When it comes to transportation, San Francisco always leads the way. This week I joined partners and leaders from federal, state, and local government to celebrate our investments in the next phase of the Third Street-Central Subway line and the ground-breaking Presidio Parkway public private partnership.
For San Franciscans, the Central Subway project is a product of consensus -- an effort to improve mobility, expand public transit, promote commerce, and bring our city closer together. With today's signing of the Full Funding Grant Agreement, we have secured $1 billion in federal funds for the subway, which will ensure better service and equal transportation access for Chinatown residents and serve as an economic engine for our city.
Replacing the aging and unsafe Doyle Drive with a new Presidio Parkway will provide safer roadways and shorter commute times to the 120,000 drivers and transit riders who cross Doyle Drive each day. The project is the first in California to operate under a new innovative public-private partnership model. With nearly $130 million from the Recovery Act and $18 million from across the federal government, the project will use public investments to spur and stimulate the private sector; adding jobs and creating a better environment for business.