tv Government Access Programming SFGTV May 17, 2019 8:00am-9:01am PDT
necessary to explore the long five year plan, and, you know, it takes time to fill positions. that is the nature of city employment. certainly i believe we have unfilled capacity, we source capacity today and with this new budget that will sufficiently meet at least the second for one year, the second target in bill's plan. we are always chasing it. the idea of the five year plan was to get ahead. rather than to say we have a direct investment opportunity but no staff to do it. it takes a year and a half to hire staff and the opportunity is gone. we want to stay up with what we anticipate on the route we are going. >> i will move the process forward by saying i will move to adopt the budget for 2019-2020, but i want you to remember that
it is in context of the future budgets, and a educational process of city hall talking to city hall, explaining to them what we are doing, why we are doing it, how the fund works and does not impact the general fund and does impact the general fund if we lose opportunities and if, you know, contributions have to be increased. i think that we can't be painted with the same brush all of the other departments get painted with because we are different, and we are revenue but we are in a different manner, not compared to the airport or m un i. >> i will make the motion to adopt the budget based on that context what we did at the committee over the two month
period. >> the mayor's office asked me to document how the budget -- we have given to support the mayor's main initiatives. the initiatives are homelessness and housing. and public safety and health. so we don't have a direct responsibility. what we did is we used presentation to basically say by the fact that they, city hall supported investing in the investment staff over the last five years had we made median returns of public pension plans we saved the city over $275 million in contributions. they know those numbers in front of them. with them investing and supporting us because they did. the mayor's office had to improve the increase in staff
and sign off on the pay structure that we are able to now recruit folks to these investment positions. i want to put in front of them that had they not done that and had we made median results, they would have had to pay over the last five years an additional $275 million in employer contributions. we hope they will give us credit that we saved them that money and the investment they made in increasing the resources has paid off more than 100 fold. >> okay. there was a motion on the floor. >> i will second it. i want to make a comment. we talked about this is the change not so much -- it is a change in the way we do our business, and with your plan for the next year. it is something that my experience with the city is we
are going to pass the budget, hope we don't stick it in the drawer because you guys have a lot of education upping what you do and how you do it and look at the positives. i don't think all of the positives are getting out so i encourage that we all keep our eye on this ball. next budget cycle starts coming right in october. it is an election sitting there. >> exactly. >> on that note. >> i am going to ask if this is a one-year. the impact of what you are doing now, my understanding, this is the next budget cycle things could totally change based on the initiatives you outlined. >> we load to the budget system the two year budget last year
and now we are making significant changes on that budget. we will do our ask and justification. we talked with president stansberry we want the material available after the election to make sure that city hall and the mayor's office and board of supervisors who have to approve the budget understand we are doing a good job and need the resources or they will end up having to pay for the lack of us to keep ahead of a $40 million pension liability in less than 10 years. >> that is the key. you just said it. >> we are trying to package it into three slides. i don't know if we will make it to three slides. >> it is the right strategy. >> after the last board meeting
we all started talking about next steps in process. what i said is myself and mr. hughes would meet offline and talk about how to move forward. we did that. we met week before last. there is some other things we need to do. as part of what we did is ask ththeedjanette to look at the rs this is 2012. have we continued to be average over the last several years how much more money would the city have had to contribute. mathmatically correct calculations plugged in the numbers in the model so we know exactly how much money the city would have had to contribute had we not increased investment returns from average to where we
are today and that number is over $270 million. next year it will save us -- it will save the city $150 million. that is incredible. there is a lot of other things that we have to do and we will meet around talk about it again and keep the board updated. we have a motion, a second and any discussion on this item before i call for public comment? >> this $98 million including deferred comp, correct? >> yes. >> we know that is dealt with separately. the details in this budget has to do with management fees $54 million plus. there is a problem how accurate that is. i believe we use assumed expense
ratio of .45. >> .46. >> that is greater than the budget because there are fees we are responsible for paying that do not show up in the budget. >> it was raised to .46 when we right around 2009 and 2010 when the value of the pension was less than $12 million in order to support the acual. they look at the normal assumption is less than 45 or 46 basis points. the change was made in the 20 basis point level until the reality of our operation and our commitments were exceeding that and so they had to adjust that by board approval to increase administrative fee raise. it ask the highest i have ever
seen for a public plan. i don't think that is our limit. from the actuary's perspective we are be low administration costs. to your first point our budget including retiree healthcare trust fund budget. that is not printed to this board. it is presented to their board. we are now submitting three separate budgets. deferred comp, retiree healthcare and this. >> the things about the .45 that goes to the total cost we collect on which the city and the active employees pay o. >> exactly. >> watching the costs improve the platform to maintain the 7.4 or better. >> what we actually spend. we have had new board members why aren't we budgeting more closely.
