BayRail Alliance

2001 — PR2000 changes its name to BayRail Alliance and launches a campaign for the passage of Assembly Bill 1419, which the state legislature approves by a 1-vote margin, to transfer Transbay Terminal land and development rights from Caltrans to San Francisco Redevelopment Agency to build new terminal and Caltrain extension. The Redevelopment Agency has pledged all of the proceeds (tax increment) from the development to the rebuilding of the Transbay Terminal and Caltrain Downtown extension. This amount is estimated at $1.2B of the $1.8B cost of the project.Governor Davis vetoes the bill, but directs Caltrans to support the land transfer administratively.