Before meeting of august 17, 2023. At this time. Hey, just give me one second here. Get me organized. Im doing my survey. All right. Okay welcome, everyone. Thank you for all the participation on the board level and im madam secretary. Do you want to call the roll, please . Thank you, commissioner. Commissioner connor. Present mr. Thomas. Present. Present. Helfen. Present mr. Driscoll. Here mr. Gandhi. Present commissioner bridges and commissioner servais is not in attendance today. We do have a quorum right. Thank you. Can i ask you, madam secretary, to turn your volume up a little . Can you do that . Its sort of. Is that better . Better better. Item number two, communications. We welcome the publics participation during Public Comment periods. There will be an opportunity for general Public Comment at this meeting after closed session and there will be an opportunity to comment on each discussion or action item on the agenda. Each item each comment is limited to two minutes. Public comment will be taken both in person and remotely by calling for each item, the board will take Public Comment first. People attending the meeting in person and then from people attending the meeting remotely. Comments or opportunities to speak during the Public Comment period are available by phone by calling. 56550001. Access. Code 26605203021. Then pound, then pound again when connected you will hear the meeting discussion. But you will be muted and in listening mode only your item of interest comes up. Press star three to add to this speaker Line Best Practices are to call from a quiet location. Speak clearly and slowly then turn down your tv or radio. Please note that city policies, along with federal, state and local law, prohibit discriminatory or harassing conduct against City Employees and others during Public Meetings and will not be tolerated. Moreover, Public Comment is permitted only on matters within the jurisdiction of this meeting body. We thank you for joining us. Thank you, madam secretary. Will you call the next item . Item number three closed session at this time, the board will be moving into closed session. Item number three, fiscal year 20 2324. Ceo and cio performance evaluation. Okay were going to call for a Public Comment before we close. Thank you. We have no inperson Public Comment on this item. Callers, you have not already done so please press star three to be added to the queue. Moderator do we have any callers on the line . Madam secretary, we have no callers on the line. Thank you. Hearing no calls, Public Comment is now closed. Okay. Can i ask everyone to please enter the closed session and do we have a time that were going to estimate well be back in. Gov of tv, San Francisco government television. We. Commissioner bridges. Mr. Driscoll president. Mr. Gandhi. Present present. President. Fund. Present mr. Oconnor. Present and commissioner thomas. Present. A quorum is present. Right thank you. A motions in order for vote. Whether we disclose discussions held in closed session. Ill move not to disclose contents of closed session. Second, its a motion thats been made by president thomas. Commissioner thomas and seconded by commissioner driscoll to call for a Public Comment. Madam secretary. Thank you. We have no inperson Public Comment on this item. A reminder to callers to press star three to be added to the queue. Moderator do we have any callers on the line . Madam secretary, we have no callers on the line. Thank you. Hearing no calls. Public comment is now closed. Thank you. Do you want to call for police. To vote. A we havent voted. So all the emotion, its been made right. Weve been made those in person on the script. I dont. Okay motions been made by commissioner thomas and seconded by commissioner driscoll. All those in favor . Those opposed . Nay nay. Motion passes. Next item, please. Thank you. Item number four, general Public Comment. Do you want to call for a Public Comment . Madam secretary . Do we have inperson Public Comment . Any we could step up to the audience here. We have what, three or Public Comment. Morning my name is jordan. Fine. Im a lead Research Analyst with unite here local 11, which represents 32,000 hotel and Food Service Workers in Southern California and arizona, will be addressing the board today regarding offers investment manager Blackstone Group. Your fund has invested 150 million in Blackstone Real Estate partners. Eight the owner of the fairfield inn aloft hotels by lax airport and 100 million in blackstone. Real estate partners nine, which is the owner of the sheraton phenix hotel, contracts at all three hotels expired on june 30th, and workers at the fairfield in aloft went on strike in july to fight for family sustaining wages, affordable benefits and a safe and humane workload. Theres also an escalating labor dispute at the sheraton phenix as workers fight for a fair contract, they have Unaffordable Health insurance and a 401. Retirement instead of a defined benefit plan like spheeris and many other blackstone investors in response to strikes by employees at the fairfield and aloft the hotels brought in workers from a Third Party Agency to try to break the strike outrageously, these hotels have employed very few African American workers among their permanent unionized staff. In