bill -- the latest amendments change the bill, for the caltrans project. it will delete the initial prior version of the bill, and have this sent to the assembly. and we will bring this back to you. the next bill that we have is a bill that provides the local red light cameras, with the automated traffic enforcement system to make certain that the red light programs are efficient. and we have this in senate appropriations. the next bill -- this is similar to a be 41, to extend

the conflict of interest requirements for high-speed rail. this would require the high- speed rail official to identify any conflicts or potential conflicts that they may have. and this is on the consent calendar, and it will be taken up on the assembly to the next week or so. this would update the 1990 law with using private financing and infrastructure, and they currently remain exclusive. the private financing -- that is the idea behind this. this is on the senate floor and available for them to take up. >> thank you for the great presentation?

are there any questions? >> you told me to put you on the spot, what is generally going on with the senator and high speed rail. the various hearings -- not just him, but gordon and all that has been going on. i am just curious from your perspective. >> i am not certain what is going on but this has to do with the available money that is out there. this may have been today or yesterday. another state declined money for the high-speed rail. in california has taken a percentage of that, that has been targeted for the valley. these are the dynamics occurring, with respect to who is getting the money. >> thank you. >> and there are no other questions?

>> i just want to talk about the bills that we have the position on today. this should be on page 29 of the package. this would free up the funds for the tax account, for the annual restriction. this goes to the state and local governments, to fund the state highway account. and this allows for the gas tax -- gas tax revenues for the budget and the local railway projects, and also their ability to manage state contracts. >> and this is the highway users' tax account. >> this references the fair amount. the other thing we recommend taking a position on -- this is 517.

this would move the high speed rail authority under the business transportation and housing agency, the state of california has a very complex transportation system and it seems like they would have a more integrated approach to bring this funding under the current transportation. this is a very large department and it is important to integrate a high-speed rail under this. >> the action items are to support this? if there are no questions, we open this up for public comment. >> the high-speed rail authority -- we have a condition of support on this. i have only followed the politics of this on the periphery of, but i know that they have not been the biggest fan of high-speed rail.

this may be a question for the lobbyists. but are we thinking of taking this to the high-speed rail and supporting this? and supporting the terminal and all of these issues in and around san francisco? is it worth send the city and county of san francisco support this bill? >> we are just thinking about going forward with high-speed rail, and how they will function as part of the transportation. the intent is not to be picking any kind of fight, as far as streamlining the process and making certain that this function is the most efficiently. >> and the right policy, when i may be looking for is the right politics? what is the cost benefit analysis for the city and county of san francisco to say that we support this?

inari alienating the chairman? does he like this? is this worth it? >> currently, as you may know, there is a law that goes back and forth that was authorized, and this would be one way of streamlining everything around that. not having a completely independent high-speed program. making certain that we get this under a single entity, to handle the magnitude of the program. with respect to the politics, i do not think of supporting this bill would put us into any compromise with any of the other parties. they are governed by a larger agency.

we will make a few phone calls -- between now and the authority. >> this is for sb-517. >> we will soon decide on floor without recommendation. >> thank you. we will open this up for public comments. is there anyone who would wish to speak? we will close public comment. can we move this forward without recommendation? without objection, thank you. the next item? >> this is for the nine months ending march 1, this is information item. -- is an information item. >> this is the quarterly update of the financial position as of

march 31, 2011. the authority had $193 million worth of assets, with $214 million of liability. this includes $150 million of outstanding commercial paper, and in terms of the revenue, the authority has selected $50.1 million of revenue and we are on target with what we expected to collect for the fiscal year. the expenditures of $54.8 million, as of march 31. they have already had cash deposits and investments. this amount is 93% of the funding and this is the city and county treasury report. we are in compliance with the

california government code, with the liquidity in the funding for the next six months. with that, this is an inflammation in and there is no action for this. i would be happy to answer any questions. >> seeing no questions, we will openness for public comment. is there anyone who would like to speak? public comment is closed. the next item? >> this is the information item. >> we will openness for public comment? public, disclosed. and other any other items before us? >> item #7 is public comment. >> and other any comments from the public? are there any other items? >> item #8 is adjournment. >> the meeting is adjourned.

