the new wonderful grand central station of the west coast, it is the building of this wonderful new community, and we are here today to hear about that. the other reason i am here today is because i want to express my pricks' tuition to merely, and staff for the hard work that has gone into bringing the plan before you today for your consideration. as you know, we have four city blocks of their construction today. we're building phase one project, which is the station. we're building a station to accommodate 11 different transit systems and accommodate future high-speed rail. we're building a station that under local and state law were mandated to accommodate all different 11 different transit moats and to build this wonderful community. just to give a little bit of background, a number of years

ago the state department of transportation transfer the transbay joint powers authority. 12 developable eight goalacres. without the ability to sell this land, we would not be able to complete the project. there are a number of social considerations involved today in supporting the transit district plan. one is the city of san francisco need to sell the seven portions that were transferred to us at no cost by the state of california to complete the bill of the transit center station itself, which is now under construction. one of the very first properties weaseled recently was to allow housing for formerly displaced housing. senator byrd, when he was president of the senate worked very hard to include housing on site, but we need to sell the other personal, which is part of

the transit center district plan in order to consider -- develop the project. the tax income generated over the life of the redevelopment plan for this project must be used for hard and soft causes. we are using the money to pay for $170 million that the federal money gave us so we could start reist construction. we're 20 use it for subsequent months from the federal government to build the rail extension. in addition, the metropolitan transportation commission recently -- recently approved a plan that includes the real extension for the project. in a line item, there is joint development from this area plan. again, but for the get the the state of california gave us, we would not be able to build the transit station and his

wonderful new neighborhood that will allow for amenities that a new community needs, retail commercial, housing for persons for all demographic walks of life. i would like to you to consider that. also, when you have projects under construction, it provides tremendous benefit to the community. from our project alone, we have been able to employ over 2000 construction workers, workers that did not have worked before. we're working with youth to provide a french ships in internship program so they learn about architecture and engineering and the various disciplines needed. we recently also partnered with michelle obama and her joining forces program to provide opportunities in the trade and management for veterans that are returning to civilian life. that is what construction project can do. we are requiring contractors to provide these opportunities to use and veterans, women, small

businesses in san francisco. it is a tremendous consideration. i was also asked to come before you today because a number of commissioners had not seen our brief video of the project really puts into context and perspective everything we're doing. peter did this at no cost because he believes in the project and believes it is a wonderful project. before it showed the video, i want to thank the congressional and state leaders who worked so hard to get the price to where it is today in to get us to today's milestone. all of our congressional leaders from the east bay, peninsula, because the project accommodates transit corp. all area counties. i want to think state leaders to a work very hard. of course, president obama who

most recently granted as $400 million to the city of san francisco so we could start construction of the station on time. we are on budget and on time. ed i would like to present the video. thank you. -- now i would like to present the video. >> the former station located at first and mission streets -- just one block south of san francisco's market street was built in the depths of the great depression. it is being replaced with a new optimistic expression for our future, a new multi modal transit center that is modern, efficient. the old building was built in 1936 and paid for with [inaudible] it had electrified tracks and

transgendered that ran from san francisco to the east bay. there were operated by companies with romantic names. in 1946, the heyday of rail transport in the united states, 26 million people used the transbay terminal each year. the transbay terminal was converted to a bus-only facility. the former transbay terminal have the hollow is transit kick of it -- connectivity in the region. it also served service throughout san francisco. golden gate transit, a greyhound service connecting passengers

throughout the united states. our transit service for the disabled. however, the facility does not need for future transmit -- trans operating needs. or the growing commuter work force in the bay area or state of california to bring back the glory of the original tunnel and plan for more sustainable future were people are not dependent on automobile, the transbay joint powers authority is built on new multi modal transit centers into construction phases. the first phase includes building a new transit center designed by great clark. it also includes the construction and operation of the temporary kernel for the current operators to use on the new station under construction. the bus storage facility will also be under the west end of

the bay bridge. in the second phase, it will be 1.3 miles from the current terminal directly into the new station. this line will also serve california high-speed real. this has connections to the nine bay area county and 11 different transit operators, including new high-speed rail from southern california. this will bring new housing to enable -- to a new neighborhood. the land is being transferred to san francisco and the transbay joint powers authority for the purpose of building the new transit center. the new high-rise residential building and the new office tower. the proposed power neighboring the transit center will bring

many jobs to the area. the transit center is five levels. the deepest level handles inner- city high-speed rail. the lower concourse level includes retail activities. on the street level, buses board passengers quickly and completely weather-protected area. it is right across the street from the grand hall, a primary public entrance to the transit center where passengers will walk to the buses upstairs entrains downstairs. at the street level, there is additional circulation, as well as retail and other service functions. the mezzanine level will have more retail, office spaces, and intercity bus operations. the bus and death level provides an elevated waiting area for