spite of the unions demands for more diversity and hiring. Yet when in need of strikebreakers, they were somehow able to find and hire a number of black workers, but only as temporary agency employees. We request that add an information agenda item to the upcoming september meeting concerning spheeris investments and blackstone managed limited partnerships and asked that the fund not reinvest with blackstone until the contract disputes are resolved and blackstone can guarantee labor peace at its hospitality investments. And the company demonstrates inclusive hiring practices, including with respect to African American workers. Were going to have some other speakers and laura will translate for them. Wednesday numbers. Graciela navarro, trabajo para trabajadores durante anos de housekeeping in a Hotel Sheraton del centro de phenix motel is propiedad con dinero de sus fondos gracias por escuchar. Mr. Good morning. My name is Graciela Navarro and i work. Ive worked for 14 years as a housekeeper at the Sheraton Hotel in downtown phenix. My hotel is owned by blackstone with money from your fund. So thank you for listening to my story. The principles assistant de mi familia porque me esposa se informa as varios anos tuvieron carrion plaza en el otro mas de se cientos dollars durante cuatro anos porque el Segundo Seguro de la hotel de serato era demasiado caro incluyendo tuvimos vender nuestros pagar. I am 70, 72 years old and im the primary breadwinner of my family because my husband got sick several years ago, he had to have his kidneys replaced in 2018 and we were paying over 600 per month for medicaid for four years because the Sheraton Hotel insurance was too expensive. We even had to sell our car to pay medical bills. So ensenada cuando hotel. Okay okay, ill recuperar el trabajo. Pero voy one per porque al regresar. No no, quieren dar trenta arbitrations para limpia las habitacion mas diferentes the limpia porque el hotel. After the pandemic. I was excited when the hotel reopened and i got my job back. But it was even worse than before. They tried to give us 30 rooms to clean and the rooms were harder to clean because as theyd renovated the hotel, the trabajo se agua mucho mas dificil pero despues de trabajo solamente de la hora tengo pagar mil cientos dollars de los estan viviendo. The check and check in. No, no tengo una Buena Calidad de vida. The workload has gotten much harder. But after 14 years working there , i make only 17 per hour per month. I have to pay 1,100 for my mortgage and 300 for electricity. And im living paycheck to paycheck and i do not have a good quality of life. Second remaining estoy con con despues de trabajar no nos yaman el corazon de la otra pero no stratum como se for more on los pues. I am exhausted and in pain after work they call us the heart of the hotel, but they treat us like were the feet. You know who we como lo los miembros de de su fondo pero el hotel. No tiene un una pensione Seguro Social no pagar los officiant asi tengo seguir trabajando. I want to retire like the members of your fund. But the hotel doesnt have a pension and Social Security wont pay me enough, so im still working. Thank you. Next. Next so its a company. The grand de nuestro de nuestro grand. And mr. De Nuestro Mundo con un trillion puede permitir panos de manera justa darle atencion medica asi lanza e processor un pension por favor de nos ayuda por rectum. Black blackstone is the largest Investment Company in the world, with 1 trillion. They can afford to pay us fairly, give us Affordable Health care and provide a pension. Please tell them to do the right thing. Thank you. Buenos dias, mi nombre de Rosalba Sanchez de domestika. Uno de los dias. Me estoy a hacer cuando la jubilation pero tengo trabajando porque no tengo una pension. You know, suficiente como para pagar la renta yara para la jubilation. My name is Rosalba Sanchez, and ive been a housekeeping worker at the Sheraton Hotel since 2010. Im approaching retirement age, but i have to keep working because i dont have a pension and dont earn enough money to both pay for rent and save for retirement. An el costo de la vivienda may fuerte la casa durante anos de se siento. 70. The rising cost of housing has hit me extremely hard. The home i rented for years at around 600 a month was suddenly sold. Desde pago cientos de la de un mesa estado casillas tres quarters parte de ingresos en renta. I now rent an apartment where i pay 1,200 in rent by myself for one month from one month to the next. My rent doubled and i have i have to spend nearly three fourths of my income on rent. The incluso comprar comida puede ser un desafio educational saltado comida y quedado sin comida porque no habia suficiente dinero ing even buying food can be a challenge. And i have occasionally skipped meals and gone without food because there wasnt enough money. Reducir mis gastos no puedo viajar, no puedo tomar vacations, no puedo hacer ninguna actividad brinda alegria. Ive had to reduce my other expenses cause i cant travel, cant take vacations and cant do any leisure activities that bring me joy. Trabajando toda mi vida tengo muchas ganas pero no se cuando poder porque no tengo dinero, no tengo una pension. Ive worked my whole life and im looking forward to retirement. But i dont know