>> great weather in san francisco. people out there and hopefully can give you the gift of time to enjoy the weather. so, welcome back and deborah, thank you for filling in. it is great to see you back here. deborah filling in and extrameeting. i feel i was just here not too long ago. let's go with roll call. >> alright. prior to calling roll i note director tumlin is absent and vice chair mandelman is-- [roll call] directors, we have quorum. should i call your next item?

>> please. >> next item is communication and like to note to make public comment. members of the public may comment on the meeting during public comment in person or remotely. the call-in is provided as a courtesy and availability may disrupted due to technical difficulties. in person public comment will be taken first and remote after. dial in instructions are printed on the agenda and should be scrolling on sfgovtv. any other communications from the directors? seeing none, i'll call your next item. >> please. >> your next item is item 4, director new and old business and i'm not aware of any. okay. move to your next item, 5, executive director's report. >> good morning directors, nice to you this warm morning. it is exciting week at the tjpa. just within the last week we

resolved the last construction dispute to complete phase 1. confirmed our rating and post covid outlook from negative to stable. [indiscernible] successful launch of down tourn first thursday which brought 8 to 10 thousand people down to 2 street. received final conformation from the federal transit administration they accepted the portal into the engineering phase of the capital investment grant. this is something we have been working for a number of years now, and it comes with a federal commitment of $3.38 billion to the portal project. this is the second of three major milestones in the federal grant making process after the 2021 entry into project development and before we identify all matching funds to negotiate and sign a full funding grant agreement. strong support from the fta brings the portal over 2 thirds funded or

committed and a handful of projects nationally for procurement and preconstruction activities. i just returned late last night from washington dc and honored to usdot, department of transportation for all hard work and continued support for it portal. during my visit we met with chity staff from senate banking and house infrastructure. met with congressen shif and retiring [indiscernible] speaker pelosi. there was much improvement and look forward miking the mile stone along with partners and elected leaders and supporter. move the project to level one of the major project advancement project since we meet criteria on schedule and funding commitment. this help future rounds of capital program and other discretionary

funds. we remain focused on closing the funding gap and will present the fisdle year draft budget which reflect a realistic timeline to do so then the aggressive accelerated work plan we have been working on since april 2021. that work schedule had a signing full funding grant agreement this coming spring and you will hear today how we have been updateing that assumption to align with the various funding sources. last friday we submittal mega application and caltrans. partnered at coapplicant. i thank caltrans and the over 43 other supporters who provided letters of support for our application. later this month we expect to aplay for chrisy the federal railroad administration due the end of the month

and evaluating funding opportunity for tircp cycle 7 due end orphjune and participating in ongoing discussion on the progress of sb1031 to authorize regional transit measure as soon as 2026. as you rule, the san francisco peninsula mou expires tomorrow along with the executive steering monthy to provide recommendation on the portal. as identified through the mou blue print i called to convene a executive working group to take the esc place. we will meet later this month and continue the ipmt as well as new configuration change management working group. expect to provide regular updates to the board as we look to bring the successor mou to you for consideration this summer. also want to welcome neal back to the office. she has been out some time and happy to

see her back post-surgery. finally, we had a number downtown activations partnering yesterday with sf small biz. forty local makers vendors along with food trucks and live music to downtown first thursday last week. downtown has not felt more active since the pandemic over 4 years ago. the facility operation director will start the park season starting may 1. but before we bring rodry and ari up to present the answer any questions, as part of the executive directors board director, forbes chair g. thank you. i have some comments on this report. i mean, this is wonderful, wonderful news, this is exactly the milestone we needed to hit. and we're hoping with fingers crossed that we would, it's incredibly competitive of and this project

is coming together and advancing in the way that shows its exceptionalism and its contribution to the region. and i just wanted to be take this moment to really recognize the team. adam, and your leadership and chair g. this, this governing body, i think is very, very aligned and helpful in achieving what is going to be just a remarkable, remarkable improvement. so congratulate to you and welcome back. nila very good. anyone else, any other directors. there's much more to say. ditto ditto ditto. no. it is a remarkable milestone and congratulations to everyone involved. the, accelerated work plan, the hard work and lobbying and the grants, the focus of the board, the support of the region is a big deal. and it is a

transformational project for the region. so let's keep it going. we're not quite there yet. we got, what, one third of the way? more to go. as mom said, it's always about the money, it is about the money at this point. but congratulations to everybody. it's a momentous milestone and a good reason to celebrate what the accomplishments of

. >> for example last week. >> . >> that was designed by sfpd and we back fill the law enforcement perm at the transit center and it worked out and had 6,000 people visiting the transit center and the roof top park. their unwavering resilience separamount to our program and i want to say that contract

sfpd are 24/7. thank you. we're tracking kpis and post testing and competent assess testing. we had a 3% turn over rate. perm left to pursue other opportunities were in line with their long-term needs. we had several great individuals that lived far away, pittsburgh and parks in the east bay and the travel time really caught up with them and gas prices and et cetera so we were able to work with allied and get them closer to their home which benefited both parties, and so we was glad they were able to reset but unfortunate they had to leave and we understood. as far as staffing and cross training with contingency plans are critical for consistent security coverage. we do our best to ensure that we hold people over

for critical posts that we don't go dark in locations, right, and the members of the public and operators and tenants are vulnerable so we're constantly looking being at our crime data making sure that we parse that information and we redeploy adequately. this last is the post competency test. we do all in house training for security personnel. we don't farm this out to allied. there is no compute based cookie cutter thaning that they do and train the masses. our training is tailored to the transit center and the emergency operations plan. it's integrated and the likes and so we try to assist their understanding and duties and instructions by quizzing them on their post

orders and not verbally assisting them and so during this reporting period the overall scoring increased last reporting period we had average testing and about 94 and went up to 96% this. concludes my presentation and i am. any questions? >> thank you. >> very good. thank you. >> all right. good morning chair gee and director it is. i am the tjpa if the director and honored to be here today wanted to height one of the favor programs for two reasons and number one it's great to make math fun. who would have thought? and i want to give a shout out to these

folks because they bring a lot of people around the bay to the center which is just great. program attendance so as you see from the chart attendance doubled since the beginning of the year which is great. i will say we expect those growth numbers especially as the weather improves but i want to highlight to show we're peaking on thursdays which is probably something we would expect but on friday and saturday is not something we would expect and something we have been pretty successful at is the whole point of hosting these programs and getting people out when they wouldn't otherwise be out. program signage so we went through a redevelopment of our signage thanks to lily and her team. we've been able to redesign these and make them more fun. we came up with more categories and made them all distinct from each other and of

course super in whichtive. upcoming events so we polynessian dance on may 18 as well as the k pop up on may 26. you might see me out learning to pop and strut and move like a k pop star and you want to bas me i am see you there. upcoming events we have suds san francisco in the work for july 20. we're looking to invite over 20 breweries great food, great music, all the basics for a great party and hope you see you there and we will let you know when tickets go on sale. downtown activations as several folks have mentioned we had downtown first thursdays and i wanted to highlight something other than how fun it was. it was absolutely great a lot of great people were out and nice to see folks but the thing that i really enjoy

