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Architects its a filipino owned s g e. The developer is looking at forward to have the participation in the development phase. Today, the Developer Team is here and lisa grady and Whitney Jones from cac is here i want to ask the rest of the team to stand for a moment. Thank you very much. And with that, that that concludes my presentation. And were happy to answer any questions you may have thank you. Madam secretary do we have any speaker cards yes. One dr. Espanola jackson. Item 5 d. Excuse me. I dont want b but i will speak on it absolutely. I thought i was doing c im sorry baby something t...

We believe on a per capita basis San Francisco is the highest city with the highest level of ellis act evictions in the state so the mayor and board of supervisors put together this emergency displacements program unfortunately, the people that are being evicted are in rent control units and the rents were 600 a month and evicted into a market of 3,000 a month. So its very difficult for folks to find a place once their evicted from a rent controlled unit the Mayors Office of housing of and Development Asked to look at the ellis act program thats why im here. We also implement the cortex o p pr...

Have a marketing plan how to reach out to your target populations. We dont have a marketing plan yet but well have one at the time, we Close Construction and start the outreach to help people with readiness and so thrill be lazy an 18 month period having to ask consultants to get when the loiter happens for people to rise to the top and be ready to hopefully be eligible and be approved to rent. Unit there. Those are all rentals. Yes. Are we going to get an update on the certificate of classification. Will it be improved a lot better no. Were about to do a presentation on another item related t...

General public. The project financing is ken conventional theres the ocii gap funding and 4 percent tax quality and 4 percent bonds and a First Mortgage in a private bank and developer fee. The agreement that were requesting approval for today is an amended and restated Loan Agreement ive mentioned that wraps into the former 2 hundred 4 zero million in predevelopment funding and additional funding and construction funding. The terms of the loan 3 percent Interest Rate it has a 55 year term and has a residual term that is consistent with all our loans we do. The project is also going to a groun...

The Interest Rate is going to be less than 3 percent. Less than 2 percent . 3 percent. Okay. Thank you. Thank you. I have one more question. About the parking why is the parking for each unit . Why do we not have more parking . Uhhuh. We have a ratio of point 5 so every other unit has a parking spot and working with the verbal to maximize that number. We may be able to gain one or two parking spots but its usual in San Francisco for public and Affordable Housing projects to have parking ratios that are well below one. One is the maximum allowed in San Francisco according to the planning code a...