The San Francisco Board of Directors convened on May 8, 2025, to discuss critical funding and project approval matters. The meeting focused on the financial requirements for Stage Gate 1 approval of a significant infrastructure project, with an emphasis on ensuring that funding aligns with projected expenses.

During the meeting, a board member inquired about the estimated range of expenses necessary for the project’s initial approval. The Chief Financial Officer (CFO) responded, indicating that approximately $145 million has been programmed for the project, specifically for the initial phases of design completion. This funding is part of a structured process that includes a "notice to proceed," which certifies that funds are available before any contractor can begin work.

The CFO also highlighted ongoing efforts to secure additional funding for utility relocation and alternative pathways, should construction timelines shift. The board was assured that the current estimates for project completion from 0% to 60% design are on track, and there is a commitment to monitor expenditures closely to avoid exceeding available funding.

Following the discussions, the board moved to approve the necessary actions to proceed with the project. The motion received unanimous support from all present directors, indicating a strong consensus on advancing the initiative.

In conclusion, the meeting underscored the board's commitment to fiscal responsibility and project accountability, setting the stage for future developments in San Francisco's infrastructure planning.