and appreciated from this event a lot of our vendors retailers showed immense growth from this time from only five to 10:00 p.m. the beer garden sold out and all the other vendors are saying they want record high sales which is what you want to see with events like this. we had the small pop up yesterday and great food trucks and music and some fantastic vendors. i may have racked my credit card up a little bit because you couldn't walk away from the great things and we hope to host more in the future and hope to see you out there at those. retail leasing update. beer bottle is on track to get into the grand hall by this sulker. moody is cranking along. i toured their space yesterday and

getting the dry wall up and moving well and expect them to be on the target of the fall opening date. the juice bar they're working on the architectural plans and getting through the permitting process. we recently introduced them to sf small business who has been incredibly helpful making things simple and easy to understand so what i know exactly what to do to progress through this sometimes difficult process. new additions so last month philosophies opened up their first street location with us which we're incredibly happy to see and this month fitness sf expanded a bit. they add a cafe called clean bites with high protein vergey style meals and added a new recovery room with lounge beds and massage chairs and beds and

norm atech compression stations. pretty awesome. and as usual i want to make sure i shout out for the currently open vendors. any questions i will be happy to answer them. >> all right. thank you very much for the report and great to see the recovery room is open in time for the san francisco marathon. >> exactly. >> all good timing and good stuff. directors any questions? very good we look forward to your k pop performance. >> you know it. thank you. >> adam did you want to add anything? >> no, this completes the items under the executive director's report and i was laughing to myself that you can pop, strut and water and get the massage and everything in the same knowledge. >> i thought you were going to keep him company on k pop. >> i would definitely pop. [laughter] >> something. >> all right. very good. i think we should go to public comment on the reports. >> we will go ahead and check for public comment in the

room. i do see some members on line under this item. all right. moderator if you could please let the first public caller in to provide comment under the executive director's report. >> good morning. thank you for the opportunity. i am from san jose. i would like to briefly touch on the comment made by the executive director with regard to -- i can hear lawfulling in the background. you're being recorded. . >> [inaudible] commented that the -- [inaudible] terminated and replaced by the executive working group. the [inaudible] subject to the brown act but the successor ewd is

not. there is no opportunity -- well, first of all in the agenda nor the minutes will be published and there is no opportunity for members of the public to comment on what is being discussed with [inaudible] either -- [inaudible]. in closing i hope that there will be some discussion of this issue when number nine is being presented to you. thank you. >> thank you. thank you caller. moderator next caller please. >> hello. this is bob finebalm. i was a member of the cac a while ago and i noted in adam's comments that with the milestones that have been reached that a public announcement is

forthcoming, and i would urge that not only a public announcement but also a public celebration be held because i think that many people have forgotten about this project. i know staff has been working very hard behind the scenes with the federal government and all, but it's kind of lost sight among the public so i would urge a very large, very public celebration of this project to reinintroduce it to a lot of people that may have forgotten about it. thanks. >> thank you caller. moderator -- chair gee that concludes members of the public under that item. we can go ahead and move. >> yeah, please. >> on the next item on the calendar is which is number six, the citizen advisory committee update and we have the cac chair brian larkin with us this

morning. >> . >> good morning chair gee and vice chair mandelman and board members. i am the aforementioned chair of the committee committee brian larkin and i am going to report on the meeting earlier this week, tuesday. our agenda included staff report and the portal funding plan and in conjunctions with other staff -- if i mispronounce i'm sorry but the draft capital budgets that rhodora harris gave the security report and the facility operations update were given and you have a good idea what they were like by now. alfonso rodriguez reported on the plan and elicited questions and comments. martip asked when construction starts. charles says

the bill wasn't fairing well with the met tolplan commission and with the proposed engineering value changes at fourth and townsend several asked that the design include pedestrian safety improvements for people leaving the station and transferring to the muni metro and other lines. it was asked about the engineering decision to remove the lead for the escalators and -- i said lead but lead and delay is more important and not see them immediately because we won't have the trains immediately. the hen encomprehensive report on the fiscal year 24-25 budget drew only complements from the cac on the fairness and level of detail and it was thorough and there was a lot of

detail. rode harris gave the security report. jocelyn asked if there were emergency plans for the demonstrations like the recent ones protesting gaza and martin said that last week's friday -- first thursday event was well organized and secure and it was supported by rode forces. ari gave the report on operations and included events for aapi month so after the items for public comment the future presentations the meeting adjourned until next month at which point i will see you again. >> very good. thank you very much for your report. directors any questions? i'm not seeing any. any public comment? >> all right. we will check for public comment in the room. i do see a member online. seeing none in the room for this particular item moderator if you could please let the public caller in.

>> hello again . i want to bring to your attention -- [inaudible] from the cac [inaudible] and comments made by members of the public. and this is very unfortunate especially when it comes to the case that a members of the public suggested solution is [inaudible] on the t lines with the [inaudible]. in the [inaudible] because trying to [inaudible] on the t line but moving forward -- well, i would like to appointment out to you this is unique to tjpa. the caltrain [inaudible] report includes comments from the public but moving forward what i

would suggest is that moving forward you include the minutes of this meeting which are quite remarkable. they're excellent as part of the tjpa board packet and i understand you only have two days and [inaudible] and board meeting so my recommendation to you would moving the meeting one week forward potentially to the last tuesday of the previous month for [inaudible] tjpa board meeting until next month. thank you. >> thank you caller. that concludes members of the public that wanted to comment under this item. go ahead and move into the next item on the calendar which is public comment and an opportunity for members of the public to address the authority within the authority's jurisdiction and. on the calendar today and we

have folks in the room for public and we will call them first before checking on lined much we have the first speaker and followed by paul. >> good morning members of the board and congratulations on your new starts entry. that's a great milestone. my name is emileo cruz and work for a minority small business and a joint venture business with another small business both headquartered in san francisco for 35 years. i speak regarding the protest to the award for ae-com for the contract and i spent my career in san francisco half working for the city of san francisco and organizations like muni, the port and the puc and the other half in the private sector n all my years in the private sector i never been involved in i protest want when we

contemplated the protest we discussed it at length and often mow winning and even if you win you may upset the client but which is a loss but in this situation we must challenge ae-com's actions and a number of relationships for the protest and whether they can objectively as the pm to california high speed rail and the interest of the tjpa without violating the conflict of interest policies you i will industries the flaring issue. on august 16 issues after the rfp and the cone of silence ae comp had a private event and all to the tjpa staff and lobbied for the contract and it was couched a small business celebration others were at the event the only two large firms in the contract. short contract -- tjpa was the only at the event

and the they didn't partake in food or beverage and not to have the conflict of interest. at what point did they have the thought and intentions of tjpa staff and had to have conversations regarding the issue in order to know this. [inaudible] and similarity during the pursuit and questions of the member and it was a public event in a public park. this is blatantly false. it was by invitation at a private restaurant and successfully sent a message to the industry that ae comp was the favorite consultant to the tjpa. they can call the event whatever they like but if it walks and cracks like a duck doesn't matter what you call it. we leave this important matter in your capable hands and thank you for your time. >> thank you. mr..

