Ive started preliminary discussions as to what it would cost should we decide to lease the tenth floor for the remainder of our lease here in this building, which runs through 2024, and that would be a way for us to have the space that we need as we go forward into the next two budget years. And so that is a 630,000 allocation. Thats just an estimate from the building as to what they would charge us to rent that space. That rate is based on what they most recently negotiated with the city with the law library, and it is higher than what were sitting at today. But the rules say they would have the same term of the lease. Were paying 44 a square foot for the space we have in this building, but that was a lease we entered into back in 2014. This represents roughly 60 a square foot for the Additional Space on the 10th floor. And with that, i would be happy to answer any questions. Questions . Comments . I have a couple comment questions okay. I take it that finance committee went through all this stuff already and voted with or without any changes . Right, with no, there was no there was no finance committee. No. Okay. You guys didnt talk about it. No. Theres been no theres been no operations over we dont have a finance committee anymore. Well, whatever the name of the committee is, not meant to have this. I mean, this is being okay. If you didnt meet, you didnt meet. First observation, the plan increase in the deferred compensation program, basically, by hiring another person, thats great. It was done without increasing fees. Theres an important things, since the members do Pay Attention to the fees that they are paying. Secondly, you made the statement about its the 9 million reduction in fees in the investment division. The way the budget works, and how the cash flow works, that number may be true, but our overall fees are not really going down. Budgeted fees are. But only because we have to do other fee reporting, and how weve decided to hire managers with higher fees and other performances, how thats done, the way they are structured, it doesnt show up as a cash flow from us, but in fact it affects our net performance. I just want to get what you said not to be misinterpreted. And certainly, we did not reduce the Investment Management fees to go forward. I think its great to say, you know, this represents overall, you know, over a 6 reduction in approved budget from last year, but weve always left probably 20 to 25 million in Investment Management fees in the trust as unexpended probably on an ongoing basis, but we have to budget for it in the event that assets grow or we change manager. But people who say the fees, hey, they went up, not down, when we thought they would go down. We report out every year in our annual report what our actual investment expenses were, meaning expenditures versus budget. We dont show that necessarily in the annual report, but we report, like you say, did the fees that we paid for Investment Management go up from year to year . That is part of the annual report that will be coming to you, i believe, next month, so you can see that on the only financial statement. Well, then how do we report fees in a commingled fund where theyre not taken off the top . Well, a budget doesnt include any payment. The budget is just for invoices that we receive that we have to process. Right. And so youre absolutely right, on the private equities side, on commingled investments, that is not even part of the budget because thats not something that we have to pay via an invoice. Yeah. I just want to make it clear so people dont think were hiding or misrepresenting how the fees work. Right. Part two, its not on the budget, but the issue on rent in this building, please try to find from the august 2014 memo about real estate. Well write out plans for this. President driscoll, this is probably a very limited shortterm chance for us to say yes, were interested in the 10th floor. Well no well, but what im saying is otherwise, were going to be looking for space as we grow in another building. As much as we dont want to increase our presentation here in this neighborhood or in this building, i think from a practical perspective, we have to plan for it. Yeah. We thought about not doing it. I just reminded you to ask for the memo. Thats what this is about. Okay . Thank you. Ive shown you the august memo, but there was never follow up on that. It wasnt done well, no, it was a follow up in an april meeting in a report from art wong related to his idea of what resources we needed to go forward to purchase our own building, so there was a report out to the board, but not as a separate board information. Ill be happy to provide it to you. Okay. Well follow up on that. I didnt mean to take us off the budget issue. Any further discussion . Does this require action . So moved. Motion made by commissioner casciato. Is there a second . Ill second. Public comment . If mr. Huish wants more office space, why dont you purchase a building . If you purchased a building, it would have doubled in value by now, and the average rate of retain would be 50 . Whats your average rate of return in hedge funds or real estate . No further Public Comment, all those in favor say aye. Opposed . Next . Item 25, discussion item. Educational presentation on fiduciary duties, part 11, practice. I would propose we continue this. The important of the okay. Can you continue this item . Can we continue this to the meeting next week . No, theres a full agenda, i believe, for the retreat, is that correct, president driscoll . Okay. Im sorry. I asked. Well do it for the march meeting. Okay. Calendar it for the march meeting. Hopefully, it wont be as long of a meeting. Although it is the performance report. Well have a garage closure in a few minutes across the street. Yeah. Other than that, executive directors report. I presented the december dashboard. Reminder that the retreat is next wednesday, starting at noon, at nossamans office. I have to remind you that your form 700 and