we drew up a list as of june 30 of who we were investing with because our process started in september and october. we don't spend. i think we probably are lucky to spend two-thirds much the budget on the investment management side and so it is significantly less than the 46 basis points. >> if you look at it as opposed to collar by manager -- dollar by manager. >> when this education process works make sure there are two people from the office. >> the board of supervisors and the mayor's office does not review or touch that part of the budget. they do not touch the administrative expenses of investing the money other than to approve staff salaries and money to pay staff. all of the management fees and
research is at the discretion of this board and they will not change it, they never have changed it. they don't review it or suggest changes to it. that is the one carve out that we have that i don't believe any other department has. >> thank you. >> thank you very much for the presentation. we have a motion, second. we will call for public comment. any members of the public to address the commission on this item? >> if he wants more office space is buy a san francisco office building. where are you going to get the money? if you took the investment advice and just invested in stocks, bonds and real estate, it would double in 10 years. the office building more than likely would have 100% return on your investment. the money for that, you have got
to spend hundreds of millions of the hedge funds, equity and in 10 years just the money you spend on performance fees, management fees would more than pay for the office building. it would also lease out the space that you don't use to other agencies. >> thank you very much. any other members of the public that would like to address the commission on this item? seeing none, i will close public comment. can we take this without objection? >> item passes. why don't we go back to item 11, please. >> chief investment report. >> we were up 1.2% in the month
of november. excuse me the month of april. led by the public equity portfolio in the u.s. up almost 3%. i do want to draw your attention on page 2 on the right side. our unstanded commitments the te obligations totals $7.5 billion in liquid -- excuse me private credit is slowest growing. the current wait is 2.5% versus a policy of 10. the way to think about this is that a fully funded private credit strategy including unfunded commitments would be $2.5 billion. looking at that from a $3.3 billion is where it is
halfway there, not a quarter of the way there. the commitments have not yet been called. turning to the narrative starting on page one, we have had a really amazing four months. the s&p 500 is up 20% in the first four months of the year. that is the best start to a year since 1987. i don't want to repeat what happened in october of 1987. it has really been due to two factors. easing of the trade tensions with china, although those have been renewed the last couple of days, and the jobs market has continued to be quite strong. the pmg, we meet at least twice each month and we did approve the recommendations that the board saw this month.
on page 2 of the narrative. great news. delighted to convey that chris chained ward have been promoted as director of natural resources and director of rural assets. they co-lead the assets program and work together. they both have 12 years total experience. chris has been here three years and ed for four. our natural resources program outperformed by 8.76% for the past what is it? three years. that is a remarkable stunning outperform answer and is due to chris as well as tanya.
hon has been here almost five years. she brings north of 20 years total experience to her position as director of public equity. she also has a distinguished educational background as do both ed and chris, and we do have several positions, two positions we have completed recruitment for three. two of those will start next week. those are for real a assets and interim for private equity. anna had an offer extended to help her man age asset allocation. by may 27th we will have only one position i am aware of that will be open. we have come a long ways to fill out our analyst group.
