>> i think that it is approximately $175 million loan and there is also a project in

the pipeline for the project and that project will continue under the old project, the old tifia program guidelines. and just quickly, the tifia loans are government's eligible for the loans during the private contractors that are working with the government. both. >> i think that you are going to see... this is a setting of what is to come, judging by the amount of the increase to the tifia program, i think that we are going to see a substantial growth in the innovative program in the future, transportation bills. >> project delivery stream lining a few key things that i would like to point out. this was one of the key goals of the house republicans. map-21 expands the category

exclusions so that the pedestrian projects in an existing right-of-way or less than $75 million in federal funds will recognize an expedited time line, so this will bode well for some of the smaller projects in san francisco that had serious challenged because of a prolonged review face in order to get the clearance to utilize the transportation funds. establishing the criteria to complete the major projects in four years and also authorizing program solutions for projects without changing neba. they now have delegation to administer the project. for all projects this is fta and fra, they have already been administering the environmental review. they said that in order to do the fta and fra they will need

additional resources. so we are staying to as far as if they will accept the transit and rail projects and also on a related note, it will likely see the increased efforts to seek reform at the state level over the upcoming year. the state senate president stien berg has announced that one of the key priorities will be to overhaul the process, so stay tuned on that front. >> a few additional highlights there are numerous directives under map 21 for the usdot for everything from taking shape of the regional transportation plans to highway pavement quality, the books are still getting through and we will find additional directive and how they will be implemented on the streets. there is also no tiger grant program under map-21.

but there is 500 million for projects of national and regional significance. the tiger program was significant funding partner, you know, a program that funded the mission bay infrastructure projects and also the parkway. so we will have to stay tuned as far as how the $500 million will be distributed nationwide over the next two years. general effects on san francisco it could have been much worse. some of the elements of well help us advance our priorities especially tifia and project delivery stream lining that we will see expedited nepa review and also the working to shape the next transportation bill now protecting against cuts to transit and to preserve the programs as stand alone programs and not just programs that are part of larger highway

programs. making sure that ridership is a strong consideration and the formula distribution and state of good repair needs for older transit systems. and also working to institutionalize a multimodule approach to funding. >> that is the end my presentation. i think that (inaudible) would like to make a couple of comments. >> yes. we do have plans and programs starting at 10:30, but go ahead. >> what actually deferred to you mr. gentleman, if you want to open the discussion with the committee first, i have a couple of comments that i want to make about this over all shape of the map-21 and where it leaves us. i think that it is interesting to do a very high-level birds

eye view summary. we have no ear marks, no competitive awards for projects. it is all formulas back to the state. and no tiger grant program. but, the tifia program grows 700 percent and the rules are relaxed and administrators of the program at the federal level are told that you are going to have a number of weeks to make a decision on the project. and the main criteria will be the credit worthiness of the project. with your permission, whether who is eligible for this tifia stuff, if the credit worthiness is the criteria then this is geared to interpreting the help of the private sector into infrastructure development. here is the direction that the country is taking, we are borrowing money from the future at let me see low interest rates, but your question is good too. all interest rates are low now. but we are borrowing that from

the federal government but we have to repay it later. and that is our policy for investigating infrastructure in the future. so not a great picture, not a picture that really commits the country to a solid future as far as creating the new infrastructure and rehab taiting the one that we have for to facilitate the current development of the nation. that will have to change. i think, when we start discussing the success to map-21 which will come next year. we have to start the discussion it is only a 2-year bill. the one thing that i think is hidden in all of this terminology is the fact that one of the main ways to make advantage of these tifia loans is through public, private partnerships and that those are the key or one important tool that we have at least to improving the delivery of projects. the time line for the delivery

and the certainty for the delivery, it is not just borrowing the money with the federal government, it is matching that with the private investment and bringing the private sector in to help us make those projects happen on time and on a budget. and that is essentially what we pioneered with the parkway project. and i think that even though it may not be fashionable to talk about public, private partnerships in congress, that is what won agrees actually did. it begun to rely on that idea. i think that we need to have a more open information about doing some of that delivery of large projects and see that discussion i think at the state level as well. because we are dealing with an 18 cent gas tax and i think that that is at the core of not being able to invest an infrastructure and not even to maintain what we have. you know, five cents more on the federal gas station could double the investment in