>> welcome to culture wire. the city rolls of the red carpet to host the international film festival.

the actors, directors, and others in among luminaries around the globe. we will get a sneak peek of this year's exciting program. >> welcome to "culture wire." in april, the 50 forces and francisco international film festival will be taking place. joining me to talk about the programming is the director of programming for the san francisco film festival. rachel, welcome to "culture wire." i look forward to this every year. my first question is, what will be the opening night film?

>> we have a terrific film for opening night. it is called a beginners and as an american independent film that stars ewan mcgregor and christopher plumber. >> what kind of music is that? >> house music. >> it is a hard to describe story with a lot of humor and heart. >> what are the other highlights? >> there are so many great films. it is hard to pick out the favorites. we have over 200 films and the festival. we have some other wonderful american independent films like the centerpiece premier that stars john c. reilly.

including the closing nine film that really shows the crossroads of internationalism that the festival. >> it is not just about the two weeks of the festival. you guys also run really fascinating programs for the bay area. >> really don't stopped screening films. we have a series of festivals in the fall for the fall season. and we often do week-long runs at theaters around the bay area so that people who want to see the kind of films that we show at the festival can see them all year long. and we have a wonderful filmmaker services department. we can provide fiscal sponsorship and a lot of great advice. finally, we have a really

robust education department. people that want to learn about filmmaking can take some of our fantastic glasses. >> one of the things that impresses me about the film festival is sort of the impact that it has. i know you guys are the longest running film festival in the americas. >> it was always a great festival for the city of san francisco, so our constituents are the people of san francisco. we want to do what we can to reach out to as many kinds of populations as we can. one way we do that is by bringing in guests. that is one of the things that makes a festival exciting. not only do get to see films that you might not otherwise see, but you can meet a director or an actor and hear about their prospective making the film. the one thing that i always like

to tell people who have never been to a film festival before is that it can sometimes seem daunting from the outside because he will pick up the program guide and it has 100 name movies and seems a bit hard to navigate in the beginning. but it is really worth it as you know from coming. the atmosphere in december, the interaction with other guests, the films themselves make it a great couple of weeks. >> it is important to participate and take advantage of this treasure trove of films from how many countries? >> is usually between 40 and 50 countries. >> it is an impressive range of filmmakers and the national perspectives that gets

represented in the film festival. thank you for bringing this festival to san francisco every year.

>> good morning, and thank you for joining us. i am the director of the mayor's office -- and i am here to mark a milestone in this neighborhood, one that is about revenue. this will support and enliven the neighborhood, and allow me to stop driving to shop at target. the speakers are mayor ed lee, donna eagen of target, and the director of the sentences to redevelopment agency. we will have a ceremonial groundbreaking in this room. i would like to talk about the following individuals. the city college board of trustees, natalie burke. since assuming office in

january, growing the economy has been a priority. and as we saw, he delivered. without further ado of like to mention -- i would like to introduce the mayor. >> if you notice i am smiling, there is such a combination of good will here, and good direction. i get the opportunity to be productive and destructive at the same time. i am here to bolster and brag about what we are doing in san francisco. we are still doing the right things. i have been here so many times and we're talking about how to sustain the economy and grow this. i have repeated, we are doing redevelopment's so well and i want to thank everyone, -- i

want to thank the redevelopment commission, i have spoken out in the very beginning in january, when people suggested that redevelopment was a don entity and maybe this should not be done. we are continuing to do the right things in this city. and with this fantastic view that we have here, with this wonderful site, as it has been labeled or called for some years, this land is actually owned by the redevelopment agency. they have done the right thing again. by enticing a major investor to come over, from the extremely successful screen, to offer their vision to have $30 million

worth of investment. and to invite another fantastic tenant, the target or what people are trying to make me pronounced this, the weather pronounced this year, to have a special store. in addition, this is part of the $30 million investment. the restaurants and dining facilities that will be facing this wonderful, beautiful garden that we have invested so many years of the effort on in this great city. that is why i am happy and smiling. this is the use of redevelopment in a positive way. they are such a cornerstone for jobs. we are talking 600 construction jobs as this program begins. 700 permanent jobs are reflected with the restaurant