i am delighted with the career track for chris, ed and hon. i have a number of closings. >> we will take those as submitted if you want to go to item 13. >> if you need to make a report on the closing. if you could do it quickly that would be better. >> why? it is in the public record? why verbally? >> it is not all in the public record. we need to make it. >> this is a public document, right? it is in the public record. why don't we put it in the minutes rather than going through it. can we please put it in the minutes going forward so we don't have to read all of them? i don't understand why we have to read them out every single time. >> because he is required to
make a report of the closings at the next board meeting. >> it is submitted. >> they are reflected in that level of detail in the minutes. >> in the minutes, okay. thank you, mr. bryant. >> we have three additional closings which we will furnish to the board as well. >> thank you. very good. >> page 6 regarding absolute return. a couple of keys here. inception today is that we have outperformed the index over 1.2%. we outperformed the barklays aggregate bond index by 3.4%. the investment committee the highlights are as we talked about, we are $25 billion a un
and $28 billion in liabilities. they will grow to $60 billion. we are going to become a very large plan. we will become much more mature even if we hit our return objectives, our net cash outflows will grow from 2.0% plan assets to 2.8 and 3.3% in 20 years. if we don't hit the return objectives they can be north of 4%. to prepare for becoming a very large plan, we have had good success emphasizing the specialist strategies that we think we have terrific partnerships. we do need to begin to make changes how we manage going forward as we become a much larger plan. we don't want to just index and invest in larger platforms that
offer lower returns. we want to retain what we have done well. we need to modify that in four ways. develop operations group, develop a career track, increase co-investments by 4 to 8x so they become 10 to 20% plan assets in 10 years and fourth increase the total between investment and operations staff from 26 to 33. about the next three years to 40, six years from now. we think this gives us the best chance to extract more value out of existing relationships and unearth new specialist strategies. this is our recommendation. we talked about this extensively at the ic. this is a recap to the board. that is it.
>> thank you for the presentation. any questions, comments, discussion from the board? >> there is a piece that triggered the report. why you recapped the ic that was your choice i am not sure why. the fiscal year numbers in this stuff that you presented with kaiser was done in the calendar year. i suggest we change it to fiscal year. the contribution is calendar year. this is based on fiscal year. when things line up it is easier to keep track. just a suggestion. >> very good. we may need to modify the calender. happy to do that. it is a work in progress. >> seeing nothing else from the board i will open it to public comment. any members of the public that would like to address the commission. >> i just read in the book that
it said you have had an annual return on theming funds -- huge funds. 4.79%. that is ridiculous. to get 7.4% return you want you have to get 10% to get you 7.4. that should tell you that you should divest from hedge funds two years ago. it is the most ridiculous investment you have ever made. >> any members of the public that would like to address the commission regarding this. thank you for the reports. why don't we go to item 14, please. >> item 14. discussion item. travel expense report for the quarter ended march 31, 2019. >> we take it as submitted. any members of the public to address the commission regarding the travel expense report?
i will close public comment. anything from the board? great. item number 15. >> discussion item number 16. executive director's report. the city and county of san francisco versus retirement board and executive director we expect a ruling from the court of appeals within 90 days, that would be by the end of july. i will report to protect benef benefits filed a brief and they were supportive in their filings of the retirement board's position in determining to pay the pre-1996 folks that was to
pay the cola. >> anything from the board? we will open up to public comment. any members of the public to address the commission regarding the executive director's report? we close public comment. item 17, please. 17. discussion item. retirement board member good of the order. >> anything from the board? we technically have to call for public comment. calling for public comment on this item. no members of the public wishing to address the commission we close public comment. everyone thank you for your time. meeting adjourned.
shop and dine in the 49 promotes local businesses and challenges residents to do their shopping and dining within the 49 square miles of san francisco. by supporting local services within our neighborhoods, we help san francisco remain unique, successful, and vibrant. so where will you shop and dine in the 49? >> my name is ray behr. i am the owner of chief plus. it's a destination specialty foods store, and it's also a corner grocery store, as well. we call it cheese plus because there's a lot of additions in addition to cheese here. from fresh flowers, to wine,
past a, chocolate, our dining area and espresso bar. you can have a casual meeting if you want to. it's a real community gathering place. what makes little polk unique, i think, first of all, it's a great pedestrian street. there's people out and about all day, meeting this neighbor and coming out and supporting the businesses. the businesses here are almost all exclusively independent owned small businesses. it harkens back to supporting local. polk street doesn't look like anywhere u.s.a. it has its own businesses and personality. we have clothing stores to gallerys, to personal service stores, where you can get your hsus repaired, luggage repaired. there's a music studio across the street. it's raily a diverse and unique
offering on this really great street. i think san franciscans should shop local as much as they can because they can discover things that they may not be familiar with. again, the marketplace is changing, and, you know, you look at a screen, and you click a mouse, and you order something, and it shows up, but to have a tangible experience, to be able to come in to taste things, to see things, to smell things, all those things, it's very important that you do so.
