as you all know we are climbing out of the deep financial recession. we have revenues that are eight percent higher than last year read use, -- other funds have come to pass such as the prop 1 an and 1b funds form the state, letting prop k funds be spent later. we have not had to issue long-term debt which keeps more money for projects and we continue to rely on a short-term commercial paper program. this is a very high-level summary of the allocations and expenditures made from the prop k sales tax

rpogram. detailed report on pages 46-47. the total allocations, 83 million, close to 1 billion to date. as i mentioned here, the red numbers of the difference between applications and expenditures which is the lag i talked about. the next few slides will provide highlights of some of the projects and programs being delivered through many of the different fund sources that the programmer we prioritize by working with the mtc< state and general funds; state transportation improvement program is probably the most reliable source ever given the current issues in the state budget. however we only got 16 billion

it was a banner year and fulfilled one of our long-standing commitment made in 2001, doyle drive, presidio park. obligation on that is fulfilled. we have a loan to pay back to mtc; a petition has been funds and i'm not good to advantage of that opportunitywith the board issued to provide muni would not hundred thousand for pedestrian improvement. the transportation program, it is a program that the transportation commission and mtc set up to target improvements for low-income community.

the authority this past year had the opportunity to invest 4 million dollars. we also were able to concur on a number of capital projects and priorities here including some of the customer first projects that mta put out; important projects to improve both reliability, reduce travel time and offer real-time traffic information so people have more choices whether they want to wait for the bus or go somewhere else. this slide summarizes a lot. there are many fund programs, constantly programming and prioritizing, explaining to the sponsors the new rules. community projects, block

grant projects; school grants. one of the new programs this year, many are familiar with, the one bay area grant program; i will talk about this later on. it is a hallmark in terms of really trying to integrate transportation land-use to meet the safe goals of greenhouse gas emissions. we have about 35 million dollars; last month this body took an action to prove 10 tentative projects for the funding; we have to wield down this list. next two slides, the county program manager for clean air,

$4 vehicle registration fee to reduce motor vehicle emissions, improve air quality. it is a short-term project but we want to feel the benefits right away we all have about 700 to 750,000 a year. because of cost savings from prior projects is typically leveraged; last year we had about four times the amount of funds. transportation demand management projects are projects that offer choices, community benefit programs and so forth. the last few slides, prop -- enacted in december, brand-new vehicle registration fee;

street repair, pedestrian safety, liability improvements in december the board approve the first plan, 26 million for the next five years worth of projects. we have already started with allocations last december, that's why our expenditures are zero, we just started. there is one on your agenda today. this is meant to deliver projects quickly throughout the neighborhoods; only funds design and implementation and we expect report project progress. i will take a break on this; it offers a fantastic summary.

one of the things that i want to reiterate from jose luis's comments and the chair's comments are partnerships, partnership with folks we don't normally work with. the first has to do with long-range planning and policy documents , which are important a big feature last year, the regional sustainable strategy, and regional transportation plan also known as rtp scs. for the new commissioners who didn't have to suffer through the acronyms and all the details -- all of the san francisco project that needed to be the financial

constraint portion of the plan are in there. it is an important milestone. they can continue to seek federal funds and approvals from the federal government. we also have project specific wins, two to highlight, mtc naming the downtown extension of caltrans, as two regional priorities. 500 million committed to the transit performance initiative. this is super important. something that tilly helped generate advocacy. this will allow investment in the urban corridor to make our existing transit infrastructure their work better, trying to identify bart and muni project that will provide more reliable and faster service.

also the recent update funds, san francisco transportation plan. this helped develop the prop k expenditure plan. hitting on the ground. it is being done in parallel with the regional transportation plan; the regional transportation plan is giving us feedback and we are providing feedback to both the current plan in the next one down the pike; we just finished one and are already starting the next one. i can move a bit faster now. you can see in the timeline in many cases the authority was the first on the scene to start a new trend. one of the things we saw back in 2002-03, we needed money for neighborhood transportation plans, particularly to get the

pedestrians out of theneighborhood. a lot of productivity. strong community-based efforts, the bayshore station study. this is interesting. it is another community-based planning process looking at what kind of station you wanted for the bayshore session. we had redevelopment, high-speed rail plans; this was a chance for the community to weigh in an division they have for the area and help them form the larger regional discussions. by domains at the end of the story but it is a way to start the build community input and consensus. bi-county transportation study is very much related,

working with jurisdictions and agencies across the county line in san mateo; we are just about done with this one. we have to do a little bit of tinkering to do with the loss of the redevelopment agency and other changes but we will come to you early in 2013 with recommendations. market street is further to all of you. we know that it needed to be fixed for a long time. the study resulted in a number of improvements that included and led to the bike -- an initial turn restrictions. we now have a much more significant effort going on looking at a much broader context not just of the transportation needs and a quarter which are technical enough but really a long-term issue and development of that as well;

we should get an update to the lands and programs committee very soon on that. this is the caltrans fund, 19th avenue, looking at the realignment of the m line. according to major land development in the area, one thing is that we do have funding contribution and active participation by ssf, huge owners of [indiscernible]. another caltrans project, is the balboa park. it helps to fund the establishment of a community advisory committee that held a meeting already earlier this month.

