of course, the station is intended to be the terminal of the -- in connecting to caltrain. we will bring you a final report this fall. we have had some interesting out -- results of the western soma neighborhood transportation plan. there are some comments and solutions beginning to emerge, like providing crosswalks for some of those ballets that are truly real streets with people living on them, but they are not very safe right now. particularly, mina and natoma. we will bring you a final report after the plans that step, which is to generate some refined designs. also, on the by county transportation study, the southeast quadrant of the city, a significant study. we presented a final list of projects and likely cost ranges, which are fairly significant to our counterparts, san the tail county, other parties, and a milestone agreement that these are the right cost of agreements. this is something that has been in the works for decades. as a given milestone. -- a significant milestone. we will be issuing debt in the fall. to conclude my report, i am pleased to let you know t

our position evolved over the past year or so has been that we should be able to implement that extension, together with caltrain, and the solution to the high-speed rail approach on the san francisco peninsula it is what we call a blended operation. but caltrain trains and high- speed trains share the tracks without the need for a huge revamping of the current set up there, without making today the commitment to a 50-year future where there is a train every five minutes and a huge impact. all of us think it will end up getting in the way of a solution and consensus today. we believe that, for the foreseeable future, there is enough capacity to run both systems concurrently and bahrain the high-speed rail project initiatives state ride -- a statewide a reality in the next decade or so. we're working toward that goal in cooperation with the number of regional and local agencies. specifically to deal with the issue of the downtown extension, we held an engineering meeting a few days ago. the authority hosted this, attended by a number of the agencies i just mentioned, as well as leading f -- experts on engineering

capture the major regional connections for the city of san francisco, having direct connectivity to caltrain, bart, and muni metro. it serves a bit and the population where 60% who live along the corridor rely on muni for their transportation needs. in terms of the 2011 update, the central subway project has been a big advocate of putting local businesses and seven systems to work. we have awarded our first two contracts to a local firm, employing local folks and representing a small business enterprise goal that exceeded 35%. the central someone has also benefited by being listed in president obama's annual budget. $200 million has been proposed for the president's budget that will be received by the central subway project. we have released in february of this year our largest contract for the program, the tunnel contract, which we awarded in june. that contract was awarded to healy in the amount of $233 million. $13 million under budget. it will be the largest contract awarded for the central subway program. finally, in july, a showcase of support for the delivery of the program, the tradi

i want to make sure that mission bay is connected to chinatown, to union square, to caltrain. i also think that no great city has ever regretted building a subway. but great cities regret not building subways. i happen to think we should not just do it in chinatown. i hope someday our vision is to continue on, to connect the entire city. we know that in 15 or 20 years, traffic on our streets will double. when we are all sitting in gridlock in 10 years because of decisions that may or may not be made today, i think we're going to regret that. [applause] >> all right, thank you. >> should we let everybody weigh in on this? >> yeah. >> yes, i would like to -- [inaudible] oh, ok. what are you going to say to the people in the southeast of the city? quite frankly, people in the southeast of the city are going to be worse off. they will lose the direct connection that the t made to market street and bart and muni. there will have to go to union square and then walk back through a tunnel three football fields long to get to the station. i would say to the people of the southeast of th

i want to make sure that mission bay is connected to chinatown, to union square, to caltrain. i also think that no great city has ever regretted building a subway. but great cities regret not building subways. i happen to think we should not just do it in chinatown. i hope someou

i want to make sure that mission bay is connected to chinatown, to union square, to caltrain. i also think that no great city has ever regretted building a subway. but great cities regret not building subways. i happen to think we should not just do it in chinatown. i hope someday our vision is to continue on, to connect the entire city. we know that in 15 or 20 years, traffic on our streets will double. when we are all sitting in gridlock in 10 years because of decisions that may or may not be made today, i think we're going to regret that. [applause] >> all right, thank you. >> should we let

it will also reduce travel time from chinatown to the caltrain station. this is all while creating tens of thousands of local jobs, as has been discussed. we need to remember the big picture. when we talk about the central subway project. we appreciate the comments that have been made to this effect. phase one of the project was the third street light rail project, which established retail and cultural centers with diverse communities along the light rail line and encourage economic revitalization along the entire corridor. the third street light rail open four full revenue service back in april 2007. the second phase, the central subway project operates as an extension of the third street light rail. 1.7-mile extension will have surface stops at fourth street near brandon and subway service with stations at the mosconi center, union square, and chinatown neighborhood. many people forget that these projects are the product of extensive community feedback and planning. the tea has identified the third street corridor with an extension to chinatown as a prio

this is just to show visually all of the participating jurisdictions lining up along the caltrain corridor. our plan now is to launch in spring 2012. the overall pilot is 1000 bikes at 100 stations. half of those are coming to san francisco. we have identified a pilot direct service area that stretches from van ness down to the waterfront. and from mission bay in the south as far as pier 39 in the north. station placing will vary somewhat more throughout the introductory area, but we are aiming for more less one station every two to four blocks. this shows a map of the proposed pilot area. i think i've said enough on that one. aside from this pilot area, 500 bikes, we feel san francisco should be able to support a system of six or seven times that. maybe 3000 bicycles, immediately. but to determine beyond the pot and where we would go with like sharing, we did a city-wide suitability and analysis. we looked at 11 different factors. parks and into the bikeway network, to transit, tourist sites. we put all of these factors together on one map, and we have this over all which shows the northe

we want to extend the terminus of caltrain to downtown. over 48,000 direct or indirect jobs will be created over the next seven years. transbay, there redevelopment plan with a plan that was adopted in 2005. that plan will transform an underutilized section of downtown san francisco, south of market street, into a thriving transit-oriented neighborhood. 2600 new homes, 35 percent of which will be affordable. 3 million square feet of new office space and 10,000 square feet of retail. that is what that is going to be. and folsom street will be the centerpiece of this new neighborhood and will feature widened sidewalks, views of the bay, cafes, and markets. watch out for that. that will be an exciting place for the new part of downtown. in our south of market area, the trans bay terminal will sustain growth in our south of market area, a neighborhood that has grown with the tech companies that haul it home. there are more than 1500 companies in san francisco, as i said earlier, with the city's tech industry located right in that neighborhood.