>> there weren't really any real funding structures available at that time, so we started out in civic centre. we always wanted to find our way back. the temporary navigation center at south van ness and around 22 nd street allowed us to start a small pilot program over there. leadership told us that we may get an impact on the area in cleanliness and community. those who have been vehemently opposed to the center became even more angrier when it was taken down. folks at the north end of the mission saw what was going on and eric who you will hear from in a few minutes, saw our impact , he asked us what we can do closer for 16th and mission with $5,000. it wasn't much, but the funding and the excitement generated by him and the program helped us hold out until the end of the fiscal year.
when the team and supervisor ronen's office give us funding to expand throughout the mission [applause] >> our team in the mission has grown from a tiny four person team, all the way to a 30 member cohort that works daily to clean the area stretching from division street, down to 24th street. and from valencia, all the way to harrison. it is incredible how much they've accomplished in these past five months, and it wouldn't have been possible without community momentum from neighbors like sean case, a raised awareness of our team and pushed rest in his neighborhood outside of coronado park, about three blocks down. our vision is to build -- to bring clean, beautiful streets, to end homelessness in the mission, and to tear down the barriers to community that exists between the least and the most franchised. we are on our way, and we are going to get there with your help.
and now, i have the pleasure of introducing layer breed who has been a champion -- mayor breed who has been a champion since the beginning. [cheers and applause] >> thank you. really glad to be here. i also wanted to mention that yes, there was an ad back provided for this program to extend the downtown streets team to the mission, to this incredible neighborhood, but our office, through the fix-it department gave a quarter of a million dollars to downtown streets team to make sure that we provided the appropriate funding so this program can expand. this is not just about jobs, it is not just about clean streets, this is about our city. this is about taking care of our city, it is also about making sure that people have opportunities to get housing,
people have opportunities to get services, people have opportunities to do jobs to that allow them dignity. we want to make sure we have a thriving city, and it takes a lot of work, and it does take a village, doesn't it, donna? it takes a village. it takes a village to make sure that everyone in our city has an opportunity to be part of this incredible program. i want to think downtown streets , because you do the important work, so many of you volunteer your time, so many of you are out there cleaning the streets, but you are also engaged in conversations with neighbors, with merchants, and it is really creating this incredible feeling in san francisco. you are the ambassadors of the city. you represent our city everywhere you go, and i have to tell you, i see those yellow shirts everywhere downtown in san francisco. [applause]
>> i know we have our challenges , and i know the income inequality gap has widened like never before. which is why it is going to be important that we move aggressively to build more housing. that is one of the reasons why we are putting a 500 million-dollar affordable housing bond on the ballot this november. it is also why i am proposing a chart amendment to build 100% affordable housing and 100% teacher housing as of right. no more bureaucracy, no more delays, no more not in my backyard. if we are going to really address what we know are serious challenges in this city, we have to build more housing, especially affordable housing in every corner of san francisco. i don't want to see the next generation who grew up in san francisco like nikita and i, where our friends in our family
cannot afford to live here anymore. this program, yes, it is important, but housing and making sure that people have the dignity of a safe, affordable place to call home is equally important, and i'm committed to making sure that as we expand programs like downtown streets and we continue to clean up our safety, we also have places for people who work in our city to afford to live here, too. that is a critical part of making sure that we are really a diversity. that we invest in the people of san francisco, so i am just excited to be here today, and to say thank you to fill ginsburg with recreation and park, to the fix-it team, to do the department of public works, to all of the volunteers and community members, and i will say that d.p.w. and the downtown streets team, they can't do it alone. it is all of our responsibility
to take care of our city. so let's roll up our sleeves, let's get to work, let's make san francisco a more green and clean city, more than anyplace else in the rest of the country. thank you also much for being here today. [cheers and applause] >> now i want to take the opportunity to introduce your supervisor, hillary ronen. [cheers and applause] >> thank you so much. it is such a pleasure to be here on this gorgeous, gorgeous day. i love downtown streets team! i want to tell you a story. so i don't know if you guys saw it there or read it in the media reports, but for a good part of the year, the barge director and i cleaned the 16th street b.r.t. station because he needed help, but also because we're trying to make a point that they
