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>> this has been interesting and exciting week in san francisco, the last week of september. this was a company that is well known to many people, but boat -- that will be well known to many more people. >> we are home to twitter, wikimedia, foursquare, and we are home to a 270,000 square foot headquarters at 8th and brannan, zenga. it was leaked they are announcing their new headquarters. >> this is an online gaming company in san francisco. this employs roughly 1200 people they had 398 employees,5

, and competing against president berlusconi in italy, and we are down here with all the attributes of this natural amphitheater which is the san francisco bay, and the opportunity to be the only american city to defend the america's cup. those of you not familiar, you should just care on this basis, besides the love of the sport and showcasing the natural beauty and wonderment that is sailing in the san francisco

bay, you should care because of those 9000 jobs. the economic stimulus for the region is the equivalent of three super bowls. if we succeed in getting the america's cup to defend the cup here, there is great expectation that they will win that defense and continued to make subsequent investments for many years to come, so this is an extraordinary moment and opportunity to really jump start our regional economy and our local economy, and i want to congratulate everyone that has worked their tails off to get us this far. the reason i mention this is because this week, we submitted our term sheet to the board of supervisors, laying out the scope and commitment we are making to being the host city. we have a lot of work ahead of us. we expect a decision in the next weeks, but the determination of which of those three countries will host the 34th america's cup will be determined very soon. i just cannot say enough about

all the elected family here in san francisco, and the corporate commitments we are getting from ceo close of companies large and small throughout the bay area that have really stepped up -- from ceo's of companies large and small. king juan carlos and berlusconi have been involved in the country's bids. we have a different kind of political system in terms of expectations and other folks -- other things that falls in d.c. are focused on. there is a lot going on. we hope to get rid elections and then see that same kind of enthusiasm. i expect we will, back in washington, d.c., not just the state. again, thank you to speaker progress -- speaker perez for release stepping up. third thing is we had a really exciting announcement as well --

at least i thought it was -- because we actually competed against cities large and small across the country for a $12,000,000.30-year grant that cames from the great -- from the gates foundation -- $12 million three-year grant that came from the gates foundation. there were years where they were not so sure that we had our act together as it relates to public education. in this case, we are one of four cities that received a multi- year grant, millions of dollars used to focus on college going culture and partnerships that will be developed. we call it a bridge to success. 2.9 million students in the community college system. we often forget how important the community college is for vocational training and the community track and for people regardless of their time in life to get quality education, but we needed to create a framework to

streamline our data collection, to streamline our collective efforts, and the gates grant will allow us to do that over three years. here is a good idea that his generated money and resources and support. our job is to implement it and deliver on this promise, and that will happen with your good work and your good judgment, and so in closing, let me thank you in advance for that work. let me thank you in advance for your collaborative and these partnerships that you will advance. let me thank you for your wisdom in getting us here today and remind you -- the future is not in front of us. it is inside of us. we will determine the fate and that future of this program and whether or not more money will flow because we have aligned our collective strategies in a new and profound way. again, as one of four cities that will be receiving that $12 million. i want to applaud hydro mendoze

for really leading that charge. and everyone at the community college system for release stepping up to the plate and showing what we can do. and we built public-public partnerships, not just public/private partnerships, and really worked in a collaborative. my core beliefs has always been that money should not be the limiting believe, meaning a lack of money. if you have a better idea, the money can start flowing. i have always believed that. that is why we did universal health care. it was not that we had hundreds of millions of dollars at our disposal. we had a better idea. same case here. because of the work we have done with kindergarten and college and because we are handing out college savings accounts to many kindergartners that are entering the system, because of the work we did for san francisco promise and the guarantee of a four-year education for our sixth graders, because of the work that has

been vance by the school board, all of those things contributed to us getting in the mix and getting this grant, and now, the eyes of this foundation and others are upon us to actually deliver on promised, so i cannot be more complementary and enthusiastic about what this means. i have always said that once the mine is stretched, it can never go back to its original form. once we create that kind of imagination in the mind of a young child that now has a streamlined pathway to that bridge to success, which is a college education or career track through community college, then great things happen, so that is really where we celebrated earlier this week, down at that community college campus, and out in ocean avenue. complement's and hats off to everyone who made that happen. finally, a bit of sober news, but also new is that i think should give us pause and a little bit of optimism. we are going to lose the federal

funding it looks like on this jobs now program, which is arguably a back breaker for hundreds of thousands -- and i mean that literally, hundreds of thousands of families across this country that may lose their jobs, but rather than just accept that fate, we have some ideas. we have 4127 families that have been benefited because of the jobs now program. most aggressive expansion of this program of any city or state in the nation. they should be complimented and truly elevated in people's minds in terms of the good work they have done. we recognize that this federal money may go away, and we are still fighting for it. we have not given it up completely, but we are going to take some existing job-training money and redirected and realign it so we can keep roughly 470 slots available to those families that would otherwise lose their jobs. the hope is that roughly half of

those 4000-plus families will keep their jobs because a private employer will keep them on, particularly through the holidays because so many of those jobs are in the service industry. in january, to make sure we can build that bridge, we are going to create some incentives and open up the opportunity for folks to continue to get some benefit for continuing to employ some of these individuals so they can support their families. it requires us to redirect about $9 billion that we will be asking the board of supervisors to help us redirect. the other money was going out anyway, but not totally dissimilar programs. we think the best job training is on the job training. we think the best job is not receiving $450 a week in unemployment, but $447 a week which many people do through our transitional program, but that comes with the dignity of the job itself and a paycheck and

the work ethic behind it. this is important, and i think i have brought this up in these weekly videos probably 20 times. i would say 30, but that would be exaggerating. we are fighting hard in congress. speaker pelosi has been a great. senator feinstein and boxer has been a great. the president said he would sign the extension of the bill. it is just pretty damning that we have a program that is creating private-sector jobs, creating a real opportunity, giving people a real opportunity, and a costs for many folks less than it costs the taxpayers to just hand out an unemployment check. yet, there is no debate about extending it, even though we rightly extended the unemployment insurance benefits. this is frustrating, but nonetheless, we will keep fighting, and that frustration has borne some ingenuity and entrepreneurialism on our part to think about our existing job-

training programs, again, so we can provide at least a framework of 1740 slots and the opportunity to extend this program for many families. that is the update for the week. a lot of things to talk about, but those are four important things, and we look forward to checking back in in a week or two talking about our progress on jobs now and america's cup, and those other companies i mentioned that will be making some big commitments to our city.