The San Francisco Board of Supervisors approved a $260 million bailout for the Transbay Transit Center. Phase 1 of the project began in 2008 and completion is expected by December 2017. This phase was originally estimated to cost $1.2 billion. However, the cost has increased to $2.26 billion because of numerous failures, according to a review by the Metropolitan Transportation Commission (MTC). Phase 2 of the project to extend Caltrain and the California high-speed rail line to an underground Transbay station by 2024 is estimated to cost $3.9 billion and a funding source has not yet been determined.