didn't have enough full-time workers at that station to keep it a dignified place for everyone. and it was a mess. it was a mess. every week when we got there we would fill up garbage containers after garbage container of trash and one day we got there and it was spotless. it was so beautiful and we were so confused, and we said what is going on here? we found out that a private citizen who has an office across the street from the bart plaza had given a grant to downtown streets team to work in that area, and oh, my gosh, you changed the entire atmosphere and the entire feeling of that area, and i got an upfront view of the tremendous work that you do for the city. it is changing lives, it is
changing our feeling about this city, and we love you for it, so much so. as the mayor said, she prioritized in the city budget expanding downtown streets team to many parts of the mission, and i could not be more grateful to her, and more grateful to you for doing this tremendous work. you are amazing, we love you, keep it up. thank you so much. [cheers and applause] >> all right, now it is my pleasure to introduce community partner eric rodenbeck. [cheers and applause] >> hi. my office is at 16th and mission, it has been for 18 years, and about a year ago, i decided it was time to stop complaining and start doing something about it, so when i started calling and sending
pictures about what was going on in the plaza, you started come out and clean himself. the bart supervisor was showing up at 16th and mission with a broom. asserts a tiny little changes, small things like making sure that the closet to bart is locked, and then small contributions to allow amazing groups like the downtown streets team to do their work. there's nothing like the power of committed individuals to clean up a place and make a positive difference. i want to thank the mayor mayor and supervisor for their support there are people in this town who have answers to what our most pressing questions are, and our most pressing problems. there are solutions that we can implement together in ways that are equitable, in ways that don't displace people, and let us hold true to our san francisco values. i encourage you to come down to the 16th and mission plaza and see the work that the amazing group of people are doing here. it is a radically transformed
situation, and i can't thank you enough. from the bottom of my heart, thank you. [cheers and applause] >> i wanted to share a couple of stats before i invite our last speaker up because they are so exciting. so since we launched with the city funding in the mission, nine folks have gotten employment already on our small team. [applause] >> three folks have been house. altogether in the mission, we have already removed 300,000 pounds of trash. it's pretty incredible. finally, we have picked up 2,458 needles from the streets, it is such important work that our folks are doing, and they're working so hard. with that, it is my pleasure to introduce our purple shirt, team supervisor, who looks after our entire mission team. and without whom this program would not run half as smoothly or with half the amount of love that it does.
[cheers and applause] [cheering] >> dsd! >> family, i see all the hard work that you do, i she you get up at 7:00 a.m. in the morning to come here, and i see how much effort that you put into it, you know, my job as a supervisor, but my job -- also i am your friend, you can come and talk to me. when i talked to the team members, they tell me, they say darrell, you know, i'm really tired of sleeping in a tent, and when they tell me that, i get sad, and his they say, darrell,
what do you think we could do about this housing crisis? and i say, you know, i really don't know, but what i believe, i believe, i want to believe that this is the best country in the world. i want to believe that this is the best city in the world. but one thing that i do believe, i do believe that if we come together as one, we can fix this thank you for coming, thank you, mayor breed. [cheers and applause]. >> we have one more thing, you know, we honor our team members and this guy has gone beyond in everything that we're all about at dst. he is a reflection of what we are about, and that is saving
lives, helping people. meeting him where they are at. so i want to present this green shirt, my friend and my co- volunteer worker, bobby. come on up here and get this award. [cheers and applause] >> way to work it, bobby. >> i'm surprised. [laughter] >> i thought i would make the green shirt at the meeting. anyway, i'm kind of nervous, but i know how it is on the streets because i have been there myself , and right now, i can get a job if i want to, and nine to five job, but right now, i am just giving back to my community
, and the four hours that i am doing is helping me. it has helped me because i see myself. i have been there on the streets it is helping me remember my past and helping somebody to get themselves back on their feet. this -- they may not take our cards, or i tell them where to meet, but every little bit helps anyway, thank you, guys, thank you for showing up. thank you. [cheers and applause] >> all right. can i have our team members and staff come on up, and community partners. we will go ahead and cut the ribbon now. you are a team member, sir, yes. all right, all right. everyone gather behind the ribbon. make sure we all get in the frame.
