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Goals of the tjpa and the city with this project is to Spark Development in the area surrounding the Transit Center to be a National Model for development where you have got the jobs and housing and recreation and shopping and retail and all in close proximity, and on this graphic you see that there is already in the transit city plan area, 19 buildings that are already under way and just south of the Transit Center plan area, there are eight additional residential buildings that are already under way. And if i am going to turn it over to the principle engineer. Brian dikes. I deal with the en...

And we should know within the next year, exactly what is and which vehicles they have. Cal train is going to be getting new vehicles too and be working with both operators, so that we fit out the box finally that fits. And in addition, there will be an extension, if we get an environmentally cleared from the street to the other side of main street and this is at the request of the high speed rail and the federal rail Road Administration to accept 400 meter quarter of a mile long trains on a straight platform and no curved edge, that extension will meet that requirement and needless to say that...

Northern and southern book ends and the idea was that the early funds would be used to deliver, high speed rail, related up grades that could be completed and delivered to the public earlier, than the over all high speed rail system and so also, as part of this mlu it was negotiated that the funds that go to the Northern Book end would go to complete the cal train electric identification and positive train control because those are important regional projects and certainly relate to the Transbay Program as well in terms of the dtx and the benefits that were included in the mlu. And included in...

Funding Grant Agreement you get a guaranteed amount for the federal funding for construction and it is a significant amount of funding and so, that opened up the two shots in the pipeline, and it was a long term goal for tjpa to get one of these designated. And it is falling away and the largest funding stream that exists for this type of a transit expansion, those are made officially made in the regional plan and the most recent version was named, plan bay area and in the plan bay area, the dtx was designated for the regional priority as well as the second half of the project and as part of t...

Going to turn it over to jim, who is with spary consulting and is he part of our Financial Consulting team. Good morning directors, i am jim martin at sparry capital. And we are an Advisory Firm and the overview. And now, i dont think of p3 as the appropriate vehicle for every project. I advise, cal transseveral years ago on a 100 million straight resurfacing of i80. And that was not the profile for a p3 project. A p3 project rather should be complicated, and in large, with challenges that can be identified and through ensentive and proven to the private sector and we think that it is a prime ...