transbay bus passengers with a dedicated connection to the bay bridge. it is four city blocks long, and it is a new 5.4 acre park. the park, designed by peter walker and partners, will feature a it children's playground, as well as art, culture, and education. the park will feature a water fountain designed by a ned con. the vision is to accommodate the people who live in the area, work in the area, and have it coming to san francisco as transit riders connecting to various parts of the bay area, and eventually in the state of california. today and a thomas is one of the most blighted areas of the transbay region of the area. yet in the not so decent --

distant future, it will be home to residents alike. will have wide sidewalks, retail coffee shops and other commercial activities similar to what we've seen at grand central terminal. mission plausible be shared by the transit power and the station. the current design is redwood trees, california's own st. -- owns a tree -- up to the canopy above. an exciting feature that has been proposed by the architect as a funicular for one of the ways to access the rooftop park. the mission plaza leading to the grand hall, a ground level of the new transit center. it is a very light and open space that welcomes the public to the regional and state why transit system. it features a floor designed by san francisco artist, julie chang and incorporates

california poppies. it brings light into the grand hall and serves as an aesthetic feature, as well as a view to the building structure. on the bus that level, passengers will be greeted by an alley be signed. -- by an led sign. it is a very different experience from what was available at the former transbay terminal. california high-speed rail has been an important component of the transbay project. it is designing a station in accordance with state law and local referendum that accommodates future high-speed rail operations from southern california. the high-speed trains will operate on the corridor from san jose to san francisco. the tracks will be in a deep

tunnel connecting to a new underground station at fourth and townsend and then continue for a mild the plus a long train under such as street. both caltrans and electric trains in los angeles trains will use the tunnel into the transbay transit center. underground real level. once they enter the underground level of the new station, passengers will be greeted by the transit center in the new part of downtown san francisco. from the new station, passengers will have access to quick and convenient locations that will allow them to get to all other points in the bay area. this is a safe and efficient and convertstation surrounded by the and beautiful area. this will include seven residential towers within the

transbay redevelopment area. this redevelopment not only helps fund the new transit center, but will create a new neighborhood south of market street. today folsom street has chain- link fences and narrow sidewalks. in the future, it will be a boulevard with use to the big, wide sidewalks and landscaping. neighbors will be able to see the outdoor cafe and stroll along the sidewalks. once it closes, the site will be transformed into a 1 acre park. >[inaudible] this park will be open space where people can -- [inaudible]

the community space for the new transbay neighborhood where people can -- [inaudible] >> i apologize for that. basically where people can play frisbee and walk their dogs. i seen it a few times. it shows the wonderful new neighborhood. president fong and members of the commission, we respectfully urge you adopt the plan as

presented by the planning director and staff, because without it we cannot build a new station or provide the station for their growing and current commuter work force we will see in the san francisco bay area, and we will not be able to have the environmental benefits. we will not be able to build housing, so thank you very much for your consideration and the opportunity to comment. president fong: thank you. >> i am with the planning department staff. as the planning director and an rea, you are restated, this plan is the filling of -- held vision about the downtown plan in 1985 to realize the new downtown san francisco of round the bend

transbay terminal and the new transbay transit center. this plan covers and not just the transit redevelopment area, which was detailed in the video you just saw, but the broader area from market street to folsom st.. essentially the embarcadero to the east side of the district. this plan that we feel is the pinnacle of transit-oriented growth and development in the bay area. the city has been engaged with the regional agencies and other jurisdictions for quite some time, and crafting plans to accommodate the next several decades worth of growth in a responsible, sustainable manner. this plan is at the forefront of all of that. this plan has very carefully tried to balance the considerations for growth with

insuring that we prefer -- we preserve and enhance the quality is in place that makes an francisco special place. at the skyline and at the street level with widened sidewalks and the necessary infrastructure to support transit, and vibrant street life. looking closely at urban design considerations for the sculpting in buildings and creation of in beijing street walls, the preservation of buildings and the expansion of concentration -conservation are. it also would provide funds over $12 million for investment and open space improvements around the downtown to helping accommodate the additional growth. . very importantly, this plan provides substantial new, net

new public revenues to realize all of the infrastructure, and particularly completion of the downtown rail extension transbay project. this would generate over close to $590 million of net new public revenue not available today through a new fee in community facility district mechanism, which we will talk a little bit more about in specifics. of that, 420 million would be allocated to projects that the tpja is allocated. in the balance from a close to $170 million would be available for public realm, open space, street level improvements in the district and broader downtown. this is all in addition to the existing deprograms and revenues, that would be raised, including 600 million for m

uni, $10 million from the existing downtown park see that would continue, even in addition to the new fees proposed, as well as several million dollars for child care under the existing child care programs created for the city. it has been a number of years to get to this point. we started this plan effort in 2007. after the interagency effort identified this as the major next up and realizing the vision for downtown. we published a draft plan in november 2009 and has been available for public review. we just certify the drafified he draft eir this morning. we have been here for recent months.

