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This is not currently occupied so the price is going to start at market rate were getting 6 units when it is actually 3 but those wonderful units the department gives the excuse those are bigger and better for families those are only excuses to allow the existing Affordable Housing to be demolished and to allow the profits for the developers those excised are not policy and if you think about those excuses carefully what youre going to see this is also the can i nobody tears down samuel affordable units to build smaller nobody tears down small affordable units to build with less decency that t...

Victor mary confesses might be able to talk about that. Well, we actually discovered when we approached the agency over 5 years ago to try to see if we could have a part of the loan forgiven at that time, navigate we scheduled the item to come before the commission over 5 years ago but we decided that that was better to just let the time run because it was going to be an impossibility it was not dlofrdz until i reviewed the loan document and brought it to the council more and more wills this was a mistake that had been made in 1994 unfortunately yeah. Do you have any questions i want to raise ...

Legal be combonlt stopped it from the full term caught between a rock and hard place the Mayors Office has identified this as one of four important projects in the Mission District and were working with the, in fact, weve got a meeting with the mayor on thursday to look at feinsteins opportunity to get the project underway. Okay. Thank you do the commissioners have any questions. This loan is going on for a long time is it a loan or grant . Its structured as a loan but it is structured so it can be forgotten at the end of the term if all conditions met in if not due what are the conditions. Th...

And was very generosity impressed but worried and concern ill put this on record this is perhaps not an answer to freud would that asset essentially when its sold it is sold in the open market at market no conditions no Market Conditions to make it an affordable unit of its from the Mayors Office and your correct someone else can probably do a better answer but from my prospective and the translation before you the braid has my understanding theyve voted to authorize the sale but this is as far as it goes so n nc court so unless theirs negotiation once the loan transfers to occ but this is the...

With the objectives one, 2 and 4 that really promote the preservation of the existing Affordable Housing stock in our city as well with that, ill say that the residents who are in support of the appeal i feel theyre raising significant and important concerns about the loss of this Affordable Housing and whether a project like this t is fittings within our mayors directives and so ill look forward to the testimony from both sides but i have those concerns of the loss and dont guess of the sound rent control housing in our city with that, thank you supervisor mar the appellant mr. Wimdz. Thank y...