a good accuse. we have this incredible gift probably the widest range of restaurant and count ii destines in any district in the city right here in the mission intricate why don't we capture that to support the mission youths going to college that's for the food for thought. we didn't have a signature font for our orientation that's a 40-year-old organization. mission graduates have helped me to develop special as an individual they've helped me figure out and provide the tools for me that i need i feel
successful in life >> their core above emission and goal is in line with our values. the ferraris yes, we made 48 thousand >> they were on top of that it's a no-brainer for us. >> we're in and fifth year and be able to expand out and tonight is your ungrammatical truck food for thought. food truck for thought is an opportunity to eat from a variety of different vendor that are supporting the mission graduates by coming and representing at the parks >> we're giving a prude of our to give people the opportunity to get an education.
people come back and can you tell me and enjoy our food. all the vendor are xooment a portion of their precedes the money is going back in >> what's the best thing to do in terms of moving the needle for the folks we thought higher education is the tool to move young people. >> i'm also a college student i go to berkley and 90 percent of our folks are staying in college that's 40 percent hire than the afternoon. >> i'm politically to clemdz and ucla. >> just knowing we're giving back to the community. >> especially the spanish speaking population it hits
[♪] ♪ homelessness in san francisco is considered the number 1 issue by most people who live here, and it doesn't just affect neighbors without a home, it affects all of us. is real way to combat that is to work together. it will take city departments and nonprofit providers and volunteers and companies and community members all coming together. [♪]
>> the product homeless connect community day of service began about 15 years ago, and we have had 73 of them. what we do is we host and expo-style event, and we were the very force organization to do this but it worked so well that 250 other cities across the globe host their own. there's over 120 service providers at the event today, and they range anywhere from hygiene kits provided by the basics, 5% -- to prescription glasses and reading glasses, hearing tests, pet sitting, showers, medical services, flu shots, dental care, groceries, so many phenomenal service providers, and what makes it so unique is we ask that they provide that service today here it is an actual, tangible service people can leave with it. >> i am with the hearing and speech center of northern california, and we provide a variety of services including audiology, counselling,
outreach, education, today we actually just do screening to see if someone has hearing loss. to follow updates when they come into the speech center and we do a full diagnostic hearing test, and we start the process of taking an impression of their year, deciding on which hearing aid will work best for them. if they have a smart phone, we make sure we get a smart phone that can connect to it, so they can stream phone calls, or use it for any other services that they need. >> san francisco has phenomenal social services to support people at risk of becoming homeless, are already experience and homelessness, but it is confusing, and there is a lot of waste. bringing everyone into the same space not only saves an average of 20 hours a week in navigating the system and waiting in line for different areas, it helps them talk, so if you need to sign up for medi-cal, what you need identification, you don't have to go to sacramento or wait in line at a d.m.v., you go across the hall to the d.m.v. to get your i.d. ♪ today we will probably see around 30 people, and averaging
about 20 of this people coming to cs for follow-up service. >> for a participant to qualify for services, all they need to do is come to the event. we have a lot of people who are at risk of homelessness but not yet experiencing it, that today's event can ensure they stay house. many people coming to the event are here to receive one specific need such as signing up for medi-cal or learning about d.m.v. services, and then of course, most of the people who are tender people experiencing homelessness today. >> i am the representative for the volunteer central. we are the group that checks and all the volunteers that comment participate each day. on a typical day of service, we have anywhere between 40500 volunteers that we, back in, they get t-shirts, nametags, maps, and all the information they need to have a successful event. our participant escorts are a core part of our group, and they are the ones who help participants flow from the different service areas and help them find the different services that they needs.