>> i am paul and the owner of my consulting group and headquartered in san francisco for 32 years and we specialize in mechanic programs with small business minority and women and lgbtq business and wonderful to see mr. wang at the event on the roof top of the tjpa. i'm here to invite the directors to a special event because on september 27 in 2014 the tjpa was the first public agency in the united states to reach out to lgbtq businesses. the event was to engage members of the community and since that event so much has happened. it's because of the tjpa because you are present to the small business community at

all levels you are creating change so we invite you on behalf of the 7200 members of build out california around the globe and join us on may 30 for the founder's day event and engage with you for every small business event because that is what the livelihood of san francisco is about so so thank you so much. >> thank you. we have another members of the public here with us, tyler sheldon with ae-com. >> good morning directors. i am with ae-com and senior vice president and run the transit rail division in the west here and it's a pleasure to be here this morning. i can categorically disagree with e milo and the claims. we look forward to the protest process playing out in due course and we are very proud of our partnership

with tjpa and look forward to continuing that so thank you for your time this morning. >> thank you. at this time we will go ahead and check for any other members in the room. seeing none we can check online. moderator i don't see any hands raised. i am giving folks online a moment to -- i thought there was one a moment ago. seeing no members wanting to comment under that item. >> let's proceed to consent. >> all right. your consent calendar is matters considering to be routine and enacted on a single vote unless discussion a member of the board or the public requested the item -- any item to be removed from the consent calendar and considered separately. we will go ahead and check for public comment in the room and online before calling the calendar. i see snow members in

the room and i see no happens raised. so directors with nobody indicating wanting to comment or having items you have three items 8.1 approving the last meeting minutes and the next one is approving additional minutes and 8.3 asking the executive director to have a gentleman the with retail commercial space in the transit center. that concludes your consent calendar. >> thank you. is there a motion to approve the consent calendar? . thank you vice chair mandelman. is there a second? . thank you director baptiste. >> please call the roll. >> (calling roll). >> okay. >> okay. for the

record i will go ahead and note that director syed abstaining from 8.1 and 8.2 and we have all in favor for 8.three. all right. with that the consent calendar is approved and we can go ahead and move into the regular calendar. >> yes please. >> item 9 is the san francisco rail program program update and we have the vice chair to present that to you. >> good morning chair gee and members of the board. i'm glad to present this morning on behalf of the chair who is away and the group as a whole and it was the last executive steering committee executive steering committee this is the raft report but this will continue through the working group and comprises of the same agencies and monthly reports are brought forward by the director reflecting the progress of the team and the advice of the group. it's a

exciting time for the portal and we want to extend our congratulations to tjpa and the entire partners team on the milestones of the fta advancement to engineering of the project and establishment of cig funding share. they're major milestone as we heard this morning. this builds on the medium high federal rating that the project received and recommendation for inclusion in the biden harris budget proposal for $500 million. these successful milestones demonstrate the effectiveness of the multiagency partnership and i want to add again our concretes and thanks to the integrated project management team, director rodriguez and all the other members for hard work and collaboration. there's much more work to do to complete the follow-upping plan of and move the project forward to construction and for some time the project accelerated work program has set

this ambitious target to fulfill the agreement with fta by spring of next year. at our spring steering committee we got funding and schedule in anticipation of the next item and we had a robust discussion to revise the target date ranging from 12 to 27 months as you will be hearing. we provided our recommendation to continue to advance the portal's risk management strategies and follow-upping plan this month but to continue the recommendation on the full funding grant agreement date to next month so next month in conjunction with the approval of the fiscal year 25 budget we will have taken up at the working group and provided a recommendation and with the federal share established and the updated schedule while under way our path ahead while challenging is clearer. in particular we will be renew work for advocate to fund at

the state level including highlighting the progress in the fta pipeline and the case for securing extension of cap and trade authority hopefully in the next few years. this will help leverage all the federal dollars in washington and the too many will be examining value engineering opportunities to close the funding gap. finally with the project advancing from project development to preconstruction we are all leading work to prepare the successor mou which we plan to present to the board through the staff for approval next month or thereafter very soon thereafter. the successor mou you will maintain the partnership from four years ago to deliver the portal and need to be ratified by all the members. congratulations to the team and everyone for their support and we are collectly committed to these efforts and the salesforce center. >> thank you for the

report and again gratitude to the team and it was a lot of hard work to get here and we need to celebrate as was said. thank you. directors any questions? any public comment? . >> i will check for members of the public in the room that want to comment on the item. seeing none. we do have some members on the line moderator if you could let the first caller in please. >> hello this is bob and i want to argue for keeping to the aggressive schedule. i think it's necessary. i understand the challenges that are involved, and i think that they are substantial. i agree with staff on that, but i think abandoning the aggressive goal would be a mistake at this time. really it seems as though staff is able and willing to continue

with the technical work that's necessary, and it's money obviously that's the problem. i think rather than abandoning our aggressive goal we should seek funding from the private sector, and i understand that's going to be discussed in the next item and i will defer my comments to that time. thank you. >> thank you caller. moderator next caller please. >> hello again. so the only comment i will add to the comment i made earlier under the executive director's report is that the issue of the lack of transparency immediately two months ago and specifically i highlighted the kind of issue this goods

with the project in the [inaudible]. all you need to do is doing with will [inaudible] transparency and all in the prep for you to read at your leisure. thank you. >> thank you caller. directors that concludes members of the public that wanted to comment on that item. >> continue. >> all right. moving to the next item? >> please. >> all right item 10 is update on the portal funding plan and schedule and we have adfondo rodriguez project director for the portal and staff including the chief financial officer who will present the update. >> good morning chair gee and board members. you will probably see a smiley project director today. hopefully it's not too unusual for you. i want to take the opportunity to thank board for your trust, guidance and confidence in the project team and i also want to say one more thing because there are many watching that aren't here. we did it.

we got here. and we're all excited about that. all right. so let me get to the presentation. our cfo and i will present this item. i want to point out the esc saw this item in the meeting in april. can you give me a hand. i think it went to -- >> [off mic]. >> oh okay. here we go. thanks. all right. in our presentation we will cover our progress on the accelerated work plan, procurement priorities focused on managing, construction risks and other measures. considerations for the full grant agreement target date. we will then address the funding plan and i will go over next steps. i think

the window keeps opening up. i am better at delivering a billion dollar project than managing a slide deck. since the board a departmented the accelerated work plan for the portal three years ago and developed with a target date of spring 2025. that's not that many months away we achieved nearly all objectives with the exception of demonstrating our commitments local share commitments towards the full funding grant agreement. now with that we gained entry to the first phase of the fta grant process known as project development. following that with them and the poc's assessment of our program readiness we obtained

a medium high rating and made us eligible for the fta recommendation for funding in the capital investment program and the result as you know the white house included in the budget to congress $500 million for the portal. last week the fta granted entry to initialing and opens the door to do updates to the management plans and advanced design and refine the cost estimate while completing local share commitments to request the start of full granting negotiations. there we go. progressive design build was selected in the project delivery study alternative method for design and manage risks of our complex civil and tunnel construction scope so it makes sense to continue with procurement and on board the design and construction team that will have us continue our work. as you know procurement of this contract has begun