the study and a prior study are both in the startup phases. in 2013 will really be getting down to the meat of the recommendations. the last slides on the planning section have to do with innovative policies on transportation demand management or tdm; the authorities once again on the cutting edge of policy development, delivering strategies and innovations things where we believe where you take some time to get comfortable with the idea, and then they start catching up. the -- solution, working with the community to find ways to better utilize resources. recognizing that we will have to draw on private sector funds and use the funds that we have better because it simply isn't enough funding to do everything that we need to do. the tvm project partnership is

three projects in one. a review of tdm policies, providing support to the muni partnership program related to the regional shuttles; also again trying to pull in the private sector trying to facilitate partnerships and offering technical it's pretty steward number of employers and institutions that run shuttles, to make them serve everyone better. also on the -- initiative this is another case where we have done prior studies comprising the mobility access and pricing studies and are still following that up in terms of the parking price regulation study. in the meantime we have the opportunity to work with the mayors office of economic and workforce development, as the mobility management agency for treasure island to support the land development going on there. that's great to be able to do

that as well as the pilot pricing. i will say that what we have seen that these are intricately involved in all transportation studies. the last section quickly, i don't have to say that much because of your remarks; we talked about this being the banner year for the signature project and prop k. everyone of our major capital project is under construction. we are hoping to have eis this spring, and working on the transition of this project; it's been a collaboration with the mta from the very beginning

and we are going to hand off the project to the mta for implementation starting with the design and construction phase. -- is much longer and complicated project. a little bit behind but applying the lessons learned from the venice -- project, this coming year we will begin to examine [indiscernible]. the city of parkway, i said a lot about this, an alphabet soup of funding, a partnership credit, credit in particular to jose luis, working with an unbelievable number of government agencies and the public.

and moving to phase ii. central subway, it had the funding agreement, well under construction. i will not be surprised if there is a cable show called extreme engineering. the transit center is in the two-phase project. construction is underway on the first phase; construction of the terminal itself, a 1.6 billion dollar first phase. many construction projects are out for bit; the first one will be first-quarter of 2013. phase 2, there is a significant

funding shortfall, about 2 billion for that second phase. but we had a major victory with -- naming this as a regional priority.last december we presented the authority's draft study, fast draft, bringing high-speed electrification a lot faster. i don't want to give full credit to the study but it was instrumental in breaking the juggernaut holding up high-speed rail, leading up to 2012 high-speed rail mou; as a

result caltrain electrification, one of the signature projects on life support, this is the night and we continue to work on with the mayors office. we have to identify the rest of san francisco's 60 million share to this project; the only projects identified are 20 million of the 60 million. the last will be presented in september. -- we are bringing technology up

to modern standards, providing a lot of enhancement that improve safety, reliability and customer convenience. paratransit continues to be successful, improving cost efficiency; you significant item for prop k. this slide has way too much. these are the smaller projects; prop k has money for curve walks, pedestrian signals, the major feature of the sales tax program. i have the audit on the agenda. congratulations to cynthia and the board; we continue to have

a good credit rating. we have not had to issue bonds but we are prepared to that. we have negotiated a letter of credit; there is a significant cost savings, just under 1 million dollars a year that are now available for projects. we have had a big office move; congratulations to cynthia and her staff. if you have not looked at the window recently it is converted to residential use. last but not least i want to reiterate what jose luis and the chair have said about the leadership of the board; and more more about the public and private partners.

a huge thanks to the wonderful staff past and present and our interns who have done amazing things. i want to mention anthony adams who created interactive maps. you can find the project, cost phase and completion. we expect this to go live next month. thank you. >> thank you for your presentation; the interactive map something and fantastic; i look forward to seeing that. >> can you tell us where the map will be located? >> on our website, www.sfcta.org.

>> okay thank you again for your presentation. executive director lombardo. we can open this item for public comment. any member of the public does come forward. seeing none, we close public comment. (gavel) this is an action item. colleagues, do we have the same configuration here? same house, same call? we can take up without objection. (gavel) >> this is an opportunity to comment on any item on the agenda. seeing none will go on to public comment. seeing none, we will close public comment. >> next item, 13.

>> any member of the public can comment on any item not on the agenda. >> regarding the muni fast pass for seniors it takes 65+ years to become a senior; we have contributed to the system all this time; we lose the bart option when we become a senior; we are told by your representatives a lot of the place that it is for our benefit. it is not. it is an option. we decide whether to take the option or not. i requested this board consider reinstating the bart option with muni fast pass for seniors. if you want to calculate this we can saddam into that.

it is a big loss for seniors who have contributed to the system all their lives to lose that facility now. thank you. i would like to discuss it if you want. thank you again. >> thank you very much. i will personally look into that matter. any members of the public who would like to comment? seeing none we are close. >> adjournment. >> we are adjourned.