Commissioner breed commissioner cohen marry no presents commissioner farrell commissioner fewer commissioner kim not present commissioner peskin commissioner ronen not present commissioner safai commissioner sheehy not present commissioner tang commissioner yee madam chair we have quorum. Thank you, ladies and gentlemen, please join me in the pledge of allegiance and to the republic for which it stands, one nation under god, indivisible, with liberty and justice for all. Thank you m any communications. I have none to report madam president and colleagues any changes to the approval of the january 24, 2017, and january 31, 2017, Board Meeting minutes. Seeing none, is it a motion to approve those minutes moved by commissioner tang and seconded by commissioner kim colleagues well take that without objection. Overseeing Meeting Minutes will be passed after Public Comment. Next item. On one on one an ordinance to on one an ordinance to general plan amendment commerce and industry element; guidelines for eating and drinking establishments. Commissioner fewer thank you, president i wanted to mention that i voted no on the First Reading because of lack of outreach from the merchant to the Planning Department and havent heard anything to the contrary i think i can support this today. Thank you commissioner fewer seeing no other names on the roster, on the item madam clerk madam clerk, please call the roll. On one commissioner safai commissioner sheehy commissioner tang commissioner yee commissioner breed commissioner cohen commissioner farrell commissioner fewer nay commissioner kim no commissioner peskin no commissioner ronen there are 8 is and commissioner fewer and commissioner cohens and in the descent item is finally passed important item 2 planning code, zoning map upper Market Street districts. Reclassify from the mcd to the upper Market Street commercial transit mcd to rise sections of article 4 for the entirety of ucht including outside of market octavia to affirm the ceqa detections e detectors and make the appropriate mdz. Respectfully. Commissioner safai commissioner sheehy commissioner tang commissioner yee commissioner breed commissioner cohen commissioner farrell commissioner fewer commissioner kim commissioner peskin expelling last year 11 is. The ordinance has finally passed unanimously item 3 administrative code Affordable Housing cashout proceeds restriction. Port in whole or to a verdict fund had been used for residential and the creation and preservation of Affordable Housing. Commissioner farrell you thank you commissioner breed we continue to meet with should the developers and work with the City Attorneys Office on the revised legislation i ask we continue is one more week i last week to make a motion. Commissioner farrell has made a motion to continue to march 21st and seconded by well take that without objection. Well take that without objection. This item will be continued to the meeting of march 27. Item 4 administrative code amending local hiring policy to set percentages. To a new Chapter Eight 2 to set the levels for a project work hours at thirty percent for all projects 2 to 3 clarify the language language for application outside of San Francisco and change the due date from march first to april 1st with other clarifying conditions. Commissioner fewer thank you leagues ive been a strong supporter and continue to be a passionate bleefrl we need to make sure our local shivers one the best tools in reducing unemployment of the population ever africanamericans bring equalities to the disadvantaged neighborhoods the policy is a highly effective tool for high packing paying jobs were looking to clarify those in the code and reaffirmtion of local hire the hours etch project for each plea will reflect how strong the market is this is maintained for the past two years the number of available makes it difficult for a higher target particularly speaking this legislation does not concentrate ever going lover 36 and has language to make sure it is upwards to move the Market Conditions a moving a high plateau will help to avoid the confusion their contained in the public works policy and procedures local hire applies more to public works to be on Construction Works on city owned property sold for Housing Development applies not section 6. 2 states that the projects must comply with chapter 32 thank you supervisor avalos for offering the local hiring legislation and Zoning Administrator naomi kelly for the original version of that update, of course, local hire wouldnt have been possible without the the work of my Community Back in 2010 including bayview based groups and frank for helping to bring this all the time forward i urge your support colleagues thank you, thank you commissioner fewer roster, colleagues, can we take that same house, same call . Well take that without objection. The ordinance passed unanimously fdr. Next. A term sheet endorsement jppf op acquisitions, llc jamestown proposed lease of pier 29 bulkhead. For the allocations, llc for jamestown for a 15 year lease with towing thousand square feet at the pier 7027 on churt and the embarcadero. Commissioner peskin. Thank you, madam president and thanks to the Budget Committee subcommittee for entertaining and adopting a number of amendment with regard to the concept all sheet as you may know pier 29 a part of a yet to be delivered promise of active recreation on the northeast waterfront that promise emanates from the 199720yearold Land Use Plan and, of course, many years ago there was a proposal for active recreation at the piers 27, 29 and 31 it didnt come to many of my constituents and citywide organizations have been trying