transit. but there is no possibility now in congress. so any way, this i think, this bill and the shape of it is a (inaudible) of what is going to happen in the (inaudible) where we will have to talk about the delivery mechanisms absent the will to increase the revenue. that is my two cents on th. thank you. colleagues any comments or questions. we will open it up for public comment? >> seeing none, public comment is closed. >> this was an information item. so,... >> an action item. >> you are right. >> then colleagues is there a motion to move forward with the recommendations in terms of... >> the position on legislation. >> there is only one recommended watch position on the matrix. so there are no support or opposed positions recommended.

>> okay, thank you. >> any... can we do that without objection? >> that will be the order. >> item number four? >> four. recommend aprolal of the revised administrative code and revised debt. >> this is the annual update and revisions of the administration code to the debt, fiscal and invest and procurement policies. only the debt and investment policies are required for annual review. but we feel that it is good practice to bring all before this body and review any recommendations brought in by our advisors our general counsel and also by our bond council. >> basically, the revisions this year can be boiled down to five items. it is either clarification to the government code and the public utilities code, and formatting changes, punctuation, or any clarification in language that

may be confusing to the reader. on page 24, we have a matrix listing out each of the different revisions and the reason behind each of the changes. on page 35, we have each of the codes and the policies and a red lined version to show you that changes are being made. i am understanding that we have a too many constraint. and instead of going through each of the revisions i would be happy to take questions that you may have. this item was presented to the cac on september 12th and was adopted for motion. with that, i am looking for a recommendation for the approvele of the revisions to the administration code, the fiscal investment debt and procurement policies. >> thank you. colleagues any questions or comments? >> okay. is there any member of the public who would like to make public comment? seeing none. public comment is closed.

>> colleagues do we have a motion to move this forward? >> can we do that without objection? >> that will be the order. >> number five. >> recommend exercising of the one year option of the professional services contract with sptj consulting with the withñí?ps7yh4iâlting with the

>> can we take that without objection? >> it them six. >> investment report for the quarter ended june 30, 2012, information. >> i'm director of finance administration, this is your fourth quarter update of the financial statements for the authorities june through 20, 12 year. we currently normally provide an internal report with the investment update. right now we are

seeing none, public is closed. >> item nine, adjournment. >> we are adjourned, thank you.

finally -- i will go over this in a few slides, but this is the first time a lot of flexibility was

given to the congestion management agencies. previously we had gotten fundss in silos for different programs . this round where we have a lot of flexibility as to what type of projects we can program. this is the map of san francisco's priority development areas, also on page 59. i won't go into it in too much detail unless you have questions. the framework in 38 million, 3.5 million is planning activities of funds every cycle, congestion management. generally over sight of fubd funded projects, county transportation and regional transportation and lots of thesering activities. next portion we see here, 24.6 million, that minimum we have to spend in the priority development areas.

we created the next line down. this school is an eligible project. eligible projects within this program. and we created this target to really identify the school infrastructure projects in the city. there will be another round of funding and another call in winter, january of 2013 where we will be focused on the education outreach portion of this school program. the final piece is remaining balance, funds we can spend outside the area. >> the funds you are articulating in buckets, are those written in stone or asked to approve? >> that is that we are asked to approve. the piece in stone from mtc is 70% in priority areas. that flows down to us. >> what types of projects can be available? previous cycles of funding,

all these funding programs more or less were separate discreet programs that would come to us separately or regionly competitive. now we can fund all -- we can, for example, fund all the projects that qualify for transportation for livable communities project, so this is a valencia and streetscape, local streets and roads, a pavable rehabilitation project. new features, the bicycle and pedestrian improvements pot have previously projects could only be funded through larger streetescape projects or a bicycle project could be funded if it was on the bicycle network. those restrictions have been lifted. we can fund virtually any pedestrian project including education and outreach, a flexible category. and the school portion. we decided to call that out and focus in on a small amount of funds to look