and we've already short listed four teams to the top three rank teams and engage in the rfp process. we plan to engage the team this is summer and get input on the approaches that we're considering in the draft contract. at the end of the year subject on our governance stage process we will replace the rfp. the we recognize the importance of securing a design build contractor at this time to advance design during the preconclusion phase and focus on mit gaze risk and sevensing and schedule and the time it need for the acceptable cost to begin construction. so our approach includes also standing up an integrated project delivery team. with cal train the

general engineering consultant and the pmc once once it's awarded by the board and updated documentation and complete procurement documents and the packages for utility relocation and the work necessary at the fourth and kipping yard. we need to adjust the adopting target date that was established three years ago for several reasons. our work plan local share funding and engagement with the fta and the oversight consultant requires a full grant funding target noir agency budget indicates the level of effort and associated tasks reflecting enough updated target date. after our cfo addresses funding considerations i will show a table that shows the considerations are if the adjustment for a target date we will present to the board next month. observe that i wanted

to point out that tjpa through the our executive director has engaged our legislative leadership and state funding authorities and our partners to determine an aggressive yet viable path towards completing the local share commitment. this requires advocacy from partners and many stakeholders and our delivery team need to exam project scope to offset the impact of added escalation cost that come with an extended schedule. i'm going to turn it over to chemma to cover the next lied and then i will be back. >> good morning directors. looking at -- thank you. we're looking at this schedule funding plan. as everyone know with the great work of the portal team

the project enters engineering phase with the grant and federal share of 3.4 billion dollars and significant federal investment in downtown san francisco for which we're required to secure local and state matching funds. the pie chart displays the updated funding plan and funding gaps for the portal project with the new amount. as shown this allocation provides for 41% of the project. 729 million previously investment in the train box will bring the funding to 50%. currently committed and budgeted local and state funds provide for 1.4 million oh 17% of the projectef well --ing us with 2.75 funding gap equal to 33% of the project cost. in collaboration with our partner agencies we're looking for all

opportunities that could potentially provide funding to the project and close the gap. state commitment is the biggest piece of the gap that we need to secure. we aim for about one billion dollars in additional state funding through some combination of [inaudible] and high speed rail and future sources. our ask is 12% of the project cost and in line with the investment in mega projects. however, the primary source of revenue for [inaudible] is tjpa cap and trade program. the program expires in 2030 and doesn't have the current capacity for absorbing such large investment. the extension of the reliable rerevenue from [inaudible] and state cap and trade is crucial for the state to allow investment in long-term program such as high speed rail and other state

priorities. looking at the potential timeframe the earliest for this program to be achieved and this to be reauthorize side mid-2025 and until then focusing on advocacy and engagement efforts to hopefully secure accelerated commitments of funding to project. with the process ahead of us for the extension of cap and trade and also issuance ever the guidelines for application processing the grants and allocation of the funds we're looking at the earliest targeted funding by mid-20 26. with respect to local funding the existing revenue from property tax increments and community facility district have been instrumental for the transbay program and continuation of these funds is necessary. moving forward in partnership with city agencies we will focus

one is curing a longer commitment of property tax increment and exploring additional development contributions. this will solidify san francisco's share bridging the gap for federal investment in this project. we're proposing to form a working group in partnership with the san francisco county and others to advance local sources and report to them regularly. if approved this would authorize placement of the measure as early as 2026. mtc is leading the engagement on this and the priority is to stabilize transit operations. it could potentially include some capital funding components. this reserve is a very uncertain source for the funding for the portal. if

it's placed on the ballot and includes capital funding and successful at a minimum number of 27 to 27 months is required for the november 2026 measure to potentially commit funds to the portal. finally with respect to the further federally funded resources we're seeking non capital investment grants including those that are authorized by bipartisan law and [inaudible] and federal programs. our submission for these grants last year was not successful. tjpa has submitted its application for this for 2024 with endorsement from mtc and in the process of preparing its operation for 2024. tjpa will continue to seek funding in current and future cycles with the project -- where the project is eligible

and potentially competitive. however, even with adjustments to the project schedule there are limited number of current and anticipated grant cycles that we could apply for. with that i will turn it back to adfonzo to talk about the funding for the portal. >> a well, so there's a lot on the slide i realize but i would like to cover the highlights and tjpa with its partner agencies examinedded a 12, 18, 24 and 27 month scenario which is an extension to the target date of spring of 2025. that's what those scenarios mean. and when you see the fund opportunities that were discussed and when they could possibly materialize the 27 month scenario seems to stand out as the most viable

pathway. through the engagement i mentioned we have a beard understanding of the existing funding sources so that's why we did point out that the 20 month extension to the accelerated work plan makes the most sense but we do need to demonstrate to fta our ability to fully fund our local share when requesting negotiations so bear in mind even though we're talking about a 27 month extension to the date i am actually talk when we expect to sign the agreement. six months before we expect to sign we need to request negotiation and at that time we need to demonstrate that we've got full local share availability, maybe not entire commitment, but we've got our full local share plan completed so there's a six month lag time to when we expect to sign the funding agreement and since any amount of delay to construction simply increases costs we plan

to offset as much of the increased cost that we can and we've considered cost containment measures from configuration changes and we begun looking at those and with the engagement with them and we will bring the changes to the board for your consideration. let me talk a little bit about the scope modifications. listed are three of those that we began to discuss with i pmt and total up to $375 million alone just for the three and reduction to overall project cost estimate they involved elimination of the eastern station and the salesforce transit center train box. further reduction to the pennsylvania avenue extension and for the reduction would leave a functional link to allow seamless or fairly cut over to the cal train main line while in the tunnel so we're not reporting that cut over

functionality with this reduction. and then high speed rail vertical circulation elements deferral and that's due to the time we expect between the portal completed and in operation to when high speed rail is available to connect to the portal project. other cost measures cost containment more thans that we're discussing include what the fta calls sidary mitigation so you might hear me say that in the future and include adjustments to the current cost estimate which by the way was developed almost two years ago. taking into account the escalation we experienced and less than assumed and what was adopted and other fig configurations and the townsend station which you will hear about soon and other value engineering

considerations that we expect to develop when the progressive design build contractor comes on board. all right. so what is needed and you have heard this time and time again. you will continue to hear this and continued advocacy to enable legislation and funds sours is needed at the state, regional and federal levels and at the state level we will ask ooze was pointed out to extend timeframes for the funds sources where the portal is very competitive. for example the cap and trade program. at the region level to advance to the top tier of the advocacy policy. now that we've entered into engineering we're set well for that advancement and of course there's a couple of local opportunities that will require further advocacy. so as i mentioned this was presented to the. sc and --

