part dealt with and that they are earning important institutions in the city. we would like to thank you and hope that you would proceed with this item. supervisor mirkarimi: any other public comment? seeing no one, public comment is closed. taken without objection. item number 7. >> award a three-year contract to knn public finance, in an amount not to exceed $250,000, for financial advisory services, with two additional one-year extension options, and authorize for the executive director to negotiate contract terms and bid conditions. this is an action item. supervisor mirkarimi: any discussion, colleagues? any public comments? take your time.

the other microphone, please. >> good morning. i am just curious, you know, why we are hiring what appears to be an outside contractor when we have people within the department that could do this just as well. probably get a cheaper rate. i do not quite understand why we are hiring outside people. people to do things that we should be doing in house. supervisor mirkarimi: thank you. any other public comment? in order to respect those remarks, would staff like to quickly speak to why is that a contract is awarded to someone outside of city hall?

>> mr. chairman, it is normal practice at the transportation authority to have the head of financial advisers help us work through the complexities. particularly getting the agency rated. this is a significant issue that requires due diligence and this is the kind of activity for which it is advisable to have advisers that are very up-to- date on the requirements of the market and ratings agencies. we are simply following through with what has been expected in that regard so that we can move forward with the highest rating, making sure that we do everything in the most appropriate way possible.

supervisor mirkarimi: thank you for the explanation. colleagues, i believe that the house has changed. would you please take the roll call, madam clerk? >> [roll call] supervisor mirkarimi: so sorry, you are here. >> [roll call] the item passes. supervisor mirkarimi: next item, please. >> item #8. accept the audit report for the fiscal year ended june 30, 2010. this is an action item. supervisor mirkarimi: any

particular discussion? supervisor chiu: with respect to the director, there was discussion of doing a similar audit of the county transportation authority because the kind of financial audit that we were reviewing was separate from a management audit. i am wondering if we could get something out in the terms of when we get a performance audit of the transportation authority taking place. >> 24 the question. this came out of the finance committee meeting. i believe that the authority chair asked the same question. scheduled for april so that we can conclude with the other

report. that will be happening and you will of course be receiving a draft scope to initiate that process. >> i would imagine that every member of the authority would be able to make suggestions? >> absolutely. of course, the process and the contractor will come to the full board for approval. the ultimate ability to look at the scope of the audit. supervisor campos: i would like to see that we moved expeditiously to make sure that this agency is subjected to that same review. >> that has been my understanding from the start. this will be the second such audit that the agency has. the first one happened almost one decade ago. supervisor mirkarimi: to that

point in your reference, commissioner, i want to make sure that we are on the right path for the audit of the mta as the commission is subsidized. i know that within programs you have discussed this, but before the new year there was a necessity to bring the auditors and the ta together. i want to understand -- this is ongoing? ironed out to the degree that it can be expected oas an effective audit? >> correct. it is something that we continue to work on and is something that we will have a more in-depth discussion on. supervisor mirkarimi: which meeting?

>> we are not sure which state, exactly. supervisor mirkarimi: colleagues? further public comment on this item? seeing no one, public comment is closed. the item passes. >> item #9,adopt positions on state legislation. this is an action item. supervisor mirkarimi: any further discussion on this? seeing no one, further public comment? public comment is closed. taken without objection. >> #10, allocate $35,000 in prop k funds, with conditions, to the department of public works for construction of a bus bulb at balboa street and 37th avenue, subject to the attached fiscal year cash flow distribution schedule. this is an action item. supervisor mirkarimi: this was the liberated in the planning committee. any public comment? seeing no one, of public comment

is closed. so moved. >> item number 11, adopt the 2010 fiscal report. action item. >> mr. chairman, i have a quick power point presentation on this item. you have a hard copy in your packets. i will be very brief. if i could have the power point? there we go. as was said earlier, this is

fulfilled in section 131303, requirements for the public utilities code prompting an adoption by this board, going beyond what was adopted in the prop k plan. as you know, the authority has other roles. the local sales tax, under the role of complying strategic

roles, a program administered by the bay area air quality management district with two components. one of the regional, administered directly by the district. and a local component for the manager fund, one that you as the authority board administered. and the latest addition mentioned earlier is prop aa the annual vehicle registration fees of with the authority is now the administrator. $5 million per year in revenues for transportation purposes. here is an overview of the allocations and expenditures

during the period covered by this report. this report is by one of those vagaries of state legislation, covering the calendar year. of course, your budget is on a fiscal year. this is essentially january 1 through december 31. this chart looks at allocation'' and expenditures for the calendar year 2010. you can see that there was a total of $143 million in prop k allocated to various categories and products with expenditures of $52 million. you can also see that allocations today are almost $780 million with expenditures on the order of $452 million. four categories approved by voters when prop k was approved in november 2003.

transit services, streets and traffic safety, as well as transportation traffic system management. the largest of the categories is the transit category. the only one where there is a responsibility for funding and operating program to provide special services for people that cannot use things like trans. let me give you a quick overview of progress on the signature projects. i am going to respect your time and the fact that the chair has already covered several of those key areas in his own report. i do not want to repeat. let me show you a few figures and interesting data about the program. the parkway is the first one with a cost of $1 billion. construction of late 2009, this

project received $52 million in american reconstruction recovery act funds. phase two of the project, roughly $500 million, was approved by the transportation commission by the public-private partnership, to which we referred to as p3. that phase of the project will have a cost of $488 million, reflecting savings on the life cycle of the project at $145 million over procuring new the use of traditional design in the building process. just $173 million on completion of construction, the end of 2014. payments that stretch over 30 years, called disability payments. constituting a 30 year warranty on the project. the consortium that will be

