About $600 million of the $3.9 billion needed to extend Caltrain and the California High Speed Rail to an underground station in San Francisco has been used to pay for overruns of nearly 100% on the Transbay Terminal. Since 2008, project costs have increased from $1.2 billion to $2.26 billion, reports the San Francisco Chronicle. The San Francisco Board of Supervisors in late April agreed to increase the budget by $260 million to complete Phase 1 of the project by December 2017. The bailout is for Phase 1 of the project. Phase 2 would extend Caltrain to the Transbay station by 2024. Funding for that phase of work is not yet identified.