(paused) and supported updating the master schedule once the board adopting the funding grant target date which we expect to bring before the board in june and one more slide left and the look ahead that you can expect at the board. in june as i pointed out or actually what you do know we will -- staff will ask the board for consideration to adopt the fiscal year 24-25 budget. we expect either at the june meeting or shortly thereafter to approved successor mou and take action on adjusted target grant date. there will be other significant items that appear the board in subsequent monthing and adopt the secondary configuration changes that will work through the [inaudible] and the executive working group through the process we're establishing, an updated master schedule by the end of

the year and then of course with the successor mou it calls for the establishment of a portal committee to the board. this concludes our presentation on this item. we're available to answer your questions. >> thank you for the presentation. directors any questions? vice chair mandelman. >> thank you. thank you for the presentation and congratulations again on the good news. i guess -- i mean not to be the bucket of cold water or ice water in the conversation but i do feel like the news is actually a little mixed in that we now have a path to more than three billion dollars of federal money which is great and necessary, and we also have an almost $3 billion and growing gap, and although you know the

optimistic opportunity of moving forward in 2026 and the extraordinary something something next year and the governor and the legislature renewing cap and trade early and if they don't do it next year it feels like 2027 and 2026 is really 2028 and our costs have gone up somewhere between half a billion and a billion i think, and so i guess i'm a little -- i am both encouraged by the news and also feeling like there's a lot of risks right now of blowing through a lot of -- spending a lot of money and getting ourselves quite far out, and i believe this will come together at some point but i'm concerned,

and i just i have no -- i think it was very clear when trying to get this commitment what our goal was, and i think now there's like a lot of potential different paths and not a lot of clarity -- i mean at some point we could revisit the p3 conversation. maybe prior public commenter or private investment that could come in if we structure it a different way. there's different matses to get to three, three and a half, our $4 billion or whatever it is but i do have anxiety and i'm an anxious person but i have anxiety about the pat forward and i'm wondering if you guys want to speak to my anxiety? >> i don't know that i am certified to speak directly to your anxiety. >> help me doctor. >> a couple of comments. so first of all we're

picking a target date here. it's a target date only. if we can beat that target date we can avoid escalation and get into construction sooner and obviously our goal so everything you're presented with today maintains our foot on the accelerator with accelerated schedule with all of the technical and funding work. it's our collective desire and a big discussion at the executive steering committee to go into construction as soon as possible to avoid that escalation hit which can drive the difference so a few things. the items that are challenging, the federal commitment is outstanding at 3.38 billed. there is only a handful of projects in the united states that have that level of commitment so we should be proud of the fta's confidence in the work here and represents

41% of the total budget. we requested 49.four awe will recall. i met yesterday and the day before with senate banking and house tni and our federal leadership. four large projects in the capital investment grant, a federal commitment in the low 40's is expected and standard so we knew we were going on the aggressive side. we had to be under 50 to get the medium high rating and to proceed but we knew we were pushing at the upper end of that at 49.four. coming in at 40 adds to the delay and gap. and you heard director rodriguez present we haven't heard many of the scope value engineering opportunities and those opportunities don't impact future ridership or the impact generational benefit of this transformal project and items that were considered years

ago we can determine we can deliver the same ridership and benefit without including them for instance the train box extension was to accommodate the train and future operating capacity and 16 car train running across the state of california n that future capacity we can accommodate that train in the salesforce transit center without have an adjacent track and pushing through the other side of beale street. that is significantly less excavation and the built environment around there and with a future link 21 connection should they come out with rail out of the east end and we're working on elements of that. the deferral of the vertical circulation as the public commenter said is not elementination and taking out of this grant and moving to a

different time. we want to put in parts with a useful life and warranty period until we put them into service so there is disadvantage of putting that into a high speed rail platform before the stated date of arrival and those read considerations we're working on. you saw $375 million list of items that have gone through our [inaudible] and the working group. there's an additional equivalent a month and others under consideration that we will bring in detail so we can absorb some of the escalation. i share the anxiety and risk going forward. we're having conversations with sacramento leadership about cap and trade extension. we're not the only beneficiary of that conversation. i know high speed rail is looking for a dedicated source as a beneficiary of cap and trade as are projects across

the state. not to minimize the challenge ahead to the legislature there are hefty policy decisions and do you extend for 10, 15 years and maintain the percentage split across the projects and is it operations, capital? we're hearing from leadership those conversations are warming up now and likely to get traction in 2025. non election year after they have gone through statewide concerns with insurance carriers and budget deficits it's really to pick a target date in 2027 and allow the process to conclude in 2025 and through the rule making and grant making through them and get an award of that size. as presented a billion dollars is a good chunk of that remaining delta but it's very much this line with other projects. it's actually on the lower end of

percentage range of hard costs but in line with other mega projects across the state and we will continue the conversations with everyone and leadership as they wrestle with the conversations. i don't have long fingernails because i share some of that anxiety but the main thing we want to do is be strategic and aggressive and also transparent so you know where we stand and activate you and also maintain the confidence of the private industry of and our funders as we work to close that gap and get this into construction. >> thank you. director lipkin. >> yeah. thank you and i guess just to comment on your comment as someone who worked for a while for a agency with a large not fully funded project i guess this feels normal to me is maybe -- >> oh no.

>> -- one of the comments and the other way to look at is inflection point up and to this point the progression of tjpa work was within the collective control of the six agencies working together and now we're entering the part where legitimately it's not the technical work that is the thing holding us up. it's purely funding and as the presentation laid out none of that is in tjpa's control. it's all external decisions so i think it refuel ats what is the needed efforts from a technical delivery advancing perspective. i mean some of that still has to happen but much more is on the advocacy, on the policy, on the political side of things and i think that's the -- that's what is happening today. we have the confident of the federal government. 3.3 billion dollars commitment is huge. i mean it's an enormous contribution towards this so we shouldn't

kind of under estimate the importance of that and that flag of federal government is in is important in level life other sources. i will tell you that the state is. >> >> and the federal government to put in its part to secure federal funding for processes across the state and great from that standpoint and big list and i think your anxiety is correct. i share it but i guess to me this is short of felt normal from the vantage point that i sit in. >> thank you director. director baptiste. >> thank you chair gee. i want to say for the record i don't have covid but i do have allergies so apologies for all the situation over here. so somewhere in between these two -- the question that i

think does sit between the control of the tjpa very specifically is how we time our expenditures, and i am wondering if you can speak to -- on the one hand i will there is benefit to the continuing development of the projects because when we put it on a shelf it becomes less real to everybody who needs to make decisions about actually funding the project and allowing it to move forward. on the other hand i look at what we need in 18 months to get everybody ready for implementation, but we have a target date that is maybe it's 27 months but to my colleagues' point -- i don't know if i should call you director or supervisor. to his point maybe it's not and maybe 36 months and when do you press go on the expense side so that we are continuing to show

progress, continuing to build momentum and not do work that becomes stale or we have to spend the same dollars twice? >> i appreciate the question and i know this is something that i heard you mention in the past. what we would need to be to be able to come back and show in a wholesome way is allow us to go back once the board adopts the target date and do the work plan and something we need for the successor mou anyway. it's something i look forward to share with you so this board can understand the various elements that need to progress and the level of effort to your point that is involved to allow that to happen without bringing on additional resources that we don't require. now, balance that with what happens if we're successful earlier. i need to have the contract capacities in