doing this will have a responsibility for making this an opportunity as well. we are collating this with caltrans. this project is truly a trailblazer in the state. probably a very interesting model for how the state might be able to incorporate in a very positive and measured way the help of the private sector in terms of -- expertise in financing. taking advantage of the estate and being able to deliver on the infrastructure needs of the state in the future. there has been significant progress on the transit center as well. the funding for the project, which cost about $1.6 billion, $270 million in prop k as approved by voters. the project was received in 2010

with a $400 million allocation of funds. the component of the terminal that would be underground received rail service once the, was constructed. it was also approved in the early parts of 2010 for $174 million. a long-term, low-interest loan from the federal government. the lead agency for that is the dgta. progress has been significant, opening a temporary bus terminal for service. there was a groundbreaking ceremony that a number of you attended with speaker pelosi in august. immediately after that the old terminal began demolition, which has been completed. there has been a contract for

$180 million for the construction of the initial stages of the transit center also awarded this year. the central subway project with the authority directed funds has resolved a funding gap. as the chair mentioned earlier. largely through prop k. it is 90% designed in terms of the tunnel portion. station design is that 65% completion. the utility's completion pack has been certified, a major milestone. a project intended to open the service in 2019. the lead agency is the transportation agency. as far as bus rapid transit projects, there has been significant work on those programs as well.

small starts, federal funds, which could bring the project to as much as $75 million in federal funds. there has already been a milestone in terms of funding from the climate initiatives program, the draft being completed will be circulated in the next month, ground-breaking -- completion of projects scheduled for 2012. making progress into one -- throughout 2010.

the feasibility study demonstrated that the concept is likely to achieve a 15% reduction in congested levels. there is an authorized section of the study that should take us to a position on whether to implement the pilot in the beginning of 2015. this is of necessity, you can already see that i could spend a couple of hours here, but i will spare you that. i will check off a few of the subjects that are continuing to move forward. the county land use prioritization plan is a very significant multi-jurisdictional effort that is on the way. completed in 2010, some of the recommendations are moving

through the process for implementation. the central freeway boulevard regulations study, we have had significant advances with their own model traffic advances. allowing us to track bicycles so that they can be modeled more effectively. the first of its kind in the country. as the chair mentioned before, we have been significantly involved in the sustainable community strategy process for the region, where the authority is coordinating improper with it the other san francisco agency families. last but not least we have kicked off our 30-year look at the san francisco transportation infrastructure service program.

it promises to be an interesting process this year. also because of the implications of the sustainable community strategy that promises to be at least bringing to san francisco the debate about whether we can absorb more growth, population, and the jobs and what had been anticipated until now. in order to have a more efficient transportation infrastructure. finally, we just approved the audit report for 2010 without any findings or recommendations for improvement in this case. last but not least, we spent 66% of our direct contract dollars

for professional services and all local businesses. as i said, there is a lot more information in the report. let me just remark that several other areas that are not covered in the report are of significance. for example, there is a major volume of transit rehabilitation work that has been done, funded with state funds and prioritized by the authority. including things that i am sure will come back as special reports to this board. there is also progress being made in bicycle facilities and we should have a special topic on that. at a future meeting. given the injunction of the bicycle plan, it brought out a

lot of energy to get those projects. just in 2010 there was more than 8 miles of new bicycle lanes to drive. other bicycle lanes were put in by the project. there were over 750 by cracks installed. i think that a short, annual report does not do justice to that. i promise you a separate presentation on some of these items. but this does give you a bird's- eye view of the opportunities this year. thank you. supervisor mirkarimi: colleagues, and the question? -- any questions? seeing no one, any public comments? seeing no public comments, public comment is close. can we take this without

objection? very good. the item is moved. thank you for a strong year. i look forward to 2011 as we are already under way. madam clerk? >> introduction of new items. supervisor mirkarimi: any discussion on this item? seeing no one, any public comment? seeing no one, public comment is closed. next item, please. >> item number 13, public comment. supervisor mirkarimi: public comment. public comment is closed. next item? >> item 14, adjournment. supervisor mirkarimi: very good. thank you, colleagues. welcome to the new commissioners that are here. we look forward to working on transit projects with the mta. have a great day and a great

rest of your tuesday. meeting adjourned.

so are you going out tonight? i can't. my parents say i have to be home right after work. ugh. that's so gay. totally gay. ugh. that is so emma and julia. why are you saying, "that's so emma and julia"? well, you know, when something is dumb or stupid, you say, "that's so emma and julia."

who says that? everyone. announcer: imagine if who you are were used as an insult. director ford: good morning. i would like to call to order the jury 132010 meeting for the transbay joint powers authority. madam secretary, please call the roll. -- january 13, 2010 meeting for the transbay joint powers authority. [roll call]

mr. chairman, you have a quorum. >> item 3 is communications. director ford: ok, no communications. let's move on. >> board of directors new or old business. director ford: ok, none. >> item five. executive director's report. >> happy new year. what we are going to do, which is customary at the first meeting of every year is go through the mosque of we achieved through 2010 and give the board a look ahead of what we plan to accomplish in 2011 and beyond. what we are going to present today is our accomplishments in 2010, our cost and schedule status, planned for 2011 which includes plans for construction and design, and then an update on our sbe reports, out rich

reports, funding reports, and where we plan to be next year. in 2010, that is the year that the last bus came out of the transbay terminal center. you can see a picture of the last bus that left the terminal that day. the subsequent day on saturday morning of august 7, we opened phase one of the temporary terminal. last december we completed case to. -- phase two. we then had our ground breaking ceremony which was attended by the secretary of transportation, speaker pelosi, and other dignitaries. you can see a shot of that wonderful event.