know that you will be able to afford to pay your rent. This is not just about acquiring this building, this is about providing a new home for formerly homeless families, it is about providing wraparound supportive services, because we want to not only house them, we want to keep them housed. We want to make sure that they have a thriving existence while they are living in their homes, so sometimes it is just more than a home, it involves making the place feel like home and creating the kind of community that we know we can when we acquire sites like this. So i am very excited because this is like my favorite thing to do, and i think that we need to spread the word more about so many great things that we are doing to ensure affordability for all of our residents in San Francisco, and so i would like to invite you up to say a few words. He is one of the new residents of this incredible establishment come on up and say a few words. [applause] okay, hello, everyone. My name is richard, and i live here at 270 turk street in this building. It is really nice, yeah. I come from cambodia, and i came here quickly and settled down in this building with my family and i feel comfortable. I am happy in this building. I have some people who are from cambodia that live here in the tenderloin, and i am so grateful for this building, for the new owners, for the tndc. Everything, you know, is close, everything. Im so happy, and i will i am comfortable to live in this building. Thank you for everyone coming for today. Thats all i have today. [applause] thank you so much. Thank you. Rebecca foster from the San FranciscoHousing Accelerator Fund. Thank you. Thank you so much. Stories like yours are why we all do this work. My name is rebecca foster, im the c. E. O. Of the San FranciscoHousing Accelerator Fund and we are a nonprofit housing fund that was formed by the Mayors Office and Community Stakeholders like many of you who are in the room. Our job is to innovate smart approaches to Housing Finance that put public, private and philanthropic money to work to fund Affordable Housing. We were created to support important and ambitious projects just like this one. We are a nonprofit developer like our awesome partners at tndc. We are working every day to protect Affordable Housing, but they dont always have the right funding when they need it. When tndc approached us with this project, we immediately understood its importance. A chance to save 86 units and protect 72 current residents in the heart of the tenderloin in an old, beautiful historic building. We knew that if these residents would be displaced, and many of them are longterm teachers, nurses assistance, technicians, restaurant workers, they would likely not find another home that they could afford in San Francisco. To purchase 270 turk, tndc needed 24 million. About 18 million to buy the building, which is still a lot, and about 6 million for improvements to ensure that the building continues to provide a very safe and healthy place for all of the residents to call home. Our partners in the Mayors Office and the great team there will be able to come through with a longterm with the longterm funding for this building, but they didnt have the funds ready in 60 days at tndc needed to compete with market rate buyers to save this building. Deals that are over 10 million are often nonstarters for most lenders, but at the Housing Accelerator Fund, we pride ourselves in being a creative and flexible lender, and even for us, 24 million is very significant, but we knew how important this was, his we rolled up our sleeves and sprinted to raise 50 million in Additional Capital in a few months, working with the Mayors Office, and then working with the Mayors Office tndc and the department for housing for homelessness and Supportive Housing where we structure the partnership that the mayor referenced that is really the first of its kind so that we cannot only prevent the displacement of the current residents here, would also open up 24 units over the next few years so that individuals currently experiencing homelessness can also have really Quality Homes in this building. And not only is that the right thing to do and an amazing way to use the money, it also helped be the piece of the puzzle that helps the financial issue work. We are thrilled that we could step into support tndc and work with the Mayors Office of housing and Community Development to get this project across the finish line. This is really hard work. Deals like this happened really quickly and other small sights projects and they require very significant Capital Resources and a high level of collaboration and creativity and persistence, which is exactly why mayor breed continues to bring together such diverse coalitions of funders like ours to support muchneeded preservation of Affordable Housing. Some of those partners are here. Partners lake city Community Development, thank you, dignity health, the San Francisco foundation, just recently the Betty Ferguson foundation, and Tipping Point communities. We cant do this work without all of those partners, and that we have been able to over the last two years deploy 100 million to enable the preservation and construction of 417 permanently affordable deals permanently affordable units. A very complicated transaction, but like this one at the barcelona apartment projects that are way too important to walk away from. To keep it critical, we are working with the mayor to raise 50 million more in philanthropic and mission aligned capital so when Nonprofit Developers like tndc and the city need a trusted partner for the comp looks project like this, we can continue to stand at the ready. Thank you. [applause] think, rebecca. Thank you, mayor, for your partnership. I want to close with a few observations about why this is so important to tndc and to our community and the tenderloin. The tenderloin, like so much of San Francisco, is gentrifying, and there has been a longstanding fear dating back to the seventies that the tenderloin would someday not to be affordable to people with low incomes. When we buy a property like 270 turk street, one of the things that is really important about it is the fact that it is no longer owned by a forprofit. I want to break that down a little bit in terms of the way rent control works in San Francisco. Of course, under rent control, rent can only go up so much for an existing tenant, however, when a tenant voluntarily vacates, not is displaced, voluntarily vacates, that units rent can float up to market. That means that the next occupant will be higher income household. One can see that when one looks at the rent roll of barcelona apartments, and 80 or so people who live here, the people who moved in recently are paying a lot more rent than the people who moved in ten or 15 or 20 years ago. The key for us is that, number one, tndc can consider we consider ourselves forever owners, so we intend to own this property in perpetuity, and when somebody moves out voluntarily, we wont raise the rent to market. We will essentially freeze the rents and the incomes of the People Living here now for future occupants for generations so over time, this will become more and more and more Affordable Housing. It is a key part of the strategy of the tenderloin housing clinic , the tndc, and a lot of groups here to keep the tenderloin affordable for a group of people with low income. With that, we have a unit open on the seventh floor and i want to welcome people to go open go up to see it. I dont know if you want to take questions, mayor, or if anyone wants to comment. No. Okay. Thank you so much. I really appreciate your being here. Thank you for joining us, mayor. [applause] my apartment burned down 1. 