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Of your section 8 amount than you would be of getting 100 of the amount eligible under section 9. The one big difference. The other big difference is the popularity or the supporters of section 9 versus section 8. The supporters of the section 9 are the residents of Public Housing and Public Housing authorities. The supporters of the section 8 Program Includes suburban jurisdictions and developers, and tenant advocates and a variety of other people that have more sway at the federal government level. So those resources are more likely to be there in the long term than the resources based upon ...

The lenders a s ans and investo used to projectbased rental vouchers. In the 80s there was lots of projects with projectbased rental assistance vouchers. And in San Francisco after the 20year cycle, the lenders and the investors are very familiar with this tool. They can underwrite with this and buy credits based on it, they couldnt do that with that section 9 financing. This is part of reason this is part of the solution. In terms why we are looking at rental assistance demonstration program. And the other part, the rental Assistance Program comes with an obligation. We will talk a little abo...

Fee from the Mayors Office schedule. Its barely enough to compensate them for two things. One the time they take on the development and the risk. These developers in San Francisco are guaranteeing that tax credit equity and the repayment of the debt on the property. And in exchange they get less than the maximum developer fee, because thats the citys practice. And they get a restricted cash flow, because thats also the citys practice. And in part because we subsidize those developments or heavily. The developers are doing this in part, because they are part of the solution and part of Affordab...

And in San Francisco after the 20year cycle, the lenders and the investors are very familiar with this tool. They can underwrite with this and buy credits based on it, they couldnt do that with that section 9 financing. This is part of reason this is part of the solution. In terms why we are looking at rental assistance demonstration program. And the other part, the rental Assistance Program comes with an obligation. We will talk a little about the rehab obligations and the tenant obligations. And one of the reasons, to take part of this program, you need to be obligated for 20 years. And we h...

Any new Public Housing forever. And it has not funded any new modernization for forever. So really what the secretary was doing was saying, here guys, i will give you this tool, and this tool unlocks the access to loan Income Housing tax credits and debt financing. And why does it do that . We are creating these sort of rental assistance vouchers. The lenders a s ans and investo used to projectbased rental vouchers. In the 80s there was lots of projects with projectbased rental assistance vouchers. And in San Francisco after the 20year cycle, the lenders and the investors are very familiar wit...