that disclosure. the other concern, besides the things you have been briefed about, is our concern, as members of the financing team, the city's attorney's concern, are there any meetings you have of which you have knowledge that you like to bring to our attention? we can do the best with what we have to put together a comprehensive documents, but are there things that you know that we may not know? if you have any doubts whatsoever, bring them to our attention and if you can rely upon that judgment, you are then protected. what i want to establish, as far as your comfort in relying upon the staff, this is slide 34.

we focus on the strong statement in the new jersey order that was the lack of written policies and training that led to the problems. having read that, and based on the experience that the deputy attorney has, they have hired us to come in and helped draft written disclosure controls, policies, and also do the training. when you are determining whether or not you are comfortable relying on a financial staff, he lined up on the city attorney's office, recognize that we do have detailed written disclosure policies, you are conducting the training, the in the sec has asked us to do. in addition, there has been a working group established within the city's. this is comprised of all of the key city officials that had knowledge of the financial and legal matters going on in the

city. to make sure that, collectively, they review official statements and that it is accurate. have engaged outside counsel to help with these procedures and have the deputy city attorney for disclosure. once again, we established, we think, with the city attorney's office, the strongest possible defense. we have done exactly what the sec has asked us to do. we cannot guarantee that that will assure there will be no mistakes. what we can do is assure you it that we have done the best we can to defend you. were there to be some problem, you have a strong defense that you were not reckless, you were not deceitful, you did exactly what the sec asked you to do. with my 30 minutes, i have used 25. i normally take 90.

i have curtailed this significantly to. what we did was, we have -- there are hundreds of sec enforcement cases. what i would frequently do is go through a number of the key thing -- the key cases that affect issuers. for this presentation, we cut for that. you do not want to know all of those facts. what you want to know is our collective judgment as to how to proceed. we did highlight the one that speaks to you directly, the orange county report, and we took that into account. i would be happy to answer any questions about the procedures, the cases, anything else dealing with disclosure. president chiu: any questions? ok. thank you for your presentation. are there any members of the public that wish to comment on this presentation? >> i was promised someone would sing after i spoke.

president chiu: i think we would love to see how walter would make securities rhyme with something. let me see if there are any members of the public who wish to comment on this item. seeing none, public comment is closed. unless there are any further questions, again, i want to thank you for the presentation. my colleagues and i do understand the importance of due diligence when it comes to ensuring that everything that we are approving is consistent with everything that we know. thank you for that reminder. with that, why don't we go to our adoption calendar? my apologies. i neglected to call the 4:00

special item. >> public hearing of persons interested in the decision of the planning commission additional use offer -- conditional use authorization to install antennas on mission street. also, items 18, 19, 20. supervisor campos: i would make a motion to continue this matter to december 13. president chiu: there is a motion to continue these items to december 13. i understand i'll be a 3:00 p.m. special order.

>> on december 13, we currently have a free o'clock for the fillmore community benefit district. president chiu: why don't we have a second 3:00 special order for that day, given that it will be the final meeting of the year? with that, supervisor campos has made a motion to continue and there has been a secondary let me ask if there are any members of the public that was to comment on the motion to continue. seeing none, public comment is closed. on the motion to continue, if we could take that without objection. that will be continued to the 13th of december at 3:00 p.m. now to the adoption calendar. >> items 21-28 will be enacted on by a single roll call vote on last a member requires an item to be discussed separately. supervisor elsbernd: item 24.

supervisor chu: 71. president chiu: if we could take a roll-call vote on the rest of the calendar. supervisor chu: aye. supervisor cohen: aye. supervisor farrell: aye. supervisor kim: aye. supervisor mar: aye. supervisor mirkarimi: aye. supervisor wiener: aye. supervisor avalos: aye. supervisor campos: aye. president chiu: aye. collapse there are 11 aye's. president chiu: these resolutions are adopted. >> to support a full legislative process for the 2012 farm bill. supervisor elsbernd: i moved to

continue this for one week. president chiu: there is a motion and a second. if we could do that without objection, this item will be continued to the 22nd of november. madam color, can you read the in memoriams? >> this will be adjourned on behalf of supervisor kim and president chiu for the late ho. on behalf of supervisor avalos for the late jesse morris. president chiu: is there a more business in front of this body? >> that concludes our business for today. president chiu: ladies and gentlemen, we are adjourned.

