caltrain electrification has had a broad regional support for many years. caltrain is the most important thing we can do for generations to come. here in san francisco, i am working hard to make sure we continue to be the innovation capital of the world. cities across this country and other nations are looking at its cities for solutions to everyday problems. transit is our number one concern because we are a growing economy. we cannot increase roadways and airport runways there. that will not be a part of solutions for the future. you have a good solution. it is going to be affordable, it will be faster, and it will be better. i want to welcome you. as i came here this morning, i ran into a lot of great people. i know they represent a lot of generations of people. i hope, as i think many of you do, i hope to see the trains pulled through all the way from los angeles to our valley, through our peninsula all the way to our transbay terminal. thank you very much. >> thank you, mayor. [applause] i also want to recognize, i appreciated the way you and your staff

including caltrain electrification, and positive train control, the downtown extension, and other upgrades along the alignment. as part of that mou -- the parties include tjpa, the city and county of san francisco, high speed rail authority, and the city of san jose. the benefits and importance is that it reaffirms some existing commitments, the designation of the dtx in resolution 3434. it commits all the parties to the mou to develop and implement a regional strategy is used to fund these priority projects. one of those is -- one of those is to designate the dtx as a new starts project. it will put it in line for participation in the federal new starts program, one of the most significant potential funding sources for transit-related projects. it adopts, for the first time, a regional strategy to fully fund the dtx. the future of the mou is there was a hearing that was held before the mtc planning committee in april. it will go to the full commission two weeks from now with the final being brought for adoption in mid-2013. that would establish the position in the new starts stream. that

discretionary funding be focused on high priority projects that san francisco has, including caltrain electrification, van ness station, brt, among others. i want to thank my office and the office of supervisor wiener in what they have done for helping to make that happen. i know that it was important for san francisco to play an active role. i also want to thank the san francisco commissioners of abag that also made sure that our considerations were taken. i also want to thank the mayor's office who also played an important role in making sure that our concerns were taken into account. we also saw the introduction last week of an ordinance to put into place the transportation system of it -- sustainability program. we are going to make sure that we continue to monitor that the first. -- that effort. with respect to

discretionary funding be focused on high priority projects that san francisco has, including caltrain electrificationtion, brt, among others. i want to thank my office and the office of supervisor wiener in what they have done for helping to make that happen. i know that it was important for san francisco to play an active role. i also want to thank the san francisco commissioners of abag that also made sure that our considerations were taken. i also want to thank the mayor's office who also played an important role in making sure that our concerns were taken into account. we also saw the introduction last week of an ordinance to put into place the transportation system of it -- sustainability program. we are going to make sure that we continue to monitor that the first. -- that effort. with respect to the transportation authority, we are continuing to hear directly on the various types of projects and work being done on a district by district level. i think the presentation from staff and the various agencies working on projects in each one of the 11 districts is something that i have found useful.

the electrification of caltrain will benefit as a result of this memorandum of understanding through the california high speed rail authority, will benefit from $706 million in high-speed rail funds be made available through the project. in addition to that, federal funds included, generally formula funds as well as a total of $180 million from the three member counties of the peninsula joint powers board. $60 million each from santa clara, san mateo, and san francisco. the downtown extension project will include $650 million. again, this is sort of a marker. once the project is adopted within the regional transportation plan, then the project opponents will come together with the federal transit administration to develop a final implementation plan and final funding plan. so with that, we are thinking recommendation for, with conditions, to authorize the executive director to execute the memorandum of understanding to implement the alamance of the high speed rail as opposed to opposing documents. commissioner avalos: commissioner wiener? >> could you summarize those conditions that