place to be able to advance. our team has demonstrated -- we have demonstrated that we can move through the process rather expediently. what you might not know the progress getting to engineering was rather quick, but we think we can do that again but i do need to develop this work plan and it's very difficult to do it without a target because that full funding grant agreement allow us to unlock a number of things. it allows you to begin the heavy construction and until we know when that happens i can't properly plan and develop a work plan so allow us the opportunity to develop that to you, present it to you, and maybe happy to discuss the concerns that might appear at that time. >> if i could add a little bit to that. one of the criminals is sequencing. if we

have a known full funding grant date we need to back into that with the preprocurement, our right-of-way acquisition, our on boarding of a progress design contractor to advance design so everything is based on a target date. it's only a target as mentioned there's some outside of our control elements that will shift the tag the one way or another. we hope it shifts it forward and we're prepared to take advantage of that opportunity should it come to us. our focus within the agency is really on the advancement of durable goods so things like the master cooperative agreement with cal train as initial operator is an intensive level of staff effort but it is not a preprocurement or commitment to demolition of building or another thing we want to do more just in time of that grant agreement so we want to continue the pace on those. what was covered quickly in a fairly dense presentation on slide four was our

intent to get the progressive design build contractor on board. to do that we need a run way of funds and $75 million to advance that construction work and take advantage of that unknown timing and opportunity. yesterday i met with the fta and both thank them permanently for the 3.38 billion and substantial investment on behalf of the federal government and clarified the old days in cig is the sole source and not applicable and under the bipartisan infrastructure law more projects are seeking funds through mega and other pots of funds. we just submitted on friday mega application for that progressive design build to continue the design from where it is today at 30% all the way up to coninstructable 100%. if we're

successful in that extraordinarily competitive grant program and award nine nationally in the last cycles and allow us to move that forward and bring the missing voice to this discussion which is the one who would build it. they would be able to tell us we would use this method, this phasing, more efficient method. we would need this area for lay down, all the details that we estimate and work through with the consultants but would love to have those actual entity performing the work confirm and validate so the real challenge for us is things like right-of-way. we would love to be part of this market. it's the best market for right-of-way acquisition in san francisco that we have seen in 30 years but i don't want that to come at relocation of an actual business downtown unless i have a project with a clear schedule so there's the timing questions we're working our way through right now.

>> thank you directors. any other questions? >> i will just make a comment as someone running the mega project of the seawall and we don't know what we're doing or getting the funding and why i was bullish of congratulating on this milestone but the question how mega projects that are not fully funded or rate base or way it's obviouslyious to close the gap how they advance and ensure it's really a positive expenditure of public funds because they're competitive dollars so i think this conversation is incredibly a very good conversation and one we should continue to have as we move through this project together gauze the kind of granular timing and phasing strategy you're describing is exactly what we need on a project like this and i want to say this is a rich conversation andic thatting it home

for the seawall program. >> thank you director forbes. you have been i think given the scale of the projects whether the seawall or the portal there is an uncomfortableness because it's not fully funded whether it be anxiety, uncomfortableness. impower living in the gray because there's still a fair amount of funding still needed and yet to come based on the actions of others but what i think gives a little comfort is the type of project we have is that we want -- there's benefits to keep going, getting the team, having a continuity of staff, not having the start stop because if you stop getting same team back is a iffy proposition, and with the selection of the delivery method progressive design build we can learn more and hopefully value engineer or get smarter about how

to do this. i'm a lot more comfortable this is not a building project and start and stop and eight year delay i am making that up or even four years projects don't have a unlimited shelf life but we have a better one given this type project and the message i think this board is saying we're anxious, uncomfortable, cautiously optimistic but we also want to be good stewards of taxpayer money to not get ahead of ourselves so this board will exercise and wants to be informed and exercise our responsibilities to kind of slow down if we need to or speed up but also have the continuum of the organization of the staff to be able to do that as good things happen so having regular updates at this type of level will be helpful to know where we're going and that

we don't get too far ahead of ourselves and we can be judicious and not find ourselves surprised in a year or two, so i think this has been a rich discussion at the board level. i am glad it wasn't in the next steps that the board has to serve continuously until the grant is signed but i think this board is doing its responsibility very well to asked these questions and to exercise this responsibility. >> i can offer one additional thought to ease my own personal anxiety and if you have the time and capacity may yours as well is learning from others' experience and obviously we're very focused on the other mega projects of similar scale, scope or type here in the bay area and that includes central subway our cfo did the close out for so we have that direct connection and

participating in this and triple-a council of california electrification that we some celebrate and reached completion last week and preparing for revenue service in september. bart for capacity and part to silicon valley. many of you know the director came from sfmta a colleague i have worked with and we're in communication and i texted him what might inform his efforts and others that are further a feed but instructive. there are excellent books and podcast from the big dig to the high speed rail and authority in a jpa to solar, wind, hydro, tunnel, rail, highway projects around the world and the challenges they face, and i've gone through more and more of this and i have read a lot of this in the last few months it really does under line what director lipkin said

this is not unfamiliar territory for a project of this size and scope. they're large transformational generational investments that come together and challenging at times ways but almost worth the effort and last for decades upon completion and that's kind of where we are and we want to make sure we're learning from others' successes and challenges as we look to do the same. >> thank you adam. any other comments from directors? if not public comment. >> all right. so i will checked room for public comment. i do see we have members online. no members in the room wanting to comment. moderator can you put the first caller through. >> yes hello. this is bob. as president of save beauty we were one of the submitter ofs of support for the mega

application and i certainly hope that comes through and however listening to the projected budget presentation i saw no mention of support from the private sector, and six years ago when i was on the cac that was an issue i and certainly other people raised and there were nodding heads in the room but evidently no progress has been made in that direction therefore i would suggest respectfully suggest that we need to have on board is a fundraiser who is experienced with raising large sums in the private sector. there is no question that this area which is home to mega corporations and very rich individuals could, could, fund that two billion dollars short fall. the question is how to go about doing it? i think

staff has done a wonderful job in working with the federal and state agencies. however, now we need to on board a group who has substantial experience with raising large sums from the private sector, and i would urge you as the responsible directors to do just that because the money is there. it just needs to be tapped in the right way. thank you. >> thank you caller. next caller. >> thank you again. before getting into specific i really want to give my deep appreciation to vice chair mandelman and [inaudible] reality to the conversation. with regards to the previous commenter's comment i would like

to remind you between l.a. and las vegas and [inaudible] dollars will match $9 billion in private investment. [inaudible] but some of it [inaudible]. the thing i really want to bring your attention to is fact [inaudible] presentation. we show the train box for $729 million which earlier was characterized as some kind of local match. you may recall a members of the public question how could we use the funds to match? [inaudible] decided not to -- [inaudible] [off mic]. which was [inaudible] billion dollars by the [inaudible] and this is now -- [off

mic] our federal government [inaudible]. 41%, not 49.four so in closing my recommendation once again is go and study what [inaudible] did in and how they got 73% by combining projects into a single [inaudible] billion dollar project and in about four weeks from now. thank you. >> thank you caller. that concludes members of the public that wanted to comment under this item. >> continue. >> all right. the next item is item 11 presentation and public hearing for draft budgets for fiscal year 2024-25, operating budget in the amount