5 years ago in noba. My name is leslie mccray, and i am in outside beauty sales. I have lived in this neighborhood since august of this year. After my fire in my apartment and losing everything, the red cross gave us a list of agencies in the city to reach out to and find out about various programs that could help us get back on our feet, and i signed up for the below market rate program, got my certificate, and started applying and won the housing lottery. This particular building was brandnew, and really, this is the one that i wanted out of everything i applied for. And i came to the open house here, and there were literally hundreds of people looking at the building. And i in my mind, i was, like, how am i ever going to possibly win this . And i did. And when you get that notice that you want, its surreal, and you dont really believe it, and then it sinks in, yeah, i can have it, and im finally good to go; i can stay. My favorite thing about my home, although i miss the charm about the old victorian is everything is brandnew. Its beautiful. My kitchen is amazing. Ive really started to enjoy cooking. I really love that we have a gym onsite. I work out four days a week, and its beautiful working outlooking out over the courtyard that i get to look at. It was hard work to get to the other side, but its well worth it. Im super grateful to the Mayors Office of housing for having this for us. All right. Good morning, everybody. Is this working . What a Beautiful Day in San Francisco. You know, if you go to city hall, it is so packed. Everybody is celebrating 88. Were here and going to be celebrating this new project. I am the director of public works here at the city of San Francisco. I want to thank you all for coming out our chief and mayor for coming to celebrate this milestone. This facility will be a facility that will serve our First Responders and we are very excited about it. Just last week around the corner we celebrated the new deployment facility and that is a project that will be completed in 2021. That project also is going really well. Then today we are celebrating another Capital Infrastructure project here in the bayview. This job is not only about serving our First Responders, but will also give a lot of people from the community jobs. It will be able to give a lot of our contractors an opportunity to participate in bringing supplies. Of course make our city more resilient. Its also been one of several projects that the southeast sector of our city has been benefitting from. Just in the last two years or so we finished the medical examiners building, the two shops for large and small vehicles are right around the corner. Coming up soon is the new Southeast Community center. So a lot of good opportunities here, and its great that the partnership that we have with all the contractors and all the city departments, that were all working together to really improve San Francisco. As you all know, today is very, very special because its the Traffic Company and Forensic Services division that will be in this site. The building itself is going to be over 100,000 square feet and 100,000 square feet is huge. Its two storeys as you can see. More than three quarters of this lot will be a building with a twostorey building. Were invited about that. Inside the building will be many labs that would be used to help solve crimes. Also our Motorcycle Police department, they will have their vehicles here but well also have offices for them so that they can do their administrative duties, which is highly essential because now theyre spread all over the place. This building will change that. This building will also be a hightech building. Our crews have been working very hard. As you see this pile of dirt behind us, right after this ground breaking, next week well be levelling it out. All that dirt actually is going to be on site here. This area is a little bit of a low land, so were going to be increasing it by 2 or 3 feet high. So were keeping the dirt. Were recycling. As you know, our city leads the nation in recycling. Were following a lot of the building technologies. With that said, the team that has been working on this, i would like to say a huge thanks to clark construction, our architects, h. O. K. And m. I. I. Have been on this contract. Some of our subcontractors, i just want to say thank you because this new facility will make San Francisco much safer and put us into the 21st century building. Isnt that a great opportunity . [ applause ]. I can theres a lot i can say because im excited about this building because i personally have worked in this area for over 30 years. The Public Works Department yard is just up the street. So every day we see these changes. Were very excited. In the capital plan the mayor is putting money for us to look at more opportunities to do more projects here. With that said, i would like to call her to say a few words and thank her for our leadership. Our city is changing in the right direction. Lets call mayor breed and give her a big hand. Mayor breed. [ applause ]. Mayor breed thank you. Mohamed is really excited about this project, isnt he . Hes always excited about projects that move the city forward in the right direction. San francisco is in earthquake territory. And its not a matter of if but when the next big one will be prepared. So we have to be prepared. More importantly, we have to make sure that our Public Safety officials are in seismically safe facilities so that when theyre trying to help the citizens of San Francisco, they dont necessarily need help themselves. We know that the Traffic Division and the Forensic Services division are located in buildings that are not seismically safe. Especially with the Traffic Division and motorcycles and their need to get to people and help protect people throughout San Francisco, thats going to be critical. If we have a next earthquake and something happens, how are they going to get their motorcycles out . We have to start thinking about the future and ways to protect all of our citizens, especially making sure that our Public Safety officials from the police and the Fire Department and other departments can get out there on the streets and protect and save lives. This project, along with so many other amazing projects that weve done in this city, were headed in the right direction. The new Public Safety building that just opened in mission bay is absolutely incredible. The medical examiner building that just open not too far from here is amazing. Station 49, the firefighters are going to get a new stateoftheart building. We just cut the ribbon on station 5 and 21 for the Fire Department to make sure that our First Responders have seismically safe buildings that are just really out