union square utilities relocation is nearly complete. we will wrap up before the moratorium and finished up after the new year. yesterday, we submitted our application for forward funding grant agreements. i mentioned last time, we went to a great effort by the whole team, the city staff, and the various consultants to get to that point. a very significant milestone for the project. we are convening a stakeholder meeting for tomorrow afternoon to update some of the folks that have been working on this project, updating them on where we are, that we have reached this milestone. things are generally moving forward well. i will mention, because it has gotten a lot of public play, the charter requires a portion of funds for capital projects be set aside for public art. goes to the commission that manages the competitive process to determine what the public art should be, associated with different public works projects. one of the artists selected for the pieces of the subway, some news came out that he had some disturbing accesspects of his

contract has been completed and that have relocated the utilities for the portal and mosconi stations. our second contract is currently under way in union square. that contract is approximately 60% complete, on time, within budget. it will relocate all the utilities underneath the asphalt area on stockton street between ellis and geary to accommodate for the future market street station, and it will be completed in may 2012. the hour tunnel contract, $233 million, $13.25 million under budget. the contractor has initially mobilized in the launchbox area. finally, the four major contracts that will deliver the program. these contracts encompass the actual construction of the three underground subway stations, and assistance contract that will install all of the track and guide way work, communications work, for the operation of the central subway. all of these contracts will go out to bid in the first three quarters of 2012. the fta has been very supportive of the program because of its intense user benefit and transportation benefits for the citizens of san francisco. we have received four years running a medium-i f t a new start reading. we ar