supervisor mirkarimi: good morning. welcome to the san francisco county transportation authority. ross mirkarimi, chair. i apologize for the slight delay. >> >> supervisor avalos -- >> present. >> supervisor campos -- >> present. >> supervisor chiu -- absent. >> supervisor chu -- >> present. >> supervisor cohen -- >> present. >> supervisor elsbernd -- >> present. >> supervisor farrell -- >> present. >> supervisor kim -- >> present. >> supervisor mar -- >> present. >> supervisor mirkarimi -- >> present -- present. >> item number two, approval of

minutes of the october 25, 2011 meeting. this is an action item. supervisor mirkarimi: any discussion? the seeing none. approval. second. public comments. seeing none, public comment is closed. roll call, please. >> commissioner at the lows. commissioner campos. commissioner issue. " -- commissioner carmen chu. commissioner:. commissioner elsbernd. commissioner farrell. commissioner kim. commissioner mark. commissioner mirkarimi. commissioner winner. it is passed. supervisor mirkarimi: please read item number three and four. >> item number 3, chairs report. item number four, executive director's report. these are information items. supervisor mirkarimi: we have had interesting is in the transportation field this month. on november 1, the california high speed rail authority

released its business plan. the main piece of news is that there's more than a doubling of the total price tag of the system, which is averaging $100 billion. i think everyone expected that the price tag would be revised. but the magnitude of the increase has been at definitely noticed. the schedule was also significantly revised videos and disappointed to see that we're now looking at a much longer time line in implementation of the downtown extension, which would not get to happen until after 2030. i do not think san francisco can stand for that kind of strategy when we're the only city in california that is actually building a high-speed rail terminal. i am referring to the transbay terminal. i know that the legislature now has 60 days to deliberate on the business plan prevent -- presented by the high-speed rail authority to decide either to support a return several billion dollars of federal funds given to california for this purpose last year.

the believed it is crucial for san francisco to advocate for changes in the plan that make the implementation of high-speed rail into the transbay terminal a priority much sooner than 2030, obviously, especially when so much local funding has been going into this project. i understand that commissioners wiener and candidates are working on this with the mayor's office -- and campos are working on this with the mayor's office. this should be a major priority for the next four weeks and then new year. the other big piece of the news with the action last wednesday by the environment and public works committee the u.s. senate, chaired by senator barbara boxer, approving a two-year reauthorization of the surface transportation act, which is now going to be named map, map 21, which i think stands for moving ahead for progress in the 21st century. this is a bill that would continue the current level funding for two years understand that not all the funding has

been identified for it yet. it is also not clear the level of support. in the senate the senate bill was approved in a bipartisan vote. i expect the executive director has more details on that. this bodes well for the start of the conversation. that might give us a multi-year bill. it is clear that it may not go beyond two years. this concludes my report. mr. executive director, please -- >> good morning, commissioners. my report is on your desks. i want to highlight just a few things. i do not really have more details on the issue of the two- year reauthorization bill, other than to say this is yeoman's work on the part of senator boxer to try to get a bill and create some stability for funding for the transportation sector in the next couple of years. it is clear that we have gone from a six-rebel 20-year bill,

because the resource issue, the revenue issue is still unresolved. in fact, even the senate bill has a $12 billion hole, and that is more than 10% of the total funding for those two years. i think you can count on a fight of some sort in the house to try to get to a similar level of commitment for a two-year bill, even for a two-year bill. and the local level, when we commit to voters the sales tax, a 30-year plan, we expect that the federal level, there will be a little -- a level of commitment that would allow us to leverage the funds that the locals are willing to commit to. so the two-year effort is better than nothing, certainly, especially at this time of economic hardship. but we need multi-year commitments to be able to engage in multi-your initiatives, like the high-speed rail initiative and other things we're doing.