to get the port to fulfill that for many years theres alone concern expressed this lease for 15 years modest it foreclosure on that the one will indicate that jane kim town will in the expand beyond the footprint got shed avenue pier 29 and two the Port Commission will endeavor to pursue the active request for proposal in or around the pier 29 area and with those amendments all, be it not everyone is happy but ill recommend the term sheet with minor amendments National Anthem on page 3 at lines 6, 9, 13, and 20 to insert that the board of supervisors urges the Port Commission given their chart authority with cant actually tell the Port Commission but we canable and, of course, ultimately any lease will come back here for approval by a majority of this body pursuant to the chapter with that, id like to move those amendments before all of you and will vote for it as amended. Commissioner peskin has made a motion to amend is there a second seconded by commissioner tang colleagues well take that without objection. Well take that without objection. The amendment passes and on the temple agency colleagues, can we take that same house, same call . Well take that without objection. The resolution is adopted as amended unanimously item he 6 cooperative agreement state of California Department of transportation caltrans design and construction of the to approve the cooperative agreement from think calculates concerning the design and construction of lombard street vision zero project and to make the environmental findings. Colleagues, can we take that same house, same call . Well take that without objection. The resolution is adopted unanimously next item, please. Item 7 retention of department of building inspection records. Certain records permanently. Sam the ordinance passed unanimously on the fdr. To urge the board of directors for the executive compensate and look at the compensation and hold a public hearings and issue a report. Commissioner kim. Thank you commissioner breed colleagues this resolution urges the San FranciscoEmployers Retirement system to join a nation Wide Movement of investors with who are holding the executive officers of pubically traded company forces their excess contemplate how fragile our countrys middleclass have become and reveals the forced has been operating our economy has continued to grow but it is done at the expense of the hard working people were a topheavy nation banning the dream as i mentioned in the basis around vetting in the Free City College movement our countrys middleincome the largest classes here in america has sullen and become smaller our low income communities San Francisco has the wide it income gap from the country awhile medium wages have been stagnate with the cost of living its grown as a unprecedented rate over nine hundred percent since 1998 since the quote stay an pay requirements by the dog Consumer Protection those who to landmarked this inequality have the tools to take legislative action we know in reply the average ceos was seven hundred and 74 to one not only on the job numbers are a misrepresentation of the employees values the excess compensation effects the performance in the long run in 2016 out of one hundred companies with the 15e78 s p were the highlight and the temple companies with highest csos underperformed by 5 percent costing their investors money they thats what where we come in Public Employees may not that of themselves with the power to influence we are and Pension Funds across the country all over the world manage magnificent portfolios that contain many of pumping traded companies now required to report the data those are taxpayers dollars and the fund of your employees with the a. D. Vented the stay on pay compensation manned by doug frank those leverage the individuals to vote against executive compensation packages last year the state of wisconsin and the florida modification voted against 73 percent, 82 and 84 of pay packages respectfully here in San Francisco we only voted against 7 percent of the exists fee thats why the board the San Francisco board of supervisors should urge them to consider the compensation reports of pay ratios for sf first and the portfolio and those use our permittee power to limit the excess compensations we know that is having an impact on the city we see the growing homeless impoverished families in San Francisco those actions should be in accordance with the sf policy the ownership the equalities interests in concert with other owners to have theville social issues and increased transparency requirement have revealed excess pay and who this negatively impacts the individual employees but a negative knock out effect for stakeholder and results in the economy as a whole i mentioned many of the Companies May their ceo underperformed and have an impact on the investment of our employees and stated in the resolution those studies show that the companies with the highest disparities with the workers underperform worst we also found it the diversity on the board of supervisors has been linked to better performance as well i want to thank supervisor cohen that served as the president of sf first working closely with us and also her suggestions and amendments im introducing a set of amendment that have been distributed to the members of the board i want to enforce we have a fiduciary to the employees and or so report but as you see only continues to make the case that while this is a small sheriffs deputy but this fulfilling our fiduciary duties and hopefully, we can encourage more stays and states across the country to follow florida and wisconsin and hopefully San Francisco as well colleagues would