>> one of the ways we work closely with the department of homelessness and supportive housing is by working with homeless outreach teams. they come here, and these are the people that help you get into navigation centers, help you get into short-term shelter, and talk about housing-1st policies. we also work very closely with the department of public health to provide a lot of our services. >> we have all types of things that volunteers deal do on a day of service. we have folks that help give out lunches in the café, we have folks who help with the check in, getting people when they arrive, making sure that they find the services that they need to, we have folks who help in the check out process, to make sure they get their food bag, bag of groceries, together hygiene kit, and whatever they need to. volunteers, i think of them as the secret sauce that just makes the whole process works smoothly. >> participants are encouraged and welcomed to come with their
pets. we do have a pet daycare, so if they want to have their pets stay in the daycare area while they navigate the event, they are welcome to do that, will we also understand some people are more comfortable having their pets with them. they can bring them into the event as well. we also typically offer veterinary services, and it can be a real detriment to coming into an event like this. we also have a bag check. you don't have to worry about your belongings getting lost, especially when that is all that you have with you. >> we get connected with people who knew they had hearing loss, but they didn't know they could get services to help them with their hearing loss picks and we are getting connected with each other to make sure they are getting supported. >> our next event will be in march, we don't yet have a date set. we typically sap set it six weeks out. the way to volunteer is to follow our newsletter, follow us on social media, or just visit our website. we always announce it right away, and you can register very easily online. >> a lot of people see folks experience a homelessness in the city, and they don't know how they can help, and defence like
to a new neighborhood that's closer to family, but they also worry that making such a change will increase their property taxes. that's why i want to share with you a property tax saving program called proposition 60. so how does this work? prop 60 was passed in 1986 to allow seniors who are 55 years and older to keep their prop 13 value, even when they move into a new home. under prop 13 law, property growth is limited to 2% growth a year. but when ownership changes the law requires that we reassess the value to new market value. compared to your existing home, which was benefited from the -- which has benefited from the prop 13 growth limit on taxable value, the new limit on the replacement home would likely be higher. that's where prop 60 comes in. prop 60 recognizes that seniors on fixed income may not be able
to afford higher taxes so it allows them to carryover their existing prop 13 value to their new home which means seniors can continue to pay their prop 13 tax values as if they had never moved. remember, the prop 60 is a one time tax benefit, and the property value must be equal to or below around your replacement home. if you plan to purchase your new home before selling your existing home, please make sure that your new home is at the same price or cheaper than your existing home. this means that if your existing home is worth $1 million in market value, your new home must be $1 million or below. if you're looking to purchase and sell within a year, were you nur home must not be at a value that is worth more than
105% of your exist egging home. which means if you sell your old home for $1 million, and you buy a home within one year, your new home should not be worth more than $1.15 million. if you sell your existing home at $1 million and buy a replacement between year one and two, it should be no more than $1.1 million. know that your ability to participate in this program expires after two years. you will not be able to receive prop 60 tax benefits if you cannot make the purchase within two years. so benefit from this tax savings program, you have to apply. just download the prop 60 form from our website and submit it to our office. for more, visit our website,
>> three, two, one. [applause.] >> congratulations everybody. thank you. >> so the project was driven by the need to improve conditions for people biking and walking from beach street to mcallister. between 2010 and 2015, there were 290 traffic crashes including two deaths, 110 bike collisions and 78te 78 pedestrin collisions. the construction was a little over two years. it including pedestrian crossing, better bike facilities, new street trees, we
repaved the entire corridor. fern alley has decorative street plants and new palm streets. cbd helped maintain the alleys and they are planning farmers markets and pop ups and bands. >> the goal was to build on the economic vibra vibrancy of polkt and to provide a safe street for the whole >> good afternoon and welcome to the land use and transportation committee of the san francisco board of supervisors for today