even some of the programs that require multi-year funding. we will hope for the best in that area and continue to encourage congress to do the right thing. i wanted to point out a few things that are going on, that went on this month related to funding for projects. we had a series of meetings with mcc to try to sort of strategy for the big projects under construction. the presidio parkway, central subway, and the transbay project it all of them are experiencing some level of impacts from the slowdown in the economy and the pace of the liver of state and federal funds. we're doing the due diligence necessary, especially sorting out the weekend provided bridge financing for these projects that the commitments that the state and federal governments have made in years past do not

materialize in the timeline that was originally promised, which is a distinct possibility, especially with the issue of delays with the state bonds and so on. we have had productive meetings. i will keep you posted. we have not really changed anything as far as our commitment to those priorities. but we're simply trying to get some clarity about how the ntc will bill to help us with those issues. the authority is committed in helping to commit as much as possible. there has been considerable work in progress on the regional transportation plan. several of the have been involved in the directly, especially the ntc commissioners. i would point out that the earlier this month, a draft result was released on the performance assessment. we found several san francisco priorities that did very well. of course, this is sweepstakes

for future funding. one of them, of course, is the effect of this project. we also saw the bart metro project that will increase frequency of services to downtown san francisco scored very well. and the initial pricing initiatives in san francisco also did very well, of course. i would note that both commissioner campos and commissioner reno made comments about the need to further take into account, in the evaluation of both the end of the door projects and the program might alternatives, this is the commitment to housing supply, a way to reward what local jurisdictions are doing. and the quality of targets need to be more closely included in

the evaluation that is done. and results released for the rtp next month. i think that will give us an opportunity for an interesting discussion about that before the planned moves to next year's steps toward adoption. some wanted to also point out that the san francisco transportation plannin is making progress, and we have had more briefings of our advisory committee and other groups. we're looking now at some things that will probably not get as much attention in the plan. these are subjects that we intend to govern in a more comprehensive way this time. there's more information on our web site on the transportation plan. there is the lifeline transportation program change, which is highlighted here

because of its significance. the lifeline transportation program funds have flowed from mtc to the condition management agencies and the different counties. the mtc is now proposing a change which would actually increase the amount of funding that goes to the counties, but it would direct a large amount to the transit operators, sfmta, and also increase the amount coming to the authority. we're talking about revenues of $11.7 million going to mta and up to $5.4 million coming to the authority. this is funding intended to deal with increasing taxes and mobility for low-income communities, and we have already had quite a bit of involvement with the program in the past.

you can expect the requisite projects and the actions of the plans and programs committee in december, prior to the issuance considering some of the funding going to the program that commissioner campos has been spearheading. van ness brt released its eir/eis draft on november 4. the comment period closes on december 19. prior to that, there'll be a public hearing on november 30 at the holiday inn, golden gateway, 1500 men ness avenue. this is all included on our website, but of course the public is encouraged to attend the public hearing and to provide comments. several channels are available for that.

geary brt is also making progress. i wanted to point out, as a segue from the chair's remarks about high-speed rail, there was a session on high-speed rail at the focus on the future conference happening right now in san francisco, and i was intending that this morning. a member of the high speed rail authority board clarified the schedule for comment on the business plan that is out there now, that was released on november 1. the idea is that the authority, the high-speed rail authority, will take comments at a hearing today in palo alto and then on december 6 in san francisco. then they will consider incorporating all of those comments and directing the mine some fashion. then at that yuri one, are the first week of february, the intention of the meeting to approve the revised plan that