of $27,616,660 and capital budget for the portal and capital maintenance, repair and replacement in the amount of $99,006,700 and the debt service budget in the amount of $15,702,535 and we have our cfo to present. >> thank you. hello again directors. i am the chief financial officer presenting this calendar year 24-25 operating budget and capital budget. i hope you're not tired because we're talking lots of numbers now. look at the bottom timeline n accordance with your budget policy staff operating the operating budget projection in january. budget outlook was presented to the board at the april 11 board meeting. the proposed operating budget and capital budgets in this meeting are for review by the board and for the public hearing. staff will seek approval of

fiscal calendar budgets in the june board meeting. fiscal 24-25 draft budget includes a balance operating budget of 27.6 million and includes revenues and expenses associated with the operation of the transit center. a capital budget budget of $99 million consists of budget for the portal in the amount of 89.2 million. at any timants improvement budget as cite capital maintenance, repair and replacement budget of $6.3 million. the draft budgeted dollars debt service budget of 15.7 million for authority tjpa's tax allocation bonds. all budgets are subject to further refinement and feedback from the board and public before the final budget is presented in june.

the operating budget of 27.6 million in the table is reduced by 458,000-dollar or 2% compared to the primary budget. this is due to some adjustments we made in administrative costs, insurance and digital management to align the budget with more realistic expectations. we will get to the details in the next few slides. with respect to operating revenue the reimbursement of that tjpa receives from rm2 and three funds has been instrumental. the rm2 allocation for fiscal year 24-25 includes 6.2 million for the allocation of rm2 fund and 2.4 supplemental funding from mtc. the annual

allocation is drive by the base revenue and plus 3.5% escalation in the legislation. the supplemental funding from mtc is additional temporary allocation due to the impact of covid-19 on downtown san francisco economy and consecutively to the transit center operation and revenue. fiscal year 24-25 is the last year of supplemental funds allocation. however, tjpa and staff will continue to request continuation of the funds from mtc and their staff has indicated that the system could be continued following review of the transit center's financial situation. the rm3 allocation request of 3.7 million is based on a percentage of the actual [inaudible] in fiscal year 24 that came to tjpa adjusted for the 1 dollar additional increase

started in january 2025 and tjpa receives [inaudible] from the cost associated with the operation of the roof top park with the management plan. tjpa expects to receive 1.6 million dollars for fiscal year 24-25. in addition to the bridge toll funds contribute to the operation of the transit center s this contribution is derived from the difference between operating cost and revenue per the lease and use agreements. the allocation of rm2 supplemental funding in fiscal year 24-25 offsets the contribution from the transit operators and funding is crucial to maintain the consideration is steady. in addition tjpa staff is dig lengthily working on a strategy to decrease transit center operation costs and increase operating revenue and thereby minimizing the

allocation of transit operators and includes the operators contribution and the same amount as the preliminary projection. in addition to the reimbursement and transit operators contribution tjpa generates revenue through retail leases, salesforce naming rights and advertisements and sponsorships licensing fee and rent from greyhound. these operating revenues are projected to be about 8 million which is slightly more than the preliminary budget projection. retail revenue budget is based on the lease agreements, rent abatement and estimated tenants opening days. advertising revenues, sponsorship and events are adjusted to include the expect the revenue from a new program in the transit center for private events.

operating expenses include cost associated with the day to day administration of tjpa and operation of the transit center. administration cost includes staff salaries and benefits, general office expense, worker's compensation and employer liability insurance and special tax assessment which are shared with the portal. tjpa administration of 3.6 million dollars include contracting services for legal and financial consultants, public relations,adits and other specialized services. this budget is adjusted to account for only expected fill position in fiscal year 24-25. that's why you see a slight reduction from the preliminary projection in the administration line. security budget covers physical security and security system. retduction from the preliminary budget is due to moving some

projects to capital maintenance, repair and replacement and to facilitate the budget to accurately account for the cost based on the nature of the project and also the contract. digital content management sup dated to reflect a less need for trouble shooting and monitoring for health structure as a result replacing 200 media players with the recently received grants. new program for private events will be managed by brb and expected to bring more revenues in the future years there is no impact to the roof top park as a result of this and from the insurance provider came at the lower amount than january forecast. as mentioned before tjpa also received ginsburg for the operation of the roof top park. according to

the memorandum of understanding within the east [inaudible] and tjpa park operating expenses that are reimbursable by the assessment are categorized separately. the draft budgeted whichs $2 million for park operating cost shared with the [inaudible] as shown in the table. fiscal year 24-25 park budget includes 15,000 for security services for crowd control at large events at the park. day to day security services are not included as shared expenses in the park mou. emergency reserve is set at 500,000-dollar as mand ated by reserve policy. the research is projected to be funded at 22% of the operating budget in the amount of $6.2 million. in the previous presentation of the preliminary budget and budget out look sfgh is

forecast to be funded at 25%. however due to a calculation error in the fiscal year 24-25 budget the reserve beginning balance in the preliminary budget was over stated. fixing that occur resulted in adjustments to reduction to the reserve ending balance in fiscal year '23-24. we back filled $1 million with fund balance so the current forecasted reserve is 6.2 million or 22% of the operating budget however we're evaluating opportunities to bring the reserve to 25% to adhere to the reserve policy. capital budget for the portal. as presented in the portal funding plan and schedule update to access [inaudible] there is i

funding gap of 2.sech that must be filled. . portal budget of 89.2 million is based on a work plan assuming the gap won't be closed sooner than july 2027: budget provides for program and construction management services advance design ask construction procurement supports coordination with other public agencies and third parts and continues right-of-way related activities. the budget includes the fund sources that are programmed or allocated to the tjpa. staff are working with staff partners to seek the funds seeking discretionary funding from various sources and not federal grants and actively advocating for the state and local share of the funding gap. the portal expenditure includes

5.4 million dollars for tjpa staffing and administration which is cost shared with the operating budget. as well as payment for the legal counsel and others and advocacy. the engineering and design includes 15.7 million for program management construction management contractor to support the program requirements such as project controls and reporting, grants, application development, design and risk management, value engineering, procurement and preconstruction support, community outreach and interagency coordination. 2.5 million for general engineering and design contractor to progress design work for utility relocation including trenching preparation of the yard for packages "a" and "b" and track system designs and coordination with operations and

operators, utility companies and other authorities having jurisdictions. the 4.9 million dollars interagency coordination includes coordination with cal train under the current agreement and on the development of the future master cooperative agreement. it also includes coordination with san francisco county departments to advance the final design. tenant improvement budget of $3.3 million funded by tjpa on une stricted fund and by in lieu rent and allows tenant to reduce rent for the [inaudible] allowance. the budget includes leasing commissions and for project management oversight. the plan landlords work include the roof top space and allowances of $2 million is included in the leases

after approval by the board or executive director as permitted by tjpa board policy. the 24-25 capital budget includes 6.3 million for necessary capital repairs and replacements to ensure the transit center's assets are kept in a state of good repair. funding is provided from several sources including federal community project award secured by speaker pelosi for improvements and funds from the previous award and a new application for security maintenance. funds for park improvements and the contributions provide for work related to parcel f and the capital replacement reserve will fund facility and infrastructure maintenance projects. the capital replacement reserve was