ethics training is due this year by april 1, 2020. Also, i would like to say that darlene has already emailed you or will email you tomorrow related to the harassment prevention training that is mandatory that all of us complete, and i believe that completion day is april 10 of this year. So its roughly a twohour i think they require you to stay online for two hours. So its a twohour online course, and the link that carlene sends to darlene sends to you will provide the link to get in. I wanted to provide the update on the coronavirus or covid virus, but basically, weve suspended all travel, Business Travel to china until further noti notice. We are also asking if we have meetings with manager, that we get assurances that none of the folks that will be onsite will have travelled to china within the last 30 days, and that we are encouraging staff to conduct their Due Diligence via skype, zoom, or facetime for the time being until we have more information. And then, there was one other thing, but i forgot oh, a request to attend conferences where theres going to be a large group of folks that will be considered on a onebyone basis to make sure that if it appears there would be a risk of exposure, we might ask people not to go to those conferences. But we have folks here in the department who are expecting children and have, you know, sensitive aging systems, so were trying to be cautious, and these are in line with the guidelines of the city that have evolved as weve gotten more information. But weve been dealing with this for, like, two or three weeks, and i think it should be in your consideration also as you approach conferences you might want to attend. We wont pay for travel to china, so youll be on your own for that. You just popped the idea in my head. Could we get a nice certificate and go to all the staff that have had children while theyre working, a nice certificate that says thank you for coming to work with your mom or something. Oh, while theyre pregnant . Yeah. Some have had two children, so youll need two or three certificates. [inaudible] well, its been frustrating because as weve called the city and d. P. H. , they were not prepared. We thought they would have to be prepared for the plane load of folks, the embassy folks at s. F. O. , but the message is were open for business and we cant restrict people from coming to work. All we can do is encourage them to stay home if theyre showing any symptoms. Again, from our perspective, we have plenty of managers who want to meet with us who might be from china or might have been traveling in china. The date is february 3. Somehow, thats a magical dat anyone who had been there in the last 30 days, before february 3. Hopefully, everybody understands. We posted the signs all over the building, please make sure you wash your hands often. Thats sort of all the information weve gotten from the city actually. Thats all i have. Okay. That report is a discussion item only. Public comment . Motion to adjourn is in order. So moved. Second . Second. All in favor say aye. Meetings adjourned. Thank you very much. Valencia has been a constantly evolving roadway. The first bike lanes were striped in 1999, and today is the major north and south bike route from the Mission Neighborhood extending from market to mission street. It is difficult to navigate lindsay on a daily basis, and more specifically, during the morning and evening commute hours. From 2012 to 2016, there were 260 collisions on valencia and 46 of those were between vehicles and bikes. The mayor shows great leadership and she knew of the long history of collisions and the real necessity for safety improvements on the streets, so she actually directed m. T. A. To put a pilot of protected bike lanes from market to 15th on valencia street within four months time. [ ] valencia is one of the most used north south bike routes in San Francisco. It has over 2100 cyclists on an average weekday. We promote bicycles for everyday transportation of the coalition. Valencia is our mission fits our mission perfectly. Our members fall 20 years ago to get the first bike lane stripes. Whether you are going there for restaurants, nightlife, you know , people are commuting up and down every single day. I have been biking down the valencia street corridor for about a decade. During that time, i have seen the emergence of ridesharing companies. We have people on bikes, we have people on bike share, scooters, we have people delivering food and we have uber taking folks to concerts at night. One of the main goals of the project was to improve the overall safety of the corridor, will also looking for opportunities to upgrade the bikeway. The most common collision that happens on valencia is actually due to double parking in the bike lane, specifically during, which is where a driver opens the door unexpectedly. We kept all the passengers the passenger levels out, which is the white crib that we see, we double the amount of commercial curbs that you see out here. Most people arent actually perking on valencia, they just need to get dropped off or pick something up. Half of the commercial loading zones are actually after 6 00 p. M. , so could be used for fiveminute loading later into the evening to provide more opportunities or passenger and commercial loading. The five minute loading zone may help in this situation, but they are not along the corridor where we need them to be. One of the most unique aspects of the valencia pilot is on the block between 14th street. We worked with a pretty big mix of people on valencia. On this lot, there are a few schools. All these different groups had concerns about the safety of students crossing the protected bikeway whether they are being dropped off or picked up in the morning or afternoon. To address those concerns, we installed concrete loading islands with railings railings that channel channeled a designated crossing plane. We had a lot of conversations around how do you load and unload kids in the mornings and the