and eating facilities that we have here, the kind of facilities that this floor will have in terms of how it will be used with public space. and the jobs that target will bring in. and there is the urban design target store, these are the attributes that we will have a mayor who is enthusiastic about this. this fills a constant theme that i have with job creation, green hope to the city, that we use the agency, the best way possible. and this is really another highlight for redevelopment. and i will say to the governor, and to the others that are suggesting that we do this the route the city, we continue to do this right here. we have many examples of how we do this right. this is job creation and job sustaining, and that is the

growth. i was here in the original opening. we welcome the in sony at the time. things change, and new things occur, and then we is the success to that they have had in the shopping center a block away. and we adopted a beautiful addition to the city, because every time that we have done shopping, we just look up constantly, and all the people have the same vision that they have here. you could be looking up to many floors of wonderful attractions, restaurants, eating, and all kinds of entertainment. and my wife and i have been here many times. this theater is going to continue to be a vibrant theater here. this is one of the region this is part of the city, where the office is working with redevelopment, and we will continue along the market to

bring forward the new technology companies, the companies in the room right now talking about how we can make them excited, with perhaps a relaxation of the stock options and the taxing that we have done, so that we do not hurt them as they grow into the city, so that the employees that they will hire, we have 50% local hiring here on this project. this is thanks to the redevelopment objective. those employes will find everything that they need, along the mid markets and the streets, and then, as they want to entertain themselves in the

evening, they can spend all evening here. it is so excited to put the sledge hammer to the wall. to actually be productive and to welcome in the jobs that this will represent, the finest example of how we do these partnerships, with the redevelopment agency. we will invite the investors and suggest that the investors have the confidence in the redevelopment agency and what we are doing to move forward. investors at westfield and target would not do this if they did not think the city was a good partner. i also want to thank anthony rich, because he just told me this personal story about himself and his wife, moving into russian hill. they love this as much as i love this city. investing their personal lives and all of their investors

future vision in this city. this is a wonderful story. i hope that you sustain this and whenever you have to do to get the story out. we are moving forward as a city. the future of the city is the young people who will get these jobs. we're making certain that we reach out all the neighborhoods to make certain that the shops are open to all of them. they will not do this without a solid education system. i want for the youth to have good lives in the city. thank you very much. >> westfield has been a strong contributor to the economy of the city, and their presence in the city generates thousands of jobs for residents of san francisco and millions to the tax base. the $30 million that is being invested in this facility speaks

volumes about their ongoing commitment to the city. this is the president of westfield. >> thank you. i would like to thank ed lee, the commissioners, jennifer, the staff of the redevelopment agency, and the office of economic and work-force development for being here today on a spectacular san francisco de, to support the efforts of revitalization. i also like to thank amy and the staff of the redevelopment agency, for sharing in their expertise as we work. imagine this great location. and working with the city to make this a reality. the office of economic and work force development, is also instrumental in advancing these clans.

thank you all for working with the team, led by scott valley and the vice president of development on this project, to reach this important milestone. to be here with museums and performing arts venues, streams of world-class conventions. you have to bring a strong imagination. we understood this from the first day. we have always believed that this property could be real imagined and better integrated into the neighborhood. i would like to touch on the plants. each floor has a signature focus. the first crucial step was to literally turn the street level of this facility into this facility. we will throw open the doors to the gardens by integrating the new dining terrace, with over 470 seats inside and out.

we will also -- importantly turn to face fourth and mission street. but must 7 cisco buildings, we will create a lively, nod, and we truly believe that this will be a great complement to the area. on the second floor, we are thrilled to welcome the first city target, and donna will tell you about these plans. on the third floor, we" brands to amc theaters. we will renovate this with a dynamic new box office. the fourth floor, where we're standing today, is called a city view. this will also be renovated to make a more unique and successful premier location with a special events.