when i can ever retire because i dont have money saved and i do not have a pension. Tanto trabajando para una empresa tan rica estoy lista para por lo. Vamos ganado blackstone firme un contrato justo para nosotros. I should not have to struggle so much working for such a rich company. Im ready to fight for what i deserve and i wont stop until weve won. Please tell blackstone to settle a fair contract for us. Thank you. Morning, commissioners. My name is on and sing. Im the president of unite here local two. Were the union of over 15,000 hospital workers here in San Francisco, San Mateo County , and in the east and the north bay. 2500 of our members of local. Two members from seven hotels went out on strike against the Marriott Corporation for over two months back in 2018, San Francisco city and county officials in that time supported our members. They were fighting for the same things that the two women you just heard from were fighting for basic necessities for working people, things like living wages, Affordable Health care, retirement benefits, a safe and humane workload. We were successful. We want a transformative contract for our members. At the end of that strike and workers returned to their jobs. Let me just say that we may be a different local union here in San Francisco, but there is no space between our organizations and attack on the workers. We just heard from is akin to an attack on San FranciscoHotel Workers. And we treat it in that way. And so were asking for your fund support because, hey, its the right thing to do. And i challenge anyone who just heard their stories not to believe that. But this fund also has a fiduciary responsibility to mitigate the risks associated with strikes, boycotts and picket lines. Many of blackstones Hotel Workers are living in poverty. Theyre unable to afford the rising cost of housing and basic necessities. And in 2019, the United Nations special rapporteur on the right to adequate housing accused blackstone of exploiting tenants, wreaking havoc in communities and helping to fuel a Global Housing crisis. So we requested the fund add an information agenda item to the upcoming september meeting. Concern your investments in blackstone, manage limited partnerships and ask the fund not to reinvest with blackstone until the contract disputes are resolved. And blackstone can guarantee labor peace at its hospitality investment. So thank you very much for your time. Good morning. My name is laura perez and im an organizer with unite here, local 11, based in arizona. As you heard from rosalba workers at blackstone owned hotels are asking for living wages, Affordable Health care and a safe and humane workload. In july, black stone became the first 1 trillion private equity manager. Yet many workers at its hotels still live in poverty. Blackstones usage of African American strike breakers at the aloft and Fairfield Hotels has also generated concerns from clergy. On july 18th, passed pastor william smart, president and ceo of the Southern California, our southern christian Leadership Conference of Southern California, wrote to a loft in Fairfield Hotel management and blackstone executives expressing, quote, profound concern about your companys commitment to decent labor practices and inclusivity and requesting a meeting to discuss how the hotels can demonstrate respect for the workers they employ and the communities in which they operate. It is particularly concerning that Blackstone Group continues to confront labor concerns given that blackstone owned Packer Sanitation Services inc paid a 1. 5 million fine in february for employing more than 100 teenagers in jobs at meatpacking plants in eight states through a Blackstone Fund affiliated with sfr ers. The children reported worked overnight shifts and use hazardous chemicals to clean dangerous Meat Processing equipment such as briskets sores. 30s remaining. We request that sfrs add an ad, add an information agenda item to the upcoming september meeting concerning learning as a First Investment in blackstone managed limited partnerships and we ask that as staffers not reinvent it with blackstone until the contract disputes are resolved and blackstone can guarantee labor peace as at its Southern California and arizona, hospitality investors. Thank you. Thank you. A reminder to callers to press star three to be added to the queue for those already on hold, please continue to wait until the system indicate you have been unmuted. Moderator do we have any callers on the line . Madam secretary, we have no callers on the line. Thank you. Hearing no calls, Public Comment is now closed. Thank you. Thank you for the presentations. Madam secretary, do you want to call it item number five, please . Yes. Item number five, action item. Approval of the minutes of the july 2023 retirement Board Meeting. I move adoption of the minutes as submitted. Thank you. Is there a second . Second. Great so its motions been made by commissioner chris and seconded by commissioner thomas. Any Public Comment, madam secretary . We have no inperson Public Comment. Callers. And reminder to press star three to be added to the queue. Moderator do we have any callers on the line . Madam secretary, we have no callers on the line. Thank you. Hearing no calls, Public Comment is now cl