might incorporate those comments. only after that, the 60-day timespan, will the legislature kick in. so there's time to organize commons, even beyond the two hearings that are already scheduled. i think that is time that is welcome to, because we probably need to make some additional comments on that. finally, i wanted to announce that i am pleased to report that we have received two grants in san francisco from the value pricing program at the federal level. one grant for $1.5 million is going to a joint venture of the sfmta and the city car share for electric bike sharing and car sharing demonstration. $480,000 them into the of 34

parking pricing in regulation study, which is going to be helpful for parking-based pricing options to fall on the environmental studies in the city. the last thing is that caltrans has done a pre-award audit of the authority, and we have a clean audit report. there are several items on the report, and i would be happy to answer questions about them. supervisor mirkarimi: thank you. supervisor campos: thank you very much. i wanted to make one general comment. one of the things that supervisor wiener and i have been working very diligently since we were appointed to the ntc was making sure that the funding issuance and other decisions are being made at the mtc and that we continue to speak with one voice. i think that we have managed to do that. i think it is especially

important with some of the projects, especially those that perhaps did not receive the kind of rating that they should have, that we continue to speak with one voice. at this point, i want to thank all of the different agencies. the transportation authority, certainly, but also the mta, the mayor's office, who has worked very hard to make sure that that happens, and i think it is important, especially as funding becomes more limited, that we are strategic and how we approach these projects. so thank you. supervisor mirkarimi: very good. any other comments? seeing none, public comment, please, on either one of the reports. seeing none, public comment is closed to this is an action item. madam clerk, please read the next item. >> item 5, increase the authorized amount for the non- federal portion of the memorandum of agreement with the treasure island developer about 30 by $1 million, to a loan obligation amount not to exceed $10,287,000 to complete

preliminary engineering and design for the i-80/yerba buena hylan interchange improvement project. deferred to retain a date by two years. supervisor mirkarimi: discussion? the seeing none. public comment? seeing none. i think the house is changed. it has not. may we take the same house, san call? very good. next item. >> award a consultant contract to kimley-horn and associates in an amount not to exceed $250,000 before program management and technical support of the van ness and brt program with an option to extend for two additional years. supervisor mirkarimi: discussion? public comment? seeing none, public, disclosed it is in house, col. next item. >> three. robbers would surge of the citizens advisory committee for a two-year term. this is an action item. -- reappoint robert salatin. discussion? >> public comment?

take this without objection. some lived. next item. >> item a, appropriate up to $126,827 for the 19th avenue transit corridor investment study, subject to the attached fiscal year cash flow distribution schedule, and in the transportation/land use coronation five-year prioritization program. action item. supervisor mirkarimi: discussion? public comment? and seeing none. take this without objection but also moved. clark, please read item number nine. we will skip this. then we will turn back. >> i will remind the last item 9 to report on the limited scope performance audit of the sentences the municipal transportation agency. phase ii. action item. supervisor mirkarimi: we will return back to this. please read item number 10. >> introduction to new items. information item. supervisor mirkarimi: is there any introduction to new items? supervisor wiener: thank you.

i am calling the hearing today relating to high-speed rail been also requesting that it occurred with the plans and programs committee in december. as the director and commissioner campos have noted, we have had very significant opportunity and challenge on our hands to make sure that we have effective high-speed rail to transbay terminal and to make sure that that entire route is completed and that we have an effect of high-speed rail system. of course, this era of limited transportation funds, we need to make sure that we are completely coordinated and on top of it, making sure that, as commissioner campos noted, that we are speaking with one voice in terms of the absolute critical nature of completing

the entire high-speed rail route and not leaving any portion of bit behind. and making sure that the transbay terminal is able to be what we all know it can be and want it to be. to do that, we need to make sure that all of the agency's within san francisco that are involved, that we're working together, that we are well-coordinated. so that is the focus of the hearing request, and it is to ask the staff, the mayor's office, the transbay joint powers authority, planning department, the sfmta, department of public works, the redevelopment agency, and other impacted agencies, the port as well, to talk about how we're going to