afternoons . I do like the visibility of some of the design, the safety aspects of the boarding pilot for the school. We have painted continental crosswalks, as well as a yield piece which indicates a cyclist to give the rightofway so they can cross the roadway. This is probably one of the most unique features. During the planning phase, the m. T. A. Came out with three alternatives for the long term project. One is parking protected, which we see with the pilot, they also imagined a valencia street where we have two bike lanes next to one another against one side of the street. A twoway bikeway. The third option is a Center Running twoway bikeway, c. Would have the two bike lanes running down the center with protection on either side. Earlier, there werent any enter lane designs in San Francisco, but i think it will be a great opportunity for San Francisco to take the lead on that do so the innovative and different, something that doesnt exist already. With all three concepts for valencias longterm improvement , theres a number of tradeoffs ranging from parking, or what needs to be done at the intersection for signal infrastructure. When he think about extending this pilot or this still this design, theres a lot of different design challenges, as well as challenges when it comes to doing outreach and making sure that you are reaching out to everyone in the community. The pilot is great. It is a nobrainer. It is also a teaser for us. Once a pilot ends, we have thrown back into the chaos of valencia street. What were trying to do is incremental improvement along the corridor door. The Pilot Project is one of our first major improvements. We will do an initial valuation in the spring just to get a glimpse of what is happening out here on the roadway, and to make any adjustments to the pilot as needed. This fall, we will do a more robust evaluation. By spring of 2020, we will have recommendations about longterm improvements. I appreciate the pilot and how quickly it went in and was built, especially with the Community Workshops associated with it, i really appreciated that opportunity to give input. We want to see valencia become a really welcoming and comfortable neighborhood street for everyone, all ages and abilities. Theres a lot of benefits to protected bike lanes on valencia , it is not just for cyclists. We will see way more people biking, more people walking, we are just going to create a really friendly neighborhood street. [ ] mayor breed thank you. Welcome to chinatown. Thank you, supervisor peskin to allowing us to come and hang out with you today. I am San Francisco mayor london breed here with many members of the board of supervisors, state officials, sf travel, wow, a lot of people here. We all know that one of the Biggest Challenges that we are facing not just here in San Francisco but in this country and throughout the world is the threat of the coronavirus and how it has not only impacted people and Public Health but how it has, unfortunately, impacted our economy. When we first heard of this virus in january we launched the Emergency Operations center. What we noticed during that time and supervisor peskin can attest to this. We didnt get support and people visiting our community in chinatown and other places and as we can see as this develops, this virus is not discriminating based on race. This is impacting people all over the world and has impacted a number of people right here in San Francisco. As of today we are up to 14 cases. I am really proud of the work that has been done with the department of Public Health to be proactive and making sure that we are prepared and making sure that we keep people healthy and safe and looking at the vulnerable communities, seniors and people with illnesses answer challenges and providing resources and support and being aware we have a vulnerable Homeless Population and making sure we have places for people to be quanteened and in case there is a situation that we as the city we are prepared to handle it. I want to be clear we cant live in fear. We have to make sure we are doing everything to keep ourselves, our families, our communities safe but we also have to make sure that we are addressing some of the other challenges that have happened as a result of this issue. That brings us to the economy. We are definitely going to feel impact. We are in china town because we know the businesses in this community have probably felt the impact, the Economic Impact more than any other community in San Francisco. We have been working together, my office and the state and, as i said, a number of the board of supervisors, we have worked together to come up with a number of immediate things to do now. We will be coming back with other things that we can definitely do in the future. We want to provide immediate relief to our Small Businesses. I wanted to make an announcement today about some of those things that we plan to do. Working with our treasurer and other City Departments, we have been able to identify a number of ways that the city can provide immediate assistance to Small Business. To begin with, we are allowing Small Businesses to defer the next round of Quarterly Business taxes to next year in february of 2021. I know that is going to provide significant relief for Small Businesses. We will also be delaying a collection of our unified license bill for at least three months. These bills include charges for restaurants, food trucks, bakeries and smal small busines. Our time is to delay those fees. We are actively looking at other ways to delay more fees for our Small Businesses as they deal with this challenge. We also understand that our communitybased organizations or nonprofits wonder what is going to happen to us and our work forces specially those who may stay home to care for a child or sick parent with no sick leave. We will work to make sure all communitybased nonprofits that receive funding from the city continue to receive that funding. We want to make sure that you know that i