today we are here to consider various adoption actions, of which there are seven before you. before i get to the individual adoption actions, i would like to cover a few substantive issues and questions that were raised at the previous hearings that commissioners had questions about. we will take a couple of minutes to discuss those. first, it is related to affordable housing and below market reunion. there were a number of questions about the controls that apply and why they are in place. as was already described, state law requires in informing the redevelopment plan and transferring the lands from the state to the city, that 35% of all units built in the redevelopment area, which is a subset of the planned area, be affordable.

that is not just units on public properties, but all units that are created. to achieve this, the city and redevelopment agency is building as much affordable housing as possible on land. manprojects will be 100% affordable. to meet the obligation, we have to do more than that on the public land. that means on private parcels were there is new housing developed, we have to require that the units be built on site. theoretically, they can be built of sight, but the reality is there are no feasible parcels him the redevelopment area to build offsites affordable housing, hence the requirement that was adopted a number of years ago into the planning code to require the buildings in the redevelopment area have to build affordable units on site. however, there will be a number of buildings outside the

redevelopment area that will have the same options available today. there are issues that come up with building a new market rate buildings, particularly towers with issues regarding whether the inclusion very rules allow increases to homeowner association fees to be included with the calculations for what is considered affordable. those are issues that are serious and will continue to be looked at. the successor to the redevelopment agency has assured us that the new units on publicly-owned properties, of which there will be many, that increases will be included as the requirements of the disposition and development agreements will be included in the definition of affordability for those projects. that will represent the majority of the units in the district. lastly, there will be over $100

million generated from development, commercial development and the planned area that will go into the city-wide affordable housing fund to build affordable housing all over the city where they feel it is most affected. the next question. there was question about parking last time in terms of what ratios are proposed and other aspects. just to provide a little background, this district is in the downtown district, and it will continue to be. the existing controls that apply for non -- for non- residential uses allow a maximum of 7% to be dedicated towards parking. we do not control the number of spaces that people build, but we strictly limit the amount of space that can be devoted to it. however, the ratios deals infinitely. clearly that could pose a

problem with building of this bill we're talking about. it we do not change the rules, there could be over 2000 new parking spaces built and is transit court, in which would present a problem. what the plan proposes is to reduce the maximum allowable non-residential parking. this bill would allow major buildings do have a modest two sizable garages for the largest product -- projects. we feel that this is the appropriate balance point to move forward. nonetheless, the plan proposes to set aside some funds from the impact fee, the transportation impacts feet that were paid to do a downtown parking study, the intent of which would be to analyze what, if any, absolute park and cap should be established for downtown to achieve various transportation

and congestion objectives. lastly, on the subject of parking supply, it has been demonstrated, and we've been told time and time again from transportation planners that work for the city, that limiting the supply of parking will be most affected towards a limiting congestion as downtown has front of the past several decades. we can provide the public transportation options we can afford. there were some questions about the funding program, specifically if we reached the right balance and are these the right numbers? again, the plan proposes two new revenue mechanisms you need to the plan. one is a new set of impact use. this plan will as well. there will be an open space fee on top of the existing downtown space beat and transportation

fee. -- there will be an open space be on top of the existing downtown space fee and transportation fee. project south exceeding certain densities, would opt into in order to take advantage of the densities. the plan proposes a rate of 0.55% of annual assessed value, which we anticipate would raise upwards of $420 million over several decades. all told, looking at $590 million of net new at public revenues for public infrastructure over the resources we have today. questions about the rate and the potential impact on the feasibility and on building. there -- all of the research

shows and anecdotal evidence shows we should strive to keep property tax rates under 2%. that is the magic number of what can be tolerated. the current general tax rate that applies is 1.15% give or take every year. including the 0.55% raise that would bring the tax burden in the plant area to 1.7%. still substantially under the theoretical 2% cap. melarose is a common use in redevelopment areas. the proposed rate at the new treasure island development project would bring the total package to 1.8 percent signed. that would be a 10th of a percent what we're proposing here. we're working with economic consultants and have led us to strongly believe this is a

supportable rate, that it can be well accommodated by the increases in land value that is expected in the plan area. it is important to know that just looking at office space, an increase insupportable office rent is only three or $4 and would more than outweigh the annual cost to projects. we're talking about office rents that will already be in the $70 range. it is a relatively small increments. there were questions about what projects that it would apply to. the trigger for the new mechanisms is the construction of new development. we do not have a mechanism to share the burden with the existing buildings. we cannot rope them into the mechanisms. we will apply them to the redevelopment. as i mentioned,