established to address the transit center's life cycle needs. the reserve balance is approximately $28 million from the 2020 bond sale and interest earnings. staff continue to develop a capital improvement plan known as cip to plan for future projects and facility enhancement and as allows and recommend updates to the policy adopted in november 2022 to allow for a five year financially constrained cip and 20 long range capital plan. the last piece of draft budget includes a debt service budget to pay a schedule principle and interest on october and april 1 with the net impact of the pledge to tjpa 2020 tax allocation

bonds. until october 2023 the tax increment revenue were used for the mandatory reduction of [inaudible] bond and as repaid in full in october 2023 the receive new will be distributed to the tjpa for the transbay program. this funding is expected to be projected to be $14.4 million. the debt service budget includes mandatory reserve of 16 point 4 million and the fund balance. with that i conclude my presentation for the budget draft and i am happy to take your questions. >> thank you and your team for all the numbers. you did give us a heads up that we would see a lot of number and we did and i wanted to thank the operators and the neighborhood and without all of us working together we would have a different kind of problem here. thank you.

directors questions? comments? director baptiste. >> thank you for the presentation and a lot of detail and i appreciate your diligence with it. i did have a couple of questions. on the portal capital budget i thought you said much of the funding is secured and some is still outstanding. first of all was that correct? >> sorry. >> on the portal capital budget i think i heard you say some of the is secured on the capital side and that correct. >> some funds are allocated through the programs and then we just need to like to submit the application for the details for the refining scope and bring the funds into the house, yes. >> okay. thank you. that answers that question and then on the reserves i know it is so hard to actually meet a reserve policy but i am hoping

when you come back in june you can either describe what the pathway is to meet the reserve policy for this fiscal year or how you might get there over the next fiscal years. >> actually i have an answer to the question and when i was developing the draft budget i learned about this error in 23-24 budget and over stated the end balance and i was thinking how can i back fill this so we're doing an effort to calculate the actual fund balance in our like the across the operating funds and have that number in june and currently with the current data i am at $6.2 million but with theeration of fund balance i am optimistic we can bring it to 25% and i will show that in june. >> okay. >> that's what we're doing now. >> thank you. >> very good. other directors? i will add i am really supportive of five year cip and 20 years i can't think

20 years from now but at least five and 10 so we can plan whether it's financially constrained but we need to know what we're doing and going and what we can and can't do so i am supportive of that. >> yes thank you. i am very excited about it and i am working hard. >> thank you. >> director this is is an information item and bring it back for action the next meeting and i want acknowledge the hard work and the finance team. you may tell by the detail presented today it might be that she has been with us for years and not three months yet and working with the team that is simultaneously producing payroll and grants and coordination and i whole series of audits and other thing and a tremendous amount of work went into this and i want acknowledge that work. >> thank you. >> public comment. >> yes we will make sure that this is public hearing so we

will confirm whether or not there are members in the room that want to comment which i don't see and i don't see anyone online wishing to comment on the item either. >> very good. so i believe this this will be back next month for approval unless there's anything else i believe that concludes our business. >> that's correct. >> right? >> that's correct. >> thank you everyone. meeting is adjournd and we will see you next month. thank you. .

>> (music). >> my name is package scott i'm a general manager and vice president of the yerba buena ice skating and bowling center. >> we opened in 98, we are celebrating our 25 anniversary. the last ice relation at 48

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everyone to safety. >> folsom street in san francisco south of market home to some of the fill pens and lieutenant governor culture integrity and major it 25er789 and decisions the streets originally developed for industrial activity and move vehicles and goods through the area now the area is a culture at that particular time economic and residential and has more people walking and biking and taking public transit the folsom goals include improving safety and for walking new street trees

and ailed street light. thank you very much. sass decorative crosswalks and part of vision zero high energy network part of the 12 period of time of streets in san francisco that gets 58 percent of cashes and industrial challengers pedestrians not sign by car vehicles and walk to block to block bicycle challenges the future bike lanes in full protection next to the moving vehicle and no way from vehicles to park in the bike lane and with the people thank you for the opportunity right creating unsafe actions at the folsom will include for a moment from 2 to 11th street two-way

abag and medians and transit only lanes and street crossings and beverages and now street trees and landscaping the folsom street part of the greater effort to howard street and went there a three year public engagement set the record straight in 2016 improving traffic safety to people walk and biking and folsom street within second streets yerba buena benefit district is a significant tree place no our neighborhood home to the residents. it provides access to the gardens that includes children's facility and have a traffic hub and offers buildings and small businesses and a lot of excellent restaurants as

well. so insuring that into it is safety for the variety of entertainment is important and the be available improvements insuring the safety for transportation and the measure to keep contract at a safe course for drivers as well as pedestrians who walk along the streets we the the hold outs an excellent amenity for our seniors and children for the streets and provide opportunities for businesses for amenities and beneficiaries to enjoy the neighborhood outside and, of course, the graphic crooks is exciting to us as we pride ourselves on the hub of san francisco and bringing in those additional artistic elements that safety officer as

safety features for biking and some of the filing pens directors think that residents and community work in the south of market work with the sfmta to help with the straight projects and access to address pedestrian safety when it comes to biking and the transportation network and making changes that address the high speed of cars impacting some of the sidewalks. and she states we're excited please keeping and place making component like and some of the street signs and proposed giveaway will be bio street neighborhood improvements to the today's experience of residents and community members. and the sfmta is partnering with sf puc and a contracts engineering for improvement only folsom street and it is expected to begin in

early 2024 the project team will work with the community and for outreach and businesses and openhouse in here stay tuned as we describe for watching. >> pay by mraft parking meter pay for parking in san francisco and the video/show you how to do that the first one is no traditionally parking instead of the pay by played has instructions and options to activate the screen press any bottom or press the language bottom and enter the license plate or the last 5 numbers of

identification and press the great check about how many audible convicted is to be using to adjust the time and press the marx bottom to select the ma'am, time allowed and after you select the parking duration asked to pay pay users coins or smart phone or debt or credit card tap that on the reader or insert to the magnetic strip and if you're paying by smart phone with apple enter k once you pay the meter will send out a receipt and alert any control officer i have paid an ordinance to make a phone call cotton

866490 and enter the 10 digit forbes or press the star and enter the pin and at last four digits of the credit card and the number of the minutes and at the end of the call audible hear he payment successful. and finally, there are no refunds if you return to our car hsa and that's it you're all set the license plate will only be saved for the duration of our parking time check for the area and show you're parked legally and they're an easy way to pay for parking. >> we hope this video has been helpful thanks for

>> we'll get going here on today's summit upon agenda. welcome to the night life and entertainment summit brought by the san francisco entertainment commission i'm mental health executive director of the commission. if i don't know you come up is say hi at a break. i would love to feel get you >> you bfrment reflecting on the journal themarks the 14th year we hosted a sum tit is significant to note that we now have been a commission for over know 20 remarkable years. we are still celebrating that and excited about it. >> commissioners. if you could briefly