love our support on the amendments i have distributed and, of course, on the overall resolution and finally, i want to also acknowledge and thank our retirees that ton would one and local 1021 for ref this and work, working but as you before i call on commissioner cohen can i have a clear explanation of your amendment the therefore, be it resolved urges the sf to use the proxy voting power in a fail and pay votes to elopement the compensations and sophisticating can you explain what this specifically does. This is actually the heart of resolution the resolution is to urge our employment retirees to use the proxy power as an investor in you pubically traded companies in the portfolio to vote no on the fee compensation and asking for sf to develop a set of guidelines to examiner what is excess and what is in the and asking for a guidelines before the end of this year to consistently vote yes or no on the chiefs fee compensation as i mentioned as a major stakeholder in the pubically Traffic Accident companies we as investors can vote on ceo compensation and over the last couple of years were stat to see that public entities the state of with his was a and the state of minnesota have started to vote and as i mentioned start voting no on 73, 84 percent of pay packages that come before that city and county of San Francisco has only voted on 7 percent this is to encourage us to begin that practice we believe that not only is the it is important, important the country and workers it does impact the performance of companies that the companies that have the worst and most excess fees tend to underperform other companies. Thank you for if clarity. Commissioner cohen. Good afternoon good to see you all here commissioner kim for working with the advocates and getting this before us and thank you, again youre leadership a couple of things i wanted to maybe talk through first, i wanted to talk about dodd frank for the Consumer Protection act this is a offered an opportunity to improve the transparent and accountability in the meddled National Corporations particularly that the retirement board has a financial stake this is incredibly important piece of reform legislation i want to temper that your hearing ongoing xfks that President Trump might be looking at this is proven to be a fiduciary imperfect that means that till when boards is exists diverse and anymore people of color theyre making very long and more sound investments and incorporating the people with with diverse backwards they allow the business countrys or more importantly recognize opportunities i want to note that the San Francisco employment system is responsible for managing 20 billion to support the pensions for some of the cities tireless workers nurses and muni operators it includes Police Officers and even includes us right here on the Chamber Floor today whale the staff has done an excellent job and the best performers in this class of peers we have a 4 billion unfunded liability 4 billion with a b unfunded liability were not fully funded if we pay out everyones pension well be short by that amount being 4 billion and a large part of standing up for workers making sure that we are there to protect our own like those who retired and depending on the pension as president of the board i wanted to recognize we dont want to limit the staffs ability to invest in the returns forces the city workers but use the tools to demand transparent and accountability in our investment so thats why we continue to lead connecting the dots with continue the Residential Hotel of our investment to our workers and community so commissioner kim im happy to support this legislation i want to encourage everyone here on the board to support this legislation thank you. Thank you commissioner cohen commissioner fewer. Yes. Through the chair to the supervisor can i be added as a sponsor. Thank you commissioner fewer. Commissioner kim. I want to thank commissioner cohen to add this to the resolution own particularly on women this is of interest to our janitor board of supervisors only 60 percent of board of directors have pubically traded companies are women and seven hundred and 38 Public Companies that have zero women on their board of directors it is important and i believe that actually is really if we could for the Companies Bottom line to be on the board of directors so colleagues, i want to again acknowledge commissioner cohen for your work and as president of this board and colleagues ask for your support on this all the time item. Just for clarity commissioner kim in our amendments you intentionally struck out on page 3 line 21 pubically traded that was intentional; correct . On page 3 im sorry line 21. Yes. Okay because i think part of it was counter to what i heard you say. No, no we took that out it is not necessary it is companies in the sf or adoption portfolio it was just more of a editing issue. Thank you commissioner cohen. Thank you commissioner breed i want to acknowledge commissioner kim and quantify it is true when you add women and people of color to any boards within the finance community what specifically we found it funds do better with a more robust gain i wanted to add that. Thank you and colleagues commissioner kim this is a a motion to amend. There a second to commissioner kims seconded by commissioner ronen colleagues well take that without objection. The amendments pass and on the item as amended we take that same house, same call . Well take that without objection. The resolution as amended is adapted unanimously madam clerk items 9 through 11 Human Resources 3 resolutions that received the